Lancaster Colony Corp. (NASDAQ:LANC) shares hit a new 52-week high during trading on Monday . The company traded as high as $165.50 and last traded at $162.90, with a volume of 112652 shares traded. The stock had previously closed at $163.13.

A number of research analysts have recently weighed in on LANC shares. BidaskClub cut Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. CL King began coverage on shares of Lancaster Colony in a research note on Wednesday, January 22nd. They issued a “buy” rating for the company. ValuEngine upgraded shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Friday, December 13th. Finally, DA Davidson initiated coverage on shares of Lancaster Colony in a report on Thursday, November 21st. They issued a “neutral” rating and a $160.00 target price for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $157.00.

The firm has a 50 day moving average of $159.49 and a 200-day moving average of $151.23. The company has a current ratio of 2.70, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The company has a market cap of $4.48 billion, a P/E ratio of 29.51 and a beta of 0.32.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.34. The business had revenue of $337.10 million during the quarter, compared to the consensus estimate of $333.31 million. Lancaster Colony had a return on equity of 19.98% and a net margin of 11.46%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.42 EPS.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 6th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.72%. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, December 5th.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Lancaster Colony by 1.3% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 5,644 shares of the company’s stock valued at $783,000 after purchasing an additional 74 shares during the last quarter. Comerica Bank boosted its position in shares of Lancaster Colony by 0.8% during the 3rd quarter. Comerica Bank now owns 11,266 shares of the company’s stock valued at $1,566,000 after acquiring an additional 93 shares during the last quarter. State of Michigan Retirement System boosted its position in shares of Lancaster Colony by 1.7% during the 4th quarter. State of Michigan Retirement System now owns 5,820 shares of the company’s stock valued at $932,000 after acquiring an additional 100 shares during the last quarter. 6 Meridian grew its holdings in shares of Lancaster Colony by 3.8% in the fourth quarter. 6 Meridian now owns 3,721 shares of the company’s stock valued at $596,000 after purchasing an additional 136 shares in the last quarter. Finally, Texas Permanent School Fund grew its holdings in shares of Lancaster Colony by 1.7% in the third quarter. Texas Permanent School Fund now owns 13,473 shares of the company’s stock valued at $1,868,000 after purchasing an additional 219 shares in the last quarter. Institutional investors own 56.55% of the company’s stock.

About Lancaster Colony (NASDAQ:LANC)

Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates through two segments, Retail and Foodservice. It offers frozen garlic breads under the New York BRAND Bakery brand; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand name; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardini's, and Girard's brands; and vegetable dips and fruit dips under the Marzetti brand.

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