Lamb Weston Holdings Inc. (NYSE:LW) announced a quarterly dividend on Friday, December 22nd, Wall Street Journal reports. Shareholders of record on Friday, February 2nd will be given a dividend of 0.1913 per share by the specialty retailer on Friday, March 2nd. This represents a $0.77 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Thursday, February 1st. This is a boost from Lamb Weston’s previous quarterly dividend of $0.19.
Lamb Weston has a payout ratio of 31.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Lamb Weston to earn $2.81 per share next year, which means the company should continue to be able to cover its $0.77 annual dividend with an expected future payout ratio of 27.4%.
Shares of Lamb Weston (NYSE LW) opened at $58.28 on Friday. Lamb Weston has a 1 year low of $35.81 and a 1 year high of $58.70. The company has a current ratio of 1.55, a quick ratio of 0.53 and a debt-to-equity ratio of -4.43. The stock has a market cap of $8,521.93, a P/E ratio of 26.37, a PEG ratio of 1.99 and a beta of 1.02.
Lamb Weston (NYSE:LW) last posted its earnings results on Thursday, January 4th. The specialty retailer reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $824.60 million during the quarter, compared to analyst estimates of $815.29 million. Lamb Weston had a net margin of 9.85% and a negative return on equity of 53.18%. Lamb Weston’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. sell-side analysts expect that Lamb Weston will post 2.43 EPS for the current year.
A number of brokerages have recently issued reports on LW. Bank of America boosted their target price on shares of Lamb Weston from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Jefferies Group boosted their target price on shares of Lamb Weston to $64.00 and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Zacks Investment Research downgraded Lamb Weston from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Morgan Stanley restated an “equal weight” rating and issued a $50.00 price objective (up from $46.00) on shares of Lamb Weston in a report on Thursday, October 5th. Finally, Stifel Nicolaus lifted their price objective on Lamb Weston from $54.00 to $58.00 and gave the company a “hold” rating in a report on Tuesday, January 2nd. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Lamb Weston has an average rating of “Buy” and an average target price of $53.13.
In other news, Director Peter J. Bensen bought 5,000 shares of Lamb Weston stock in a transaction on Monday, January 8th. The stock was acquired at an average cost of $58.18 per share, for a total transaction of $290,900.00. Following the completion of the acquisition, the director now owns 1,935 shares of the company’s stock, valued at approximately $112,578.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.26% of the company’s stock.
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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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