Lamb Weston (NYSE:LW) Downgraded to Neutral at The Goldman Sachs Group
Lamb Weston (NYSE:LW) was downgraded by equities research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, Briefing.com reports. They currently have a $81.00 price objective on the specialty retailer’s stock, down from their previous price objective of $84.00. The Goldman Sachs Group’s price objective points to a potential upside of 3.86% from the company’s current price.
Separately, Bank of America upgraded Lamb Weston from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Monday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $81.20.
LW stock opened at $77.99 on Thursday. The company has a market cap of $11.41 billion, a PE ratio of 38.61, a price-to-earnings-growth ratio of 3.31 and a beta of 0.78. The company has a quick ratio of 1.88, a current ratio of 2.91 and a debt-to-equity ratio of 6.65. Lamb Weston has a 52 week low of $51.72 and a 52 week high of $86.41. The business has a 50-day simple moving average of $80.38 and a 200 day simple moving average of $75.25.
In related news, CEO Thomas P. Werner sold 69,500 shares of Lamb Weston stock in a transaction that occurred on Friday, January 15th. The stock was sold at an average price of $77.65, for a total transaction of $5,396,675.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Eryk J. Spytek sold 6,183 shares of the company’s stock in a transaction on Wednesday, January 13th. The stock was sold at an average price of $75.00, for a total transaction of $463,725.00. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.
A number of large investors have recently bought and sold shares of LW. Perigon Wealth Management LLC purchased a new position in shares of Lamb Weston in the 4th quarter worth approximately $25,000. Tompkins Financial Corp bought a new stake in shares of Lamb Weston in the fourth quarter valued at approximately $25,000. Regent Peak Wealth Advisors LLC purchased a new stake in shares of Lamb Weston during the 4th quarter valued at approximately $27,000. Key Financial Inc bought a new position in Lamb Weston in the 4th quarter worth approximately $41,000. Finally, CI Investments Inc. grew its stake in Lamb Weston by 62.0% in the 4th quarter. CI Investments Inc. now owns 758 shares of the specialty retailer’s stock valued at $60,000 after buying an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 86.38% 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, commercial ingredients, and appetizers under the Lamb Weston brand, as well as various customer labels.
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