Lamb Weston Holdings, Inc. (NYSE:LW – Get Free Report) announced a quarterly dividend on Thursday, July 18th, RTT News reports. Shareholders of record on Friday, August 2nd will be given a dividend of 0.36 per share by the specialty retailer on Friday, August 30th. This represents a $1.44 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Friday, August 2nd.
Lamb Weston has raised its dividend payment by an average of 6.8% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Lamb Weston has a payout ratio of 28.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Lamb Weston to earn $5.41 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 26.6%.
Lamb Weston Stock Performance
LW traded up $0.62 on Friday, hitting $61.92. The company had a trading volume of 1,962,884 shares, compared to its average volume of 2,520,579. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.29 and a quick ratio of 0.59. The company’s fifty day moving average price is $68.91 and its 200 day moving average price is $83.80. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of 8.27, a price-to-earnings-growth ratio of 5.65 and a beta of 0.74. Lamb Weston has a 1-year low of $52.99 and a 1-year high of $111.88.
Insider Buying and Selling
In other Lamb Weston news, Director William G. Jurgensen purchased 10,000 shares of Lamb Weston stock in a transaction on Friday, July 26th. The shares were acquired at an average cost of $55.43 per share, for a total transaction of $554,300.00. Following the completion of the transaction, the director now directly owns 173,377 shares of the company’s stock, valued at $9,610,287.11. The purchase was disclosed in a filing with the SEC, which is available at this link. 1.66% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. Consumer Edge cut Lamb Weston from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. TD Cowen downgraded Lamb Weston from a “buy” rating to a “hold” rating and dropped their target price for the stock from $105.00 to $61.00 in a report on Thursday, July 25th. JPMorgan Chase & Co. reduced their price target on Lamb Weston from $108.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. The Goldman Sachs Group dropped their price objective on Lamb Weston from $132.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Finally, Barclays reduced their price objective on Lamb Weston from $96.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Lamb Weston has a consensus rating of “Moderate Buy” and an average target price of $87.70.
Check Out Our Latest Research Report on LW
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.
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