Updating Lamb Weston Holdings Inc., Baidu Inc. (ADR) and Canadian Imperial Bank of Commerce

Article Excerpt

LAMB WESTON HOLDINGS INC. $66 (New York symbol LW; Consumer sector; Shares outstanding: 146.2 million; Market cap: $9.6 billion; Dividend yield: 1.2%; Takeover Target Rating: Medium; www.lambweston.com) sells frozen potatoes and other vegetable products to restaurants and prepared-food makers. Until November 9, 2016, the company was a wholly owned subsidiary of Conagra Brands Inc. (New York symbol CAG, see below). That’s when Conagra spun off Lamb Weston and handed its investors one Lamb Weston share for every three Conagra shares they held. Lamb Weston’s sales in its fiscal 2018 third quarter, ended February 25, 2018, rose 12.3%, to $863.4 million from $768.5 million a year earlier. The improved results are due to both higher selling prices (up 7%) and volumes (up 5%). If you disregard costs related to the spinoff and other unusual items, Lamb Weston earned $0.76 a share in the latest quarter, up 28.8% from $0.59 a year earlier. Lamb Weston is a buy. BAIDU INC. (ADR) $238 (Nasdaq symbol BIDU; Manufacturing & Industry sector; ADRs…