Lamb Weston (NYSE:LW – Get Rating) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, October 5th. Analysts expect Lamb Weston to post earnings of $0.51 per share for the quarter. Lamb Weston has set its FY23 guidance at 2.45-2.85 EPS.Individual that wish to listen to the company's earnings conference call can do so using this link.
Lamb Weston (NYSE:LW – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The specialty retailer reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.14. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.07 billion. Lamb Weston had a net margin of 4.90% and a return on equity of 78.71%. On average, analysts expect Lamb Weston to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.
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Shares of LW opened at $77.17 on Wednesday. The firm has a market cap of $11.09 billion, a PE ratio of 56.33, a price-to-earnings-growth ratio of 1.19 and a beta of 0.53. The company's fifty day moving average is $79.27 and its two-hundred day moving average is $70.28. Lamb Weston has a fifty-two week low of $49.71 and a fifty-two week high of $83.29. The company has a quick ratio of 1.55, a current ratio of 2.37 and a debt-to-equity ratio of 7.48.
Lamb Weston Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 5th were paid a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Thursday, August 4th. Lamb Weston's dividend payout ratio is presently 71.53%.Analyst Ratings Changes
Separately, TheStreet downgraded shares of Lamb Weston from a "b-" rating to a "c+" rating in a research note on Wednesday, July 27th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Lamb Weston has a consensus rating of "Moderate Buy" and a consensus target price of $67.67.
Insider Buying and Selling
In related news, SVP Eryk J. Spytek sold 3,001 shares of the firm's stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $79.97, for a total value of $239,989.97. Following the sale, the senior vice president now owns 47,936 shares of the company's stock, valued at approximately $3,833,441.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Lamb Weston news, SVP Eryk J. Spytek sold 3,867 shares of Lamb Weston stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $75.00, for a total transaction of $290,025.00. Following the sale, the senior vice president now owns 37,955 shares of the company's stock, valued at approximately $2,846,625. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Eryk J. Spytek sold 3,001 shares of Lamb Weston stock in a transaction on Friday, August 5th. The shares were sold at an average price of $79.97, for a total value of $239,989.97. Following the sale, the senior vice president now directly owns 47,936 shares in the company, valued at approximately $3,833,441.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,654 shares of company stock valued at $755,709. Insiders own 0.80% of the company's stock.
Institutional Trading of Lamb Weston
Several hedge funds have recently added to or reduced their stakes in the business. Eagle Bay Advisors LLC bought a new stake in shares of Lamb Weston in the 2nd quarter worth $29,000. Parkside Financial Bank & Trust grew its holdings in shares of Lamb Weston by 330.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 628 shares of the specialty retailer's stock worth $37,000 after acquiring an additional 482 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Lamb Weston in the 1st quarter worth $92,000. Mackenzie Financial Corp acquired a new position in shares of Lamb Weston in the 1st quarter worth $255,000. Finally, Advisory Services Network LLC acquired a new position in shares of Lamb Weston in the 1st quarter worth $328,000. Institutional investors own 90.05% of the company's stock.
About Lamb Weston
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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, commercial ingredients, and appetizers under the Lamb Weston brand, as well as under various customer labels.
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