Lamb Weston (NYSE:LW) Price Target Increased to $80.00 by Analysts at Bank of America

Lamb Weston (NYSE:LW) had its target price increased by Bank of America from $68.00 to $80.00 in a report issued on Monday, Benzinga reports. The firm currently has a neutral rating on the specialty retailer’s stock.

LW has been the topic of several other research reports. TD Cowen lifted their target price on shares of Lamb Weston from $61.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, September 24th. Barclays lifted their price objective on Lamb Weston from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, October 4th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $68.00 target price (up from $63.00) on shares of Lamb Weston in a research note on Monday, October 7th. Consumer Edge cut Lamb Weston from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company upped their price objective on Lamb Weston from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $80.56.

Lamb Weston Price Performance

Shares of NYSE:LW opened at $77.38 on Monday. Lamb Weston has a one year low of $52.99 and a one year high of $111.88. The stock has a market capitalization of $11.17 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 1.27 and a beta of 0.75. The company has a 50-day simple moving average of $66.45 and a 200-day simple moving average of $74.59. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.54 and a current ratio of 1.19.

Lamb Weston (NYSE:LW) last posted its quarterly earnings data on Tuesday, October 1st. The specialty retailer reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. Lamb Weston had a return on equity of 34.33% and a net margin of 9.57%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the business earned $1.63 EPS. The firm’s revenue was down .7% compared to the same quarter last year. On average, analysts predict that Lamb Weston will post 4.26 EPS for the current year.

Lamb Weston Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.44 annualized dividend and a dividend yield of 1.86%. Lamb Weston’s dividend payout ratio is currently 19.23%.

Hedge Funds Weigh In On Lamb Weston

Institutional investors have recently modified their holdings of the company. WFA Asset Management Corp grew its stake in Lamb Weston by 248.6% in the 1st quarter. WFA Asset Management Corp now owns 244 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 174 shares during the period. City State Bank grew its position in shares of Lamb Weston by 56.2% in the third quarter. City State Bank now owns 417 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 150 shares during the period. EntryPoint Capital LLC acquired a new position in Lamb Weston in the first quarter valued at $28,000. Crewe Advisors LLC lifted its position in Lamb Weston by 357.5% during the second quarter. Crewe Advisors LLC now owns 334 shares of the specialty retailer’s stock worth $28,000 after buying an additional 261 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new stake in Lamb Weston in the 3rd quarter worth about $29,000. Institutional investors and hedge funds own 89.56% 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.