1 Magnificent Dividend Stock Down 30% to Buy Right Now Near a Once-in-a-Decade Valuation
French fries remain an undisputed staple in the American eatery experience. They're ordered eight times as often as the next most popular side or appetizer in the United States. Despite the side's popularity, a product as common as french fries doesn't generally elicit thoughts of market-beating returns.
Nevertheless, Lamb Weston (NYSE: LW) aims to prove that this outperformance is possible thanks to its leadership position in the frozen potato products niche. In fact, between 2016 and 2023, Lamb Weston delivered a total return more than double that of the S&P 500 Index.
However, following a few quarters of less-than-appetizing earnings that saw the company's capital expenditures (capex) skyrocket, Lamb Weston's stock price has plunged by 30% from its highs.
Source Fool.com
