Lamb Weston (NYSE:LW) Price Target Cut to $70.00 by Analysts at Barclays

Lamb Weston (NYSE:LW) had its price target trimmed by Barclays from $96.00 to $70.00 in a report published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the specialty retailer’s stock.

LW has been the subject of several other reports. Wells Fargo & Company cut their price objective on Lamb Weston from $98.00 to $70.00 and set an overweight rating for the company in a research note on Friday. JPMorgan Chase & Co. dropped their price target on Lamb Weston from $108.00 to $63.00 and set an overweight rating for the company in a research report on Thursday, July 25th. Consumer Edge lowered Lamb Weston from an overweight rating to an equal weight rating in a research report on Friday. The Goldman Sachs Group dropped their price target on Lamb Weston from $132.00 to $78.00 and set a buy rating for the company in a research report on Thursday, July 25th. Finally, Citigroup dropped their price target on Lamb Weston from $106.00 to $104.00 and set a buy rating for the company in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $87.70.

Lamb Weston Price Performance

NYSE:LW opened at $56.23 on Friday. Lamb Weston has a 12 month low of $52.99 and a 12 month high of $111.88. The stock has a 50 day moving average of $82.11 and a two-hundred day moving average of $91.46. The company has a current ratio of 1.29, a quick ratio of 0.59 and a debt-to-equity ratio of 1.92. The firm has a market cap of $8.08 billion, a P/E ratio of 7.51, a price-to-earnings-growth ratio of 5.41 and a beta of 0.74.

Lamb Weston Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Friday, August 2nd. Lamb Weston’s dividend payout ratio is presently 19.23%.

Insider Activity at Lamb Weston

In other Lamb Weston news, Director William G. Jurgensen acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were purchased 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 approximately $9,610,287.11. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LW. HB Wealth Management LLC acquired a new stake in shares of Lamb Weston in the fourth quarter valued at $211,000. Deltec Asset Management LLC acquired a new stake in shares of Lamb Weston in the fourth quarter valued at $594,000. State of Michigan Retirement System raised its stake in shares of Lamb Weston by 3.8% in the fourth quarter. State of Michigan Retirement System now owns 41,432 shares of the specialty retailer’s stock valued at $4,478,000 after acquiring an additional 1,500 shares in the last quarter. DAVENPORT & Co LLC raised its stake in shares of Lamb Weston by 6.4% in the fourth quarter. DAVENPORT & Co LLC now owns 15,055 shares of the specialty retailer’s stock valued at $1,627,000 after acquiring an additional 903 shares in the last quarter. Finally, Trust Point Inc. acquired a new stake in shares of Lamb Weston in the fourth quarter valued at $477,000. 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.