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Lamb Weston (LW) Rewards Investors With a Dividend Hike
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Lamb Weston Holdings, Inc. (LW - Free Report) is focused on enhancing shareholders’ returns. The leading global provider of frozen potato products company hiked its quarterly dividend by 29% from the prior rate.
The company will pay a quarterly dividend of 36 cents per share. The hiked dividend is payable on Mar 1, 2024, to shareholders record as of Feb 2, 2024. Lamb Weston currently has a dividend payout of 20% and a dividend yield of 1.1%.
During the first quarter of fiscal 2024, management paid out dividends worth $41 million. The company also repurchased 992,365 shares for $100 million. Well, dividend payouts and share buybacks are the biggest enticements for investors. LW is committed to boosting shareholders’ value.
Image Source: Zacks Investment Research
What Else Should You Know?
Lamb Weston’s sturdy balance sheet and capacity to generate cash keep it well-placed to boost production capacity and fuel long-term growth. The company’s efforts to expand offerings and capacity enable it to meet rising demand conditions for snacks and fries effectively.
Capital expenditures amounted to nearly $305 million thanks to construction costs in the first quarter of fiscal 2024. Management is on track to expand its processing capacity in China, Idaho, Argentina, and the Netherlands. For fiscal 2024, the company expects cash to be used for capital expenditures in the $800-$900 million band.
The company’s global manufacturing footprint, with cutting-edge production capabilities, is yielding. Its global supply chain optimization initiatives and disciplined capital allocation strategy have created a more profitable and high-growth business. Management’s focus on innovations creates opportunities to drive growth and widen the total addressable market.
Wrapping Up
Lamb Weston continues to reap benefits from a compelling pricing scenario and a solid operating momentum. The company’s focus on improving supply chain productivity and global expansion efforts have been a primary growth driver.
The Zacks Rank #2 (Buy) company’s shares have increased 7.3% in the past three months compared with the industry’s 0.7% growth.
The Zacks Consensus Estimate for MGP Ingredients’ current financial year sales and earnings suggests growth of almost 6% and 14.2%, respectively, from the year-ago reported figures. MGPI has a trailing four-quarter earnings surprise of 16.2% on average.
Celsius Holdings (CELH - Free Report) , which offers functional drinks and liquid supplements, carries a Zacks Rank #2. CELH delivered an earnings surprise of 81.6% in the third quarter of 2023.
The Zacks Consensus Estimate for Celsius Holdings’ current financial year sales and earnings suggests growth of 98.5% and 185.2%, respectively, from the year-ago reported numbers.
Vital Farms Inc. (VITL - Free Report) offers a range of produced pasture-raised foods. It currently has a Zacks Rank #2. VITL has a trailing four-quarter earnings surprise of 145% on average.
The Zacks Consensus Estimate for Vital Farms’ current financial year sales suggests growth of 29.4% from the year-ago reported figure.
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Lamb Weston (LW) Rewards Investors With a Dividend Hike
Lamb Weston Holdings, Inc. (LW - Free Report) is focused on enhancing shareholders’ returns. The leading global provider of frozen potato products company hiked its quarterly dividend by 29% from the prior rate.
The company will pay a quarterly dividend of 36 cents per share. The hiked dividend is payable on Mar 1, 2024, to shareholders record as of Feb 2, 2024. Lamb Weston currently has a dividend payout of 20% and a dividend yield of 1.1%.
During the first quarter of fiscal 2024, management paid out dividends worth $41 million. The company also repurchased 992,365 shares for $100 million. Well, dividend payouts and share buybacks are the biggest enticements for investors. LW is committed to boosting shareholders’ value.
Image Source: Zacks Investment Research
What Else Should You Know?
Lamb Weston’s sturdy balance sheet and capacity to generate cash keep it well-placed to boost production capacity and fuel long-term growth. The company’s efforts to expand offerings and capacity enable it to meet rising demand conditions for snacks and fries effectively.
Capital expenditures amounted to nearly $305 million thanks to construction costs in the first quarter of fiscal 2024. Management is on track to expand its processing capacity in China, Idaho, Argentina, and the Netherlands. For fiscal 2024, the company expects cash to be used for capital expenditures in the $800-$900 million band.
The company’s global manufacturing footprint, with cutting-edge production capabilities, is yielding. Its global supply chain optimization initiatives and disciplined capital allocation strategy have created a more profitable and high-growth business. Management’s focus on innovations creates opportunities to drive growth and widen the total addressable market.
Wrapping Up
Lamb Weston continues to reap benefits from a compelling pricing scenario and a solid operating momentum. The company’s focus on improving supply chain productivity and global expansion efforts have been a primary growth driver.
The Zacks Rank #2 (Buy) company’s shares have increased 7.3% in the past three months compared with the industry’s 0.7% growth.
Top-Ranked Staple Stocks
MGP Ingredients, Inc. (MGPI - Free Report) produces and markets ingredients and distillery products to the packaged goods industry. The company currently has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for MGP Ingredients’ current financial year sales and earnings suggests growth of almost 6% and 14.2%, respectively, from the year-ago reported figures. MGPI has a trailing four-quarter earnings surprise of 16.2% on average.
Celsius Holdings (CELH - Free Report) , which offers functional drinks and liquid supplements, carries a Zacks Rank #2. CELH delivered an earnings surprise of 81.6% in the third quarter of 2023.
The Zacks Consensus Estimate for Celsius Holdings’ current financial year sales and earnings suggests growth of 98.5% and 185.2%, respectively, from the year-ago reported numbers.
Vital Farms Inc. (VITL - Free Report) offers a range of produced pasture-raised foods. It currently has a Zacks Rank #2. VITL has a trailing four-quarter earnings surprise of 145% on average.
The Zacks Consensus Estimate for Vital Farms’ current financial year sales suggests growth of 29.4% from the year-ago reported figure.