Lamb Weston (NYSE:LW) Given New $56.00 Price Target at Barclays

Lamb Weston (NYSE:LW) had its price objective lifted by Barclays from $50.00 to $56.00 in a research report report published on Monday morning, MarketBeat reports. Barclays currently has an overweight rating on the specialty retailer’s stock.

Several other analysts have also commented on the stock. Wells Fargo & Company increased their price target on shares of Lamb Weston from $46.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Stifel Nicolaus cut their price objective on shares of Lamb Weston from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Thursday, April 2nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lamb Weston in a research note on Wednesday, July 8th. Stephens started coverage on shares of Lamb Weston in a research report on Wednesday, May 27th. They set an “equal weight” rating and a $46.00 target price for the company. Finally, Bank of America lowered their target price on shares of Lamb Weston from $49.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $51.82.

Lamb Weston Trading Up 7.2%

LW opened at $53.13 on Monday. The firm has a market cap of $7.34 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 6.63 and a beta of 0.47. The company has a current ratio of 1.42, a quick ratio of 0.74 and a debt-to-equity ratio of 1.97. Lamb Weston has a 12 month low of $37.62 and a 12 month high of $67.07. The stock has a fifty day moving average price of $44.92 and a 200-day moving average price of $44.35.

Lamb Weston (NYSE:LW) last issued its quarterly earnings data on Friday, July 24th. The specialty retailer reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.24. Lamb Weston had a return on equity of 23.33% and a net margin of 4.39%.The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the company earned $0.87 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Lamb Weston has set its FY 2027 guidance at 2.950-3.250 EPS. As a group, equities research analysts anticipate that Lamb Weston will post 3.08 earnings per share for the current fiscal year.

Lamb Weston Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 7th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, August 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.9%. Lamb Weston’s payout ratio is presently 73.08%.

Hedge Funds Weigh In On Lamb Weston

Several hedge funds and other institutional investors have recently modified their holdings of LW. Bank of Nova Scotia grew its position in Lamb Weston by 2.0% during the 3rd quarter. Bank of Nova Scotia now owns 9,685 shares of the specialty retailer’s stock worth $563,000 after purchasing an additional 189 shares during the last quarter. MCF Advisors LLC lifted its stake in shares of Lamb Weston by 44.2% during the fourth quarter. MCF Advisors LLC now owns 649 shares of the specialty retailer’s stock worth $27,000 after buying an additional 199 shares during the period. Clearstead Advisors LLC grew its holdings in shares of Lamb Weston by 8.0% during the fourth quarter. Clearstead Advisors LLC now owns 3,101 shares of the specialty retailer’s stock valued at $130,000 after buying an additional 229 shares during the last quarter. Fiduciary Trust Co grew its holdings in shares of Lamb Weston by 7.5% during the third quarter. Fiduciary Trust Co now owns 4,324 shares of the specialty retailer’s stock valued at $251,000 after buying an additional 300 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Lamb Weston by 47.1% in the 3rd quarter. Larson Financial Group LLC now owns 953 shares of the specialty retailer’s stock valued at $55,000 after acquiring an additional 305 shares during the period. 89.56% of the stock is owned by hedge funds and other institutional investors.

Lamb Weston Company Profile

Lamb Weston, traded on the NYSE under the symbol LW, is a leading global processor and supplier of frozen potato products. The company’s portfolio includes a variety of potato-based items such as French fries, potato wedges, hash browns and specialty cuts tailored to the foodservice and retail grocery channels. Lamb Weston serves quick-service restaurants, full-service operators, grocery chains and food distributors, offering customized product formats, packaging solutions and seasoning options to meet evolving customer demands.

Founded in 1950 and headquartered in Eagle, Idaho, Lamb Weston has grown from a regional processor into one of the world’s largest producers of frozen potato products.