Lamb Weston (NYSE:LW) had its target price increased by Jefferies Group to $64.00 in a research note issued on Wednesday, January 3rd, The Fly reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. Jefferies Group’s price target would suggest a potential upside of 10.34% from the company’s current price. Jefferies Group also issued estimates for Lamb Weston’s FY2022 earnings at $3.72 EPS.
Several other brokerages have also commented on LW. Stifel Nicolaus increased 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. Zacks Investment Research upgraded Lamb Weston from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Friday, October 6th. Morgan Stanley restated an “equal weight” rating and issued a $50.00 target price (up previously from $46.00) on shares of Lamb Weston in a research note on Thursday, October 5th. Finally, Bank of America raised their target price on Lamb Weston from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Four investment 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. The stock has an average rating of “Buy” and an average target price of $53.13.
Shares of Lamb Weston (NYSE:LW) traded up $0.13 on Wednesday, hitting $58.00. The stock had a trading volume of 1,429,700 shares, compared to its average volume of 1,582,375. Lamb Weston has a 12-month low of $35.81 and a 12-month high of $58.70. The company has a debt-to-equity ratio of -4.43, a quick ratio of 0.53 and a current ratio of 1.55. The stock has a market cap of $8,480.00 and a price-to-earnings ratio of 26.85.
Lamb Weston (NYSE:LW) last issued its quarterly earnings data on Thursday, January 4th. The specialty retailer reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. Lamb Weston had a negative return on equity of 53.18% and a net margin of 9.85%. The firm had revenue of $824.60 million during the quarter, compared to analyst estimates of $815.29 million. During the same quarter in the prior year, the business posted $0.63 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. research analysts forecast that Lamb Weston will post 2.4 earnings per share for the current fiscal year.
In other news, Director Peter J. Bensen bought 5,000 shares of Lamb Weston stock in a transaction that occurred on Monday, January 8th. The stock was bought at an average price of $58.18 per share, for a total transaction of $290,900.00. Following the purchase, the director now directly owns 1,935 shares of the company’s stock, valued at approximately $112,578.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Lamb Weston by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 12,089,698 shares of the specialty retailer’s stock valued at $532,430,000 after acquiring an additional 279,578 shares during the period. BlackRock Inc. grew its position in shares of Lamb Weston by 2.2% during the 2nd quarter. BlackRock Inc. now owns 11,872,986 shares of the specialty retailer’s stock valued at $522,887,000 after acquiring an additional 260,164 shares during the period. State Street Corp grew its position in shares of Lamb Weston by 2.7% during the 2nd quarter. State Street Corp now owns 3,922,298 shares of the specialty retailer’s stock valued at $172,731,000 after acquiring an additional 103,358 shares during the period. Kensico Capital Management Corp grew its position in shares of Lamb Weston by 56.9% during the 3rd quarter. Kensico Capital Management Corp now owns 3,640,000 shares of the specialty retailer’s stock valued at $170,680,000 after acquiring an additional 1,320,000 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Lamb Weston by 3.3% during the 3rd quarter. Janus Henderson Group PLC now owns 2,765,291 shares of the specialty retailer’s stock valued at $129,664,000 after acquiring an additional 89,190 shares during the period. 79.38% of the stock is currently owned by institutional investors.
Lamb Weston Company Profile
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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