Lamb Weston Holdings Inc. (NYSE:LW) – Investment analysts at Jefferies Group lowered their Q2 2019 earnings per share estimates for shares of Lamb Weston Holdings in a note issued to investors on Wednesday. Jefferies Group analyst A. Jagdale now forecasts that the specialty retailer will earn $0.66 per share for the quarter, down from their previous forecast of $0.68. Jefferies Group has a “Buy” rating and a $53.00 price objective on the stock.
Lamb Weston Holdings (NYSE:LW) last issued its quarterly earnings data on Tuesday, July 25th. The specialty retailer reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $833 million during the quarter, compared to analyst estimates of $810.85 million. During the same quarter last year, the firm earned $0.29 EPS. Lamb Weston Holdings’s revenue for the quarter was up 7.2% compared to the same quarter last year. TRADEMARK VIOLATION NOTICE: This report was reported by Markets Daily and is owned by of Markets Daily. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://www.themarketsdaily.com/2017/08/08/analysts-offer-predictions-for-lamb-weston-holdings-inc-s-q2-2019-earnings-lw-updated.html.
Several other equities research analysts also recently commented on the stock. Berenberg Bank started coverage on shares of Lamb Weston Holdings in a report on Tuesday, May 16th. They set a “buy” rating and a $49.00 price objective on the stock. Zacks Investment Research downgraded shares of Lamb Weston Holdings from a “buy” rating to a “hold” rating and set a $52.00 price objective on the stock. in a report on Tuesday, June 6th. Stifel Nicolaus downgraded shares of Lamb Weston Holdings from a “buy” rating to a “hold” rating and upped their price objective for the company from $42.00 to $44.00 in a report on Friday, April 7th. CL King started coverage on shares of Lamb Weston Holdings in a report on Tuesday, May 23rd. They set a “strong-buy” rating and a $55.00 price objective on the stock. Finally, Bank of America Corporation upped their price objective on shares of Lamb Weston Holdings from $46.00 to $48.00 and gave the company a “buy” rating in a report on Monday, July 10th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $46.22.
Shares of Lamb Weston Holdings (NYSE:LW) traded down 0.09% during mid-day trading on Friday, reaching $43.82. 951,064 shares of the company’s stock traded hands. Lamb Weston Holdings has a 12-month low of $29.62 and a 12-month high of $49.94. The firm has a 50-day moving average of $44.59 and a 200 day moving average of $42.18. The company has a market cap of $6.40 billion and a P/E ratio of 21.60.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 1.71%. The ex-dividend date is Wednesday, August 2nd.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Lamb Weston Holdings by 9,609.1% in the first quarter. BlackRock Inc. now owns 11,612,822 shares of the specialty retailer’s stock valued at $488,434,000 after buying an additional 11,493,214 shares during the period. Ruffer LLP acquired a new stake in Lamb Weston Holdings during the first quarter valued at approximately $106,030,000. Kensico Capital Management Corp acquired a new stake in Lamb Weston Holdings during the first quarter valued at approximately $82,900,000. FMR LLC increased its stake in Lamb Weston Holdings by 126.3% in the first quarter. FMR LLC now owns 3,331,242 shares of the specialty retailer’s stock valued at $140,112,000 after buying an additional 1,859,263 shares during the period. Finally, Blue Ridge Capital L.L.C. acquired a new stake in Lamb Weston Holdings during the first quarter valued at approximately $75,708,000. 77.92% of the stock is currently owned by institutional investors and hedge funds.
About Lamb Weston Holdings
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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