Sen. Gary C. Peters Sells Off Shares of Lamb Weston Holdings, Inc. (NYSE:LW)

Senator Gary C. Peters (D-Michigan) recently sold shares of Lamb Weston Holdings, Inc. (NYSE:LW). In a filing disclosed on November 14th, the Senator disclosed that they had sold between $1,001 and $15,000 in Lamb Weston stock on October 31st.

Senator Gary C. Peters also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Leggett & Platt (NYSE:LEG) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Invesco (NYSE:IVZ) on 10/17/2024.

Lamb Weston Stock Down 6.1 %

Lamb Weston stock opened at $75.47 on Friday. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.43 and a beta of 0.72. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.54 and a current ratio of 1.19. Lamb Weston Holdings, Inc. has a fifty-two week low of $52.99 and a fifty-two week high of $111.88. The stock’s fifty day moving average is $71.80 and its two-hundred day moving average is $74.21.

Lamb Weston (NYSE:LW) last issued its quarterly earnings data on Tuesday, October 1st. The specialty retailer reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Lamb Weston had a net margin of 9.57% and a return on equity of 34.33%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the prior year, the company earned $1.63 EPS. The firm’s revenue was down .7% on a year-over-year basis. Analysts predict that Lamb Weston Holdings, Inc. will post 4.26 EPS for the current fiscal year.

Lamb Weston Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 1st will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.44 dividend on an annualized basis and a yield of 1.91%. Lamb Weston’s payout ratio is 33.80%.

Wall Street Analysts Forecast Growth

LW has been the topic of a number of recent research reports. Stifel Nicolaus upped their target price on Lamb Weston from $65.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Bank of America upped their price objective on Lamb Weston from $68.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Consumer Edge cut Lamb Weston from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. TD Cowen upped their target price on shares of Lamb Weston from $61.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $68.00 price target (up from $63.00) on shares of Lamb Weston in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $82.22.

Institutional Investors Weigh In On Lamb Weston

Several hedge funds have recently modified their holdings of LW. Southpoint Capital Advisors LP acquired a new position in Lamb Weston during the third quarter worth approximately $129,480,000. Clarkston Capital Partners LLC grew its stake in shares of Lamb Weston by 108.7% during the 3rd quarter. Clarkston Capital Partners LLC now owns 3,107,929 shares of the specialty retailer’s stock valued at $201,207,000 after buying an additional 1,618,570 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Lamb Weston during the 3rd quarter worth $86,883,000. TPG GP A LLC raised its position in shares of Lamb Weston by 74.4% in the 2nd quarter. TPG GP A LLC now owns 2,924,230 shares of the specialty retailer’s stock worth $245,869,000 after buying an additional 1,247,206 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Lamb Weston by 78.5% in the second quarter. Marshall Wace LLP now owns 1,888,556 shares of the specialty retailer’s stock valued at $158,790,000 after acquiring an additional 830,511 shares during the last quarter. 89.56% of the stock is owned by institutional investors and hedge funds.

About Senator Peters

Gary Peters (Democratic Party) is a member of the U.S. Senate from Michigan. He assumed office on January 3, 2015. His current term ends on January 3, 2027. Peters (Democratic Party) ran for re-election to the U.S. Senate to represent Michigan. He won in the general election on November 3, 2020. Peters completed Ballotpedia’s Candidate Connection survey in 2020. Click here to read the survey answers. Peters was elected to the Senate in 2014. On May 1, 2013, Peters announced he would seek election to the United States Senate seat that was being vacated in 2014 by retiring Michigan Sen. Carl Levin. Peters ran unopposed in the Democratic primary on August 5, 2014, before he defeated Terri Lynn Land (R), Jim Fulner (Libertarian), Richard Matkin (U.S. Taxpayers), and Chris Wahmhoff (Green) in the general election on November 4, 2014. Peters was previously a member of the U.S. House of Representatives representing Michigan’s 9th Congressional District from 2009 to 2013 and Michigan’s 14th Congressional District from 2013 to 2015. He also served as Commissioner of the Michigan Lottery from 2003 to 2007. As of a 2014 analysis of multiple outside rankings, Peters is an average Democratic member of Congress, meaning he will vote with the Democratic Party on the majority of bills. On January 28, 2021, Senate Majority Leader Chuck Schumer (D-N.Y.) appointed Peters to head the Democratic Senatorial Campaign Committee for the 2022 campaign cycle. Peters was born in 1958 in Pontiac, Michigan. After graduating from Alma College in 1980, Peters went on to receive his M.B.A. from the University of Detroit and his J.D. from Wayne State University in 1985 and 1989, respectively. Prior to his political career, Peters worked as a professor and investment banker. He also served in the United States Naval Reserve from 1993 to 2000 and from 2001 to 2005.

About Lamb Weston

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.