Lamb Weston Holdings, Inc. (NYSE:LW – Get Free Report) announced a quarterly dividend on Thursday, September 26th, Zacks reports. Stockholders of record on Friday, November 1st will be paid a dividend of 0.36 per share by the specialty retailer on Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, November 1st.
Lamb Weston has raised its dividend by an average of 6.8% annually over the last three years and has increased its dividend every year for the last 6 years. Lamb Weston has a dividend payout ratio of 28.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lamb Weston to earn $5.14 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 28.0%.
Lamb Weston Stock Up 0.5 %
Shares of LW traded up $0.30 during mid-day trading on Friday, reaching $66.80. The company had a trading volume of 2,279,161 shares, compared to its average volume of 2,494,220. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.59 and a current ratio of 1.29. The firm has a 50-day moving average price of $62.18 and a 200 day moving average price of $78.52. Lamb Weston has a 52 week low of $52.99 and a 52 week high of $111.88. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of 8.92, a price-to-earnings-growth ratio of 6.18 and a beta of 0.75.
Analyst Ratings Changes
Several research firms recently issued reports on LW. The Goldman Sachs Group lowered their price objective on Lamb Weston from $132.00 to $78.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Consumer Edge cut Lamb Weston from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. Barclays lowered their price objective on Lamb Weston from $96.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Bank of America upped their price objective on Lamb Weston from $66.00 to $68.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Finally, Stifel Nicolaus cut Lamb Weston from a “buy” rating to a “hold” rating and lowered their price objective for the company from $115.00 to $60.00 in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $80.70.
Check Out Our Latest Research Report on LW
Insider Activity
In related news, Director William G. Jurgensen acquired 10,000 shares of Lamb Weston stock in a transaction dated Friday, July 26th. The stock was purchased at an average cost of $55.43 per share, for a total transaction of $554,300.00. Following the purchase, the director now directly owns 173,377 shares of the company’s stock, valued at approximately $9,610,287.11. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.66% of the company’s stock.
About Lamb Weston
Lamb Weston Holdings, Inc produces, distributes, and markets frozen potato products worldwide. The company operates through four segments: Global, Foodservice, Retail, and Other. It offers frozen potatoes, commercial ingredients, and appetizers under the Lamb Weston brand, as well as under various customer labels.
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