William G. Jurgensen, a director at Lamb Weston Holdings, Inc. (NYSE:LW), recently acquired 5,000 shares of the company's common stock. The shares were purchased at a price of $63.2699 each, bringing the total transaction value to approximately $316,349. The timing is notable as InvestingPro data shows the stock has declined over 24% in the past week and currently trades near oversold levels. This acquisition increases Jurgensen's total holdings to 181,249.8 shares. Notably, this figure includes an additional 11.51 shares acquired through a dividend reinvestment feature since his last report. The company has maintained a strong dividend profile, having raised its dividend for 8 consecutive years, with current liquid assets exceeding short-term obligations. For deeper insights into Lamb Weston's financial health and additional analysis, investors can access comprehensive research reports on InvestingPro.
In other recent news, Lamb Weston has undergone significant changes in its leadership and financial outlook. The company has appointed Michael J. Smith as its new CEO, replacing Thomas P. Werner who will transition into an advisory role. Despite a challenging period marked by a 25% drop in EBITDA to $282 million and sales that fell short of projections, Lamb Weston maintains strong fundamentals with $6.32 billion in revenue and healthy liquidity.
Several financial services firms have adjusted their outlooks on Lamb Weston. Stifel, Deutsche Bank (ETR:DBKGn), and Citi have all reduced their price targets, maintaining a Hold or Neutral rating. Bernstein SocGen Group, however, continued its Market Perform rating despite disappointing earnings and a lower gross margin than expected.
In response to these challenges, Lamb Weston is implementing a restructuring plan and reducing its capacity footprint. These are recent developments in Lamb Weston's business operations and financial performance. The company has also revised its future earnings guidance downward, anticipating a weaker second half in terms of revenue. These changes come as the company prepares for a leadership transition with Michael Smith taking over as CEO and President in early January.
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