Lancaster Colony Co. (NASDAQ:LANC - Get Free Report) has earned a consensus rating of "Hold" from the five ratings firms that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $193.50.
A number of research analysts recently issued reports on LANC shares. StockNews.com downgraded Lancaster Colony from a "buy" rating to a "hold" rating in a research note on Friday, August 23rd. Stephens lowered their price target on Lancaster Colony from $200.00 to $196.00 and set an "equal weight" rating on the stock in a report on Friday, November 1st. Benchmark reissued a "hold" rating on shares of Lancaster Colony in a report on Friday, November 1st. Finally, Loop Capital lowered their price target on Lancaster Colony from $232.00 to $227.00 and set a "buy" rating on the stock in a report on Friday, November 1st.
Get Our Latest Analysis on Lancaster Colony
In other news, Director Elliot K. Fullen acquired 3,000 shares of the firm's stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average cost of $169.00 per share, with a total value of $507,000.00. Following the acquisition, the director now directly owns 5,298 shares of the company's stock, valued at approximately $895,362. The trade was a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 29.50% of the company's stock.
Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Lancaster Colony during the 2nd quarter worth approximately $1,528,000. Susquehanna Fundamental Investments LLC purchased a new stake in Lancaster Colony during the 1st quarter valued at $868,000. Leeward Investments LLC MA raised its holdings in Lancaster Colony by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 51,981 shares of the company's stock valued at $9,823,000 after buying an additional 2,771 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in Lancaster Colony during the 2nd quarter valued at $658,000. Finally, William B. Walkup & Associates Inc. purchased a new stake in Lancaster Colony during the 2nd quarter valued at $685,000. 66.44% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:LANC opened at $191.35 on Wednesday. The stock has a 50 day moving average of $177.94 and a 200 day moving average of $184.72. The company has a market cap of $5.28 billion, a PE ratio of 33.11 and a beta of 0.35. Lancaster Colony has a 12-month low of $161.54 and a 12-month high of $215.31.
Lancaster Colony (NASDAQ:LANC - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.70 by ($0.08). The company had revenue of $466.56 million for the quarter, compared to the consensus estimate of $468.36 million. Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The company's revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.70 earnings per share. Equities research analysts predict that Lancaster Colony will post 6.99 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $3.60 annualized dividend and a dividend yield of 1.88%. Lancaster Colony's dividend payout ratio (DPR) is 62.28%.
Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.
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