Lancaster Colony Corporation (NASDAQ:LANC) Receives Average Rating of “Buy” from Analysts
Shares of Lancaster Colony Corporation (NASDAQ:LANC) have been given an average recommendation of “Buy” by the seven brokerages that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $148.00.
Several equities research analysts have issued reports on LANC shares. Zacks Investment Research downgraded shares of Lancaster Colony Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th. Wedbush reiterated an “outperform” rating and set a $160.00 price objective on shares of Lancaster Colony Corporation in a research note on Monday, April 24th. Vertical Research upgraded shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating in a research note on Friday, May 26th. Finally, Vertical Group upgraded shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $123.00 to $146.00 in a research note on Tuesday, May 30th.
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Several hedge funds and other institutional investors have recently made changes to their positions in LANC. Dynamic Technology Lab Private Ltd increased its position in shares of Lancaster Colony Corporation by 34.3% in the first quarter. Dynamic Technology Lab Private Ltd now owns 3,873 shares of the company’s stock valued at $499,000 after buying an additional 989 shares during the period. Norges Bank purchased a new position in shares of Lancaster Colony Corporation during the fourth quarter valued at $26,849,000. Profund Advisors LLC increased its position in shares of Lancaster Colony Corporation by 3.4% in the first quarter. Profund Advisors LLC now owns 2,821 shares of the company’s stock valued at $363,000 after buying an additional 92 shares during the period. Fisher Asset Management LLC increased its position in shares of Lancaster Colony Corporation by 0.9% in the first quarter. Fisher Asset Management LLC now owns 403,475 shares of the company’s stock valued at $51,984,000 after buying an additional 3,764 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Lancaster Colony Corporation by 3.5% in the first quarter. Ameriprise Financial Inc. now owns 68,026 shares of the company’s stock valued at $8,764,000 after buying an additional 2,280 shares during the period. Institutional investors and hedge funds own 50.59% of the company’s stock.
Lancaster Colony Corporation (NASDAQ:LANC) traded up 0.59% during trading on Monday, hitting $123.63. 13,063 shares of the company were exchanged. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 28.89 and a beta of 1.02. Lancaster Colony Corporation has a 12 month low of $117.50 and a 12 month high of $149.30. The company has a 50-day moving average of $124.30 and a 200-day moving average of $130.75.
Lancaster Colony Corporation (NASDAQ:LANC) last released its quarterly earnings data on Thursday, April 27th. The company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by $0.14. Lancaster Colony Corporation had a return on equity of 23.80% and a net margin of 9.82%. The business had revenue of $293.83 million for the quarter, compared to analysts’ expectations of $286.37 million. During the same quarter in the prior year, the firm earned $1.06 earnings per share. Lancaster Colony Corporation’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts forecast that Lancaster Colony Corporation will post $4.71 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 8th were paid a $0.55 dividend. The ex-dividend date was Tuesday, June 6th. This represents a $2.20 annualized dividend and a dividend yield of 1.79%. Lancaster Colony Corporation’s dividend payout ratio (DPR) is presently 51.28%.
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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