Lamb Weston (NYSE:LW) Releases Quarterly Earnings Results, Misses Expectations By $0.20 EPS

Lamb Weston (NYSE:LW) released its quarterly earnings data on Thursday. The specialty retailer reported $1.20 EPS for the quarter, missing the consensus estimate of $1.40 by ($0.20), Briefing.com reports. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Lamb Weston had a return on equity of 50.74% and a net margin of 16.71%. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.43 earnings per share. Lamb Weston updated its FY24 guidance to $5.50-5.65 EPS and its FY 2024 guidance to 5.500-5.650 EPS.

Lamb Weston Stock Down 2.1 %

Shares of Lamb Weston stock traded down $1.75 during trading on Friday, reaching $79.78. The company’s stock had a trading volume of 9,745,586 shares, compared to its average volume of 2,695,098. The company has a quick ratio of 0.57, a current ratio of 1.19 and a debt-to-equity ratio of 1.81. The company has a market cap of $11.52 billion, a price-to-earnings ratio of 10.37, a P/E/G ratio of 0.98 and a beta of 0.72. Lamb Weston has a 1-year low of $78.76 and a 1-year high of $117.38. The company has a 50-day simple moving average of $101.93 and a two-hundred day simple moving average of $99.72.

Lamb Weston Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 3rd will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.80%. Lamb Weston’s payout ratio is 18.73%.

Analyst Upgrades and Downgrades

Several research analysts have commented on LW shares. Stifel Nicolaus reduced their price objective on Lamb Weston from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday. Bank of America cut their price target on Lamb Weston from $138.00 to $113.00 and set a “buy” rating on the stock in a report on Friday. BNP Paribas began coverage on Lamb Weston in a report on Monday, March 11th. They issued an “outperform” rating and a $128.00 price target on the stock. Wells Fargo & Company cut their price target on Lamb Weston from $128.00 to $98.00 and set an “overweight” rating on the stock in a report on Friday. Finally, StockNews.com downgraded Lamb Weston from a “hold” rating to a “sell” rating in a report on Friday, January 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Lamb Weston currently has a consensus rating of “Moderate Buy” and an average price target of $122.00.

Institutional Trading of Lamb Weston

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LW. Raymond James & Associates lifted its position in Lamb Weston by 60.0% during the 1st quarter. Raymond James & Associates now owns 31,305 shares of the specialty retailer’s stock worth $1,875,000 after acquiring an additional 11,741 shares during the period. American Century Companies Inc. lifted its position in Lamb Weston by 37.5% during the 1st quarter. American Century Companies Inc. now owns 21,746 shares of the specialty retailer’s stock worth $1,302,000 after acquiring an additional 5,933 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Lamb Weston during the 1st quarter valued at about $92,000. MetLife Investment Management LLC raised its stake in shares of Lamb Weston by 28.5% during the 1st quarter. MetLife Investment Management LLC now owns 41,455 shares of the specialty retailer’s stock valued at $2,484,000 after buying an additional 9,184 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of Lamb Weston by 158.3% during the 1st quarter. Panagora Asset Management Inc. now owns 28,927 shares of the specialty retailer’s stock valued at $1,733,000 after buying an additional 17,726 shares during the last quarter. Institutional investors and hedge funds own 89.56% of the company’s stock.

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.