Lamb Weston (NYSE:LW) was downgraded by analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued on Thursday, Briefing.com reports. They currently have a $81.00 price objective on the specialty retailer’s stock, down from their previous price objective of $84.00. The Goldman Sachs Group’s price objective points to a potential upside of 3.86% from the stock’s previous close.
Separately, Bank of America upgraded Lamb Weston from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $81.20.
LW stock opened at $77.99 on Thursday. The business has a 50 day moving average of $80.38 and a 200 day moving average of $75.25. The firm has a market cap of $11.41 billion, a PE ratio of 38.61, a price-to-earnings-growth ratio of 3.31 and a beta of 0.78. Lamb Weston has a twelve month low of $51.72 and a twelve month high of $86.41. The company has a quick ratio of 1.88, a current ratio of 2.91 and a debt-to-equity ratio of 6.65.
In other Lamb Weston news, CEO Thomas P. Werner sold 69,500 shares of the firm’s stock in a transaction that occurred on Friday, January 15th. The stock was sold at an average price of $77.65, for a total transaction of $5,396,675.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Eryk J. Spytek sold 6,183 shares of Lamb Weston stock in a transaction on Wednesday, January 13th. The stock was sold at an average price of $75.00, for a total transaction of $463,725.00. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in LW. Morgan Stanley boosted its stake in shares of Lamb Weston by 33.1% during the 3rd quarter. Morgan Stanley now owns 352,570 shares of the specialty retailer’s stock worth $23,364,000 after purchasing an additional 87,656 shares during the period. Kiwi Wealth Investments Limited Partnership bought a new position in shares of Lamb Weston during the third quarter valued at approximately $684,000. Cubist Systematic Strategies LLC raised its holdings in shares of Lamb Weston by 66.0% in the third quarter. Cubist Systematic Strategies LLC now owns 7,600 shares of the specialty retailer’s stock worth $504,000 after buying an additional 3,021 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Lamb Weston during the 3rd quarter worth approximately $1,042,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Lamb Weston during the 3rd quarter valued at $869,000. Hedge funds and other institutional investors own 86.38% of the company’s stock.
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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