Lamb Weston (NYSE:LW) Announces Quarterly Dividend of $0.37

Lamb Weston (NYSE:LW - Get Free Report) declared a quarterly dividend on Tuesday, July 15th, RTT News reports. Investors of record on Friday, August 1st will be paid a dividend of 0.37 per share by the specialty retailer on Friday, August 29th. This represents a $1.48 annualized dividend and a dividend yield of 2.97%.

Lamb Weston has a payout ratio of 38.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lamb Weston to earn $3.64 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 40.7%.

Lamb Weston Stock Down 2.4%

LW stock traded down $1.23 during trading on Tuesday, reaching $49.84. The stock had a trading volume of 1,663,501 shares, compared to its average volume of 2,653,038. Lamb Weston has a 1-year low of $47.90 and a 1-year high of $83.98. The company has a current ratio of 1.35, a quick ratio of 0.58 and a debt-to-equity ratio of 2.25. The company has a market capitalization of $7.03 billion, a P/E ratio of 19.55, a PEG ratio of 1.13 and a beta of 0.46. The firm has a fifty day moving average price of $53.05 and a 200 day moving average price of $55.08.

Analyst Ratings Changes

LW has been the subject of a number of analyst reports. Jefferies Financial Group reduced their price target on Lamb Weston from $80.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Bank of America reduced their price objective on Lamb Weston from $60.00 to $56.00 and set a "neutral" rating for the company in a research report on Wednesday, June 18th. Barclays lowered their price objective on shares of Lamb Weston from $69.00 to $61.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $57.00 price target on shares of Lamb Weston in a report on Wednesday, March 19th. Finally, Wells Fargo & Company dropped their price objective on shares of Lamb Weston from $70.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, July 9th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Lamb Weston presently has an average rating of "Hold" and a consensus price target of $67.64.

Institutional Investors Weigh In On Lamb Weston

An institutional investor recently raised its position in Lamb Weston stock. Royal Bank of Canada boosted its holdings in shares of Lamb Weston (NYSE:LW - Free Report) by 29.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 185,038 shares of the specialty retailer's stock after buying an additional 42,039 shares during the quarter. Royal Bank of Canada owned 0.13% of Lamb Weston worth $9,862,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 89.56% of the company's stock.

Lamb Weston Company Profile

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.

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