Lamb Weston Holdings Inc. (NYSE:LW) – Jefferies Group cut their Q3 2018 EPS estimates for Lamb Weston in a research note issued to investors on Monday, according to Zacks Investment Research. Jefferies Group analyst A. Jagdale now expects that the specialty retailer will post earnings of $0.69 per share for the quarter, down from their previous forecast of $0.70. Jefferies Group has a “Buy” rating and a $64.00 price objective on the stock. Jefferies Group also issued estimates for Lamb Weston’s Q4 2018 earnings at $0.66 EPS, FY2018 earnings at $2.47 EPS, Q1 2019 earnings at $0.73 EPS, Q2 2019 earnings at $0.71 EPS, Q3 2019 earnings at $0.85 EPS, Q4 2019 earnings at $0.76 EPS, Q1 2020 earnings at $0.82 EPS and Q2 2020 earnings at $0.79 EPS.
Several other brokerages have also recently commented on LW. Stifel Nicolaus boosted their price target on Lamb Weston from $54.00 to $58.00 and gave the company a “hold” rating in a research note on Tuesday, January 2nd. Zacks Investment Research raised Lamb Weston from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Friday, October 6th. Morgan Stanley reissued an “equal weight” rating and issued a $50.00 price target (up previously from $46.00) on shares of Lamb Weston in a research note on Thursday, October 5th. Finally, Bank of America boosted their price target on Lamb Weston from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Lamb Weston presently has an average rating of “Buy” and a consensus target price of $53.13.
Lamb Weston (NYSE:LW) last announced its quarterly earnings results on Thursday, January 4th. The specialty retailer reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.01. The business had revenue of $824.60 million during the quarter, compared to analysts’ expectations of $815.29 million. Lamb Weston had a negative return on equity of 53.18% and a net margin of 9.85%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 2nd will be given a dividend of $0.1913 per share. The ex-dividend date is Thursday, February 1st. This represents a $0.77 dividend on an annualized basis and a yield of 1.31%. This is a boost from Lamb Weston’s previous quarterly dividend of $0.19. Lamb Weston’s dividend payout ratio is presently 34.72%.
In related news, Director Peter J. Bensen bought 5,000 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was purchased at an average price of $58.18 per share, with a total value of $290,900.00. Following the completion of the transaction, the director now directly owns 1,935 shares of the company’s stock, valued at $112,578.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Schroder Investment Management Group bought a new stake in shares of Lamb Weston in the second quarter valued at approximately $106,000. Chicago Partners Investment Group LLC boosted its position in shares of Lamb Weston by 359.7% in the third quarter. Chicago Partners Investment Group LLC now owns 2,404 shares of the specialty retailer’s stock valued at $113,000 after acquiring an additional 1,881 shares during the period. Advisory Services Network LLC boosted its position in shares of Lamb Weston by 81.5% in the second quarter. Advisory Services Network LLC now owns 3,094 shares of the specialty retailer’s stock valued at $136,000 after acquiring an additional 1,389 shares during the period. Massey Quick Simon & CO. LLC bought a new stake in shares of Lamb Weston in the third quarter valued at approximately $146,000. Finally, Huntington National Bank bought a new stake in shares of Lamb Weston in the third quarter valued at approximately $155,000. 79.37% of the stock is owned by institutional investors.
About Lamb Weston
Lamb Weston Holdings, Inc (Lamb Weston), is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. The Company’s segments include Global, Foodservice, Retail and Other. The Global segment includes operations associated with Lamb Weston’s business with large chain restaurant customers, whether those results are generated in the United States or abroad, as well as operations associated with retail and foodservice customers located outside of the United States and Canada.
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