Lamb Weston Holdings Inc (NYSE:LW) declared a quarterly dividend on Wednesday, September 26th, Zacks reports. Investors of record on Friday, November 2nd will be paid a dividend of 0.191 per share by the specialty retailer on Friday, November 30th. This represents a $0.76 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, November 1st.
Lamb Weston has a payout ratio of 26.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Lamb Weston to earn $3.32 per share next year, which means the company should continue to be able to cover its $0.77 annual dividend with an expected future payout ratio of 23.2%.
NYSE LW traded up $1.19 during trading hours on Thursday, reaching $81.79. 676,303 shares of the company’s stock traded hands, compared to its average volume of 1,204,567. Lamb Weston has a 52-week low of $52.92 and a 52-week high of $83.86. The stock has a market cap of $11.80 billion, a P/E ratio of 30.75, a price-to-earnings-growth ratio of 2.29 and a beta of -0.53.
Lamb Weston (NYSE:LW) last issued its earnings results on Tuesday, October 2nd. The specialty retailer reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.05. The business had revenue of $914.90 million during the quarter, compared to analysts’ expectations of $879.68 million. Lamb Weston had a net margin of 12.52% and a negative return on equity of 110.81%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 earnings per share. On average, research analysts anticipate that Lamb Weston will post 2.99 earnings per share for the current year.
Several research analysts have issued reports on LW shares. Jefferies Financial Group lifted their target price on shares of Lamb Weston from $71.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Zacks Investment Research cut shares of Lamb Weston from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. ValuEngine cut shares of Lamb Weston from a “buy” rating to a “hold” rating in a report on Wednesday, August 22nd. Stifel Nicolaus lifted their target price on shares of Lamb Weston from $68.00 to $74.00 and gave the stock a “hold” rating in a report on Wednesday, October 3rd. Finally, CL King cut shares of Lamb Weston from a “buy” rating to a “neutral” rating in a report on Thursday, October 25th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $74.50.
Lamb Weston Company Profile
Lamb Weston Holdings, Inc produces, distributes, and markets value-added frozen potato products worldwide. It operates through four segments: Global, Foodservice, Retail, and Other. The company offers frozen potatoes, sweet potatoes, and appetizers under the Lamb Weston brand name, as well as various customer labels.
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