Sen. Gary C. Peters Sells 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 Up 0.4 %

Shares of NYSE:LW opened at $80.41 on Friday. The stock has a 50-day simple moving average of $71.19 and a 200-day simple moving average of $74.30. The stock has a market capitalization of $11.47 billion, a P/E ratio of 18.88, a PEG ratio of 1.43 and a beta of 0.72. Lamb Weston Holdings, Inc. has a 1 year low of $52.99 and a 1 year high of $111.88. 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 (NYSE:LW) last released its quarterly earnings data on Tuesday, October 1st. The specialty retailer reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.55 billion. Lamb Weston had a net margin of 9.57% and a return on equity of 34.33%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 earnings per share. Equities analysts forecast that Lamb Weston Holdings, Inc. will post 4.26 earnings per share for the current year.

Lamb Weston Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 1st will be issued a $0.36 dividend. The ex-dividend date is Friday, November 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.79%. Lamb Weston’s dividend payout ratio (DPR) is 33.80%.

Institutional Investors Weigh In On Lamb Weston

Large investors have recently added to or reduced their stakes in the stock. Southpoint Capital Advisors LP bought a new position in Lamb Weston in the third quarter worth $129,480,000. Clarkston Capital Partners LLC raised its position in Lamb Weston by 108.7% in 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 purchasing an additional 1,618,570 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Lamb Weston during the 3rd quarter worth about $86,883,000. TPG GP A LLC increased its holdings in shares of Lamb Weston by 74.4% in the second quarter. TPG GP A LLC now owns 2,924,230 shares of the specialty retailer’s stock valued at $245,869,000 after purchasing an additional 1,247,206 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Lamb Weston by 78.5% during 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 period. Institutional investors own 89.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LW. Wells Fargo & Company boosted their price objective on Lamb Weston from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Stifel Nicolaus upped their price target on Lamb Weston from $65.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, October 25th. The Goldman Sachs Group dropped their price objective on shares of Lamb Weston from $132.00 to $78.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Consumer Edge downgraded shares of Lamb Weston from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. reaffirmed 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $82.22.

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.