Shares of Lancaster Colony Corporation (NASDAQ:LANC) have been given an average recommendation of “Hold” by the seven brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $152.00.
LANC has been the subject of a number of research analyst reports. Wedbush reaffirmed a “buy” rating on shares of Lancaster Colony Corporation in a report on Friday, August 18th. Vertical Group raised shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating and lifted their target price for the stock from $123.00 to $146.00 in a research note on Tuesday, May 30th. Zacks Investment Research raised shares of Lancaster Colony Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Vertical Research raised shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating in a research note on Friday, May 26th. Finally, BidaskClub upgraded shares of Lancaster Colony Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th.
Shares of Lancaster Colony Corporation (NASDAQ:LANC) traded down 0.20% during trading on Tuesday, hitting $117.02. The stock had a trading volume of 41,573 shares. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 27.86 and a beta of 1.02. The stock’s 50-day moving average is $120.95 and its 200-day moving average is $125.23. Lancaster Colony Corporation has a 12-month low of $113.34 and a 12-month high of $149.30.
Lancaster Colony Corporation (NASDAQ:LANC) last announced its quarterly earnings data on Thursday, August 17th. The company reported $1.04 EPS for the quarter, missing the Zacks’ consensus estimate of $1.12 by $0.08. The firm had revenue of $289.90 million during the quarter, compared to analyst estimates of $295.05 million. Lancaster Colony Corporation had a net margin of 9.59% and a return on equity of 22.76%. Lancaster Colony Corporation’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 EPS. On average, equities research analysts expect that Lancaster Colony Corporation will post $4.74 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Thursday, September 7th. Lancaster Colony Corporation’s payout ratio is currently 52.26%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in LANC. Advisory Services Network LLC bought a new stake in shares of Lancaster Colony Corporation in the 1st quarter worth about $129,000. Harfst & Associates Inc. bought a new stake in shares of Lancaster Colony Corporation in the 1st quarter worth about $174,000. LS Investment Advisors LLC increased its position in shares of Lancaster Colony Corporation by 19.8% in the 2nd quarter. LS Investment Advisors LLC now owns 1,557 shares of the company’s stock worth $191,000 after purchasing an additional 257 shares during the last quarter. Credit Agricole S A increased its position in shares of Lancaster Colony Corporation by 4.5% in the 1st quarter. Credit Agricole S A now owns 1,522 shares of the company’s stock worth $196,000 after purchasing an additional 66 shares during the last quarter. Finally, Cypress Wealth Advisors LLC increased its position in shares of Lancaster Colony Corporation by 3.4% in the 1st quarter. Cypress Wealth Advisors LLC now owns 1,622 shares of the company’s stock worth $209,000 after purchasing an additional 54 shares during the last quarter. 49.80% of the stock is owned by institutional investors.
About Lancaster Colony Corporation
Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar.
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