Lamb Weston (NYSE:LW) Announces Earnings Results, Beats Estimates By $0.02 EPS

Lamb Weston (NYSE:LW) released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02, Briefing.com reports. Lamb Weston had a negative return on equity of 402.03% and a net margin of 12.48%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $972.49 million. During the same quarter in the prior year, the firm posted $0.65 EPS. The business’s revenue was up 9.3% on a year-over-year basis.

NYSE LW traded down $0.43 on Wednesday, reaching $66.87. The stock had a trading volume of 520,184 shares, compared to its average volume of 1,662,266. The stock’s fifty day moving average is $65.57. Lamb Weston has a 1-year low of $58.83 and a 1-year high of $83.86. The stock has a market capitalization of $9.77 billion, a P/E ratio of 20.77, a P/E/G ratio of 2.59 and a beta of 0.19.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 2nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Thursday, August 1st. Lamb Weston’s dividend payout ratio is 24.84%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Lamb Weston by 11.6% in the second quarter. BlackRock Inc. now owns 12,967,335 shares of the specialty retailer’s stock valued at $821,610,000 after purchasing an additional 1,349,262 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Lamb Weston by 79.1% in the second quarter. Wells Fargo & Company MN now owns 4,150,079 shares of the specialty retailer’s stock worth $262,949,000 after purchasing an additional 1,832,695 shares in the last quarter. William Blair Investment Management LLC increased its holdings in Lamb Weston by 78.6% in the second quarter. William Blair Investment Management LLC now owns 3,334,556 shares of the specialty retailer’s stock worth $211,277,000 after purchasing an additional 1,468,016 shares in the last quarter. Millennium Management LLC increased its holdings in Lamb Weston by 372.0% in the fourth quarter. Millennium Management LLC now owns 2,900,859 shares of the specialty retailer’s stock worth $213,387,000 after purchasing an additional 2,286,275 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Lamb Weston by 57.9% in the fourth quarter. Geode Capital Management LLC now owns 2,152,534 shares of the specialty retailer’s stock worth $158,094,000 after purchasing an additional 789,356 shares in the last quarter. 89.95% of the stock is currently owned by institutional investors.

A number of brokerages have recently issued reports on LW. Goldman Sachs Group upgraded Lamb Weston from a “neutral” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Wednesday, June 19th. JPMorgan Chase & Co. began coverage on Lamb Weston in a research note on Monday, June 17th. They issued a “neutral” rating and a $65.00 price target on the stock. Bank of America upgraded Lamb Weston from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday, May 7th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Lamb Weston from a “strong sell” rating to a “hold” rating and set a $55.00 price target on the stock in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $75.71.

About Lamb Weston

Lamb Weston Holdings, Inc produces, distributes, and markets value-added frozen potato products worldwide. It operates through four segments: Global, Foodservice, Retail, and Other. The company offers frozen potatoes, sweet potatoes, and appetizers under the Lamb Weston brand name, as well as various customer labels.

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Earnings History for Lamb Weston (NYSE:LW)

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