Lamb Weston Holdings, Inc. (LW) To Go Ex-Dividend on August 2nd

Lamb Weston Holdings, Inc. (NYSE:LW) declared a quarterly dividend on Thursday, July 18th, RTT News reports. Shareholders of record on Friday, August 2nd will be given a dividend of 0.36 per share by the specialty retailer on Friday, August 30th. This represents a $1.44 annualized dividend and a yield of 2.42%. The ex-dividend date is Friday, August 2nd.

Lamb Weston has increased its dividend by an average of 6.8% annually over the last three years and has increased its dividend every year for the last 6 years. Lamb Weston has a payout ratio of 21.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lamb Weston to earn $5.41 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 26.6%.

Lamb Weston Stock Performance

NYSE LW opened at $59.53 on Wednesday. The company has a fifty day simple moving average of $81.50 and a 200 day simple moving average of $91.10. Lamb Weston has a 12-month low of $52.99 and a 12-month high of $111.88. 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 company has a market cap of $8.55 billion, a P/E ratio of 7.95, a PEG ratio of 5.36 and a beta of 0.74.

Wall Street Analyst Weigh In

LW has been the subject of several research reports. Consumer Edge downgraded shares of Lamb Weston from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. The Goldman Sachs Group cut their price objective on shares of Lamb Weston from $132.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Barclays cut their price objective on shares of Lamb Weston from $96.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Bank of America cut their price objective on shares of Lamb Weston from $138.00 to $113.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, TD Cowen downgraded shares of Lamb Weston from a “buy” rating to a “hold” rating and cut their price objective for the stock from $105.00 to $61.00 in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Lamb Weston presently has a consensus rating of “Moderate Buy” and an average target price of $87.70.

Insider Buying and Selling

In related news, Director William G. Jurgensen purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average cost of $55.43 per share, with a total value of $554,300.00. Following the acquisition, the director now owns 173,377 shares of the company’s stock, valued at $9,610,287.11. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.66% of the stock is owned by insiders.

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.