Lamb Weston Holdings, Inc. (NYSE:LW) – Stock analysts at Jefferies Financial Group cut their FY2021 earnings estimates for Lamb Weston in a research note issued to investors on Tuesday, June 8th. Jefferies Financial Group analyst R. Dickerson now anticipates that the specialty retailer will post earnings of $2.15 per share for the year, down from their prior estimate of $2.20. Jefferies Financial Group has a “Buy” rating and a $100.00 price target on the stock. Jefferies Financial Group also issued estimates for Lamb Weston’s Q4 2021 earnings at $0.44 EPS, Q1 2022 earnings at $0.69 EPS, Q2 2022 earnings at $0.96 EPS, Q3 2022 earnings at $0.85 EPS, Q4 2022 earnings at $0.80 EPS, FY2022 earnings at $3.30 EPS, Q1 2023 earnings at $0.90 EPS, Q2 2023 earnings at $1.09 EPS, Q3 2023 earnings at $0.98 EPS, Q4 2023 earnings at $0.93 EPS and FY2024 earnings at $4.25 EPS.
Several other analysts have also issued reports on LW. Stifel Nicolaus upgraded Lamb Weston from a “hold” rating to a “buy” rating and boosted their target price for the company from $80.00 to $89.00 in a research note on Wednesday, May 26th. Bank of America upgraded Lamb Weston from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Monday, April 5th. The Goldman Sachs Group restated a “neutral” rating and issued a $81.00 target price (down from $84.00) on shares of Lamb Weston in a research note on Wednesday, April 14th. Finally, TheStreet lowered Lamb Weston from a “b” rating to a “c+” rating in a research note on Wednesday, April 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Lamb Weston currently has an average rating of “Buy” and an average target price of $89.17.
Lamb Weston (NYSE:LW) last issued its earnings results on Tuesday, April 6th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.06). The firm had revenue of $895.80 million during the quarter, compared to the consensus estimate of $819.94 million. Lamb Weston had a net margin of 7.14% and a return on equity of 70.00%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share.
A number of hedge funds and other institutional investors have recently made changes to their positions in LW. Norges Bank purchased a new position in shares of Lamb Weston in the 4th quarter worth about $110,222,000. Wells Fargo & Company MN boosted its holdings in shares of Lamb Weston by 184.0% in the 4th quarter. Wells Fargo & Company MN now owns 1,691,309 shares of the specialty retailer’s stock worth $133,173,000 after purchasing an additional 1,095,757 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Lamb Weston by 57.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,193,451 shares of the specialty retailer’s stock worth $169,950,000 after purchasing an additional 804,186 shares in the last quarter. Eaton Vance Management boosted its holdings in shares of Lamb Weston by 495.5% in the 1st quarter. Eaton Vance Management now owns 915,908 shares of the specialty retailer’s stock worth $70,964,000 after purchasing an additional 762,098 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Lamb Weston by 31.8% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,843,111 shares of the specialty retailer’s stock worth $142,805,000 after purchasing an additional 444,344 shares in the last quarter. Institutional investors and hedge funds own 84.66% of the company’s stock.
In other Lamb Weston news, CEO Thomas P. Werner sold 69,500 shares of the company’s stock in a transaction dated Monday, April 12th. The stock was sold at an average price of $78.46, for a total value of $5,452,970.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.81% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 4th. Investors of record on Friday, May 7th were paid a dividend of $0.235 per share. The ex-dividend date was Thursday, May 6th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.15%. Lamb Weston’s payout ratio is 37.60%.
About Lamb Weston
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, commercial ingredients, and appetizers under the Lamb Weston brand, as well as various customer labels.
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