Lancaster Colony Corporation (LANC) Given Consensus Recommendation of “Hold” by Analysts
Shares of Lancaster Colony Corporation (NASDAQ:LANC) have earned an average rating of “Hold” from the seven brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $152.00.
LANC has been the subject of a number of research analyst reports. Wedbush reissued a “buy” rating on shares of Lancaster Colony Corporation in a report on Friday, August 18th. Zacks Investment Research raised Lancaster Colony Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, BidaskClub raised Lancaster Colony Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th.
Several institutional investors and hedge funds have recently modified their holdings of LANC. Advisory Services Network LLC grew its holdings in shares of Lancaster Colony Corporation by 31.8% in the second quarter. Advisory Services Network LLC now owns 1,325 shares of the company’s stock worth $162,000 after acquiring an additional 320 shares during the period. LS Investment Advisors LLC grew its holdings in shares of Lancaster Colony Corporation by 19.8% in the second quarter. LS Investment Advisors LLC now owns 1,557 shares of the company’s stock worth $191,000 after acquiring an additional 257 shares during the period. Credit Agricole S A grew its holdings in shares of Lancaster Colony Corporation by 4.5% in the first quarter. Credit Agricole S A now owns 1,522 shares of the company’s stock worth $196,000 after acquiring an additional 66 shares during the period. Capstone Asset Management Co. grew its holdings in shares of Lancaster Colony Corporation by 4.6% in the second quarter. Capstone Asset Management Co. now owns 1,832 shares of the company’s stock worth $225,000 after acquiring an additional 80 shares during the period. Finally, Stifel Financial Corp bought a new stake in shares of Lancaster Colony Corporation in the first quarter worth $261,000. 50.12% of the stock is owned by institutional investors.
Lancaster Colony Corporation (NASDAQ LANC) opened at 118.89 on Wednesday. Lancaster Colony Corporation has a 52 week low of $113.33 and a 52 week high of $149.30. The firm has a 50-day moving average price of $119.53 and a 200-day moving average price of $122.51. The company has a market cap of $3.26 billion, a P/E ratio of 28.31 and a beta of 1.03.
Lancaster Colony Corporation (NASDAQ:LANC) last posted its earnings results 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 business had revenue of $289.90 million during the quarter, compared to the consensus estimate of $295.05 million. Lancaster Colony Corporation had a return on equity of 22.76% and a net margin of 9.59%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 EPS. Equities research analysts anticipate that Lancaster Colony Corporation will post $4.70 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, September 7th. Lancaster Colony Corporation’s payout ratio is currently 52.26%.
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Lancaster Colony Corporation Company Profile
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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