Lancaster Colony Co. (NASDAQ:LANC) Receives Average Rating of “Hold” from Analysts

Lancaster Colony Co. (NASDAQ:LANCGet Free Report) has been assigned an average recommendation of “Hold” from the four brokerages that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $198.75.

Several research firms have commented on LANC. StockNews.com upgraded Lancaster Colony from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Stephens reissued an “equal weight” rating and issued a $218.00 price target on shares of Lancaster Colony in a research note on Friday, May 3rd.

View Our Latest Analysis on Lancaster Colony

Lancaster Colony Stock Down 0.1 %

Shares of LANC stock opened at $185.30 on Friday. Lancaster Colony has a twelve month low of $158.88 and a twelve month high of $215.31. The company has a market cap of $5.10 billion, a P/E ratio of 38.44 and a beta of 0.37. The business has a fifty day simple moving average of $193.07 and a 200 day simple moving average of $185.79.

Lancaster Colony (NASDAQ:LANCGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.02. The business had revenue of $471.40 million during the quarter, compared to the consensus estimate of $467.90 million. Lancaster Colony had a return on equity of 18.96% and a net margin of 7.10%. Lancaster Colony’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.89 EPS. As a group, equities research analysts anticipate that Lancaster Colony will post 6.51 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.60 annualized dividend and a yield of 1.94%. Lancaster Colony’s dividend payout ratio is currently 74.69%.

Institutional Investors Weigh In On Lancaster Colony

Large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in Lancaster Colony by 2.5% in the third quarter. Principal Financial Group Inc. now owns 79,852 shares of the company’s stock valued at $13,178,000 after acquiring an additional 1,927 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Lancaster Colony during the third quarter valued at approximately $555,000. Great Valley Advisor Group Inc. bought a new stake in shares of Lancaster Colony during the third quarter valued at approximately $410,000. Arizona State Retirement System increased its holdings in shares of Lancaster Colony by 1.2% during the third quarter. Arizona State Retirement System now owns 5,485 shares of the company’s stock valued at $905,000 after acquiring an additional 64 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Lancaster Colony by 16.0% during the third quarter. Barclays PLC now owns 27,251 shares of the company’s stock valued at $4,497,000 after acquiring an additional 3,762 shares in the last quarter. Institutional investors and hedge funds own 66.44% of the company’s stock.

About Lancaster Colony

(Get Free Report

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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