Citigroup Raises Lamb Weston (NYSE:LW) Price Target to $76.00

Lamb Weston (NYSE:LW) had its price objective boosted by Citigroup from $75.00 to $76.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

Other analysts have also issued reports about the stock. Stifel Nicolaus boosted their target price on shares of Lamb Weston from $60.00 to $65.00 and gave the company a hold rating in a research note on Thursday. Wells Fargo & Company boosted their price objective on shares of Lamb Weston from $70.00 to $77.00 and gave the company an overweight rating in a research report on Thursday. TD Cowen upped their target price on shares of Lamb Weston from $61.00 to $65.00 and gave the stock a hold rating in a research note on Tuesday, September 24th. Bank of America lifted their price target on shares of Lamb Weston from $66.00 to $68.00 and gave the company a neutral rating in a research note on Tuesday, September 17th. Finally, Consumer Edge downgraded Lamb Weston from an overweight rating to an equal weight rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $82.40.

Lamb Weston Stock Performance

Shares of NYSE:LW opened at $68.85 on Thursday. The company has a current ratio of 1.29, a quick ratio of 0.59 and a debt-to-equity ratio of 1.92. Lamb Weston has a 12 month low of $52.99 and a 12 month high of $111.88. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 6.18 and a beta of 0.75. The firm’s 50-day moving average is $62.37 and its 200 day moving average is $77.09.

Lamb Weston (NYSE:LW) last released its earnings results on Tuesday, October 1st. The specialty retailer reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Lamb Weston had a return on equity of 44.06% and a net margin of 11.22%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the firm posted $1.63 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. Research analysts predict that Lamb Weston will post 4.54 EPS for the current year.

Lamb Weston Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.44 dividend on an annualized basis and a yield of 2.09%. Lamb Weston’s dividend payout ratio is currently 19.23%.

Insider Activity

In other news, Director William G. Jurgensen bought 10,000 shares of Lamb Weston stock in a transaction on Friday, July 26th. The stock was acquired at an average cost of $55.43 per share, for a total transaction of $554,300.00. Following the completion of the acquisition, the director now owns 173,377 shares of the company’s stock, valued at $9,610,287.11. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On Lamb Weston

Several institutional investors have recently bought and sold shares of LW. WFA Asset Management Corp boosted its holdings in Lamb Weston by 248.6% in the first quarter. WFA Asset Management Corp now owns 244 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 174 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Lamb Weston in the 1st quarter worth approximately $28,000. Redmont Wealth Advisors LLC purchased a new stake in Lamb Weston during the 1st quarter worth approximately $32,000. Crewe Advisors LLC increased its stake in Lamb Weston by 357.5% during the 2nd quarter. Crewe Advisors LLC now owns 334 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 261 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Lamb Weston by 135.8% in the second quarter. GAMMA Investing LLC now owns 382 shares of the specialty retailer’s stock worth $32,000 after buying an additional 220 shares during the last quarter. 89.56% of the stock is currently owned by institutional investors and hedge funds.

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.