Lamb Weston Boosts Share Buyback Program, Provides Long-Term Outlook & More
Portfolio Pulse from Lekha Gupta
Lamb Weston Holdings Inc (LW) has increased its share repurchase authorization to $500 million, including the remaining unused capacity of around $124 million from the previous program. The company reiterated its FY24 outlook and provided long-term financial targets, expecting net sales growth in the low-to-mid-single digits and adjusted EPS growth in the high single digits. LW's shares are currently trading lower by 2.03%.
October 11, 2023 | 2:33 pm
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NEUTRAL IMPACT
Lamb Weston Holdings has increased its share repurchase program and provided positive long-term financial targets, which could attract investors. However, the stock is currently trading lower.
The increase in the share repurchase program and positive long-term financial targets indicate the company's confidence in its financial health and future growth, which could attract investors. However, the current decrease in the stock price suggests market factors or investor sentiment not fully aligned with the company's outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100