Lamb Weston Holdings, Inc. (LW) to Issue Quarterly Dividend of $0.37 on February 28th

Lamb Weston Holdings, Inc. (NYSE:LW) declared a quarterly dividend on Thursday, December 19th,Wall Street Journal reports. Investors of record on Friday, January 31st will be given a dividend of 0.37 per share by the specialty retailer on Friday, February 28th. This represents a $1.48 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Lamb Weston’s previous quarterly dividend of $0.36.

Lamb Weston has increased its dividend payment by an average of 15.3% annually over the last three years. Lamb Weston has a dividend payout ratio of 37.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lamb Weston to earn $3.66 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 40.4%.

Lamb Weston Price Performance

Shares of NYSE LW opened at $60.27 on Wednesday. The firm has a market cap of $8.60 billion, a PE ratio of 23.82, a PEG ratio of 1.49 and a beta of 0.73. The firm has a fifty day moving average of $68.85 and a 200 day moving average of $68.39. Lamb Weston has a one year low of $52.99 and a one year high of $107.50. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.53 and a current ratio of 1.35.

Lamb Weston (NYSE:LW) last announced its quarterly earnings results on Thursday, December 19th. The specialty retailer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.35). The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.67 billion. Lamb Weston had a return on equity of 27.82% and a net margin of 5.80%. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.45 EPS. As a group, research analysts predict that Lamb Weston will post 3.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LW. Sanford C. Bernstein started coverage on Lamb Weston in a report on Tuesday, December 3rd. They issued a “market perform” rating and a $85.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Lamb Weston from $68.00 to $78.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Wells Fargo & Company increased their price objective on Lamb Weston from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Jefferies Financial Group raised their price objective on Lamb Weston from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Lamb Weston in a research report on Thursday, December 12th. They issued a “hold” rating and a $81.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $81.00.

Insider Activity

In other Lamb Weston news, Director Charles A. Blixt acquired 1,200 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $63.25 per share, with a total value of $75,900.00. Following the transaction, the director now owns 22,982 shares of the company’s stock, valued at approximately $1,453,611.50. This trade represents a 5.51 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert A. Niblock purchased 3,000 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were acquired at an average price of $60.94 per share, with a total value of $182,820.00. Following the completion of the acquisition, the director now owns 26,406 shares of the company’s stock, valued at approximately $1,609,181.64. The trade was a 12.82 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.72% of the stock is owned by corporate insiders.

Lamb Weston Company Profile

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.