Lamb Weston Holdings Inc (NYSE:LW) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totalling 10,290,000 shares, a growth of 7.4% from the June 30th total of 9,578,700 shares. Based on an average daily volume of 1,640,000 shares, the short-interest ratio is presently 6.3 days. Approximately 7.1% of the company’s shares are short sold.
NYSE LW traded up $0.91 during trading hours on Friday, hitting $68.81. 761,814 shares of the company’s stock traded hands, compared to its average volume of 1,650,985. The business’s fifty day moving average price is $65.81 and its two-hundred day moving average price is $67.35. The firm has a market capitalization of $9.80 billion, a P/E ratio of 21.37, a P/E/G ratio of 2.60 and a beta of 0.19. Lamb Weston has a 52 week low of $58.83 and a 52 week high of $83.86.
Lamb Weston (NYSE:LW) last announced its earnings results on Tuesday, July 23rd. The specialty retailer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.02. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $972.49 million. Lamb Weston had a net margin of 12.48% and a negative return on equity of 402.03%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 earnings per share. As a group, equities analysts predict that Lamb Weston will post 3.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 2nd will be given a $0.20 dividend. The ex-dividend date is Thursday, August 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.16%. Lamb Weston’s payout ratio is currently 24.84%.
LW has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Lamb Weston from a “strong sell” rating to a “hold” rating and set a $55.00 price target for the company in a research report on Friday, July 26th. Goldman Sachs Group raised shares of Lamb Weston from a “neutral” rating to a “buy” rating and set a $76.00 target price for the company in a report on Wednesday, June 19th. Bank of America raised shares of Lamb Weston from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a report on Tuesday, May 7th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. began coverage on shares of Lamb Weston in a report on Monday, June 17th. They issued a “neutral” rating and a $65.00 target price for the company. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Lamb Weston currently has an average rating of “Buy” and a consensus target price of $75.71.
Institutional investors and hedge funds have recently bought and sold shares of the business. Kavar Capital Partners LLC bought a new position in shares of Lamb Weston in the second quarter worth approximately $25,000. TRUE Private Wealth Advisors bought a new position in shares of Lamb Weston in the second quarter worth approximately $28,000. Gradient Investments LLC bought a new position in shares of Lamb Weston in the second quarter worth approximately $32,000. Coastal Investment Advisors Inc. boosted its position in shares of Lamb Weston by 4,046.2% in the second quarter. Coastal Investment Advisors Inc. now owns 539 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 526 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in shares of Lamb Weston in the second quarter worth approximately $41,000. Institutional investors and hedge funds own 89.95% of the company’s stock.
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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