Shares of Lancaster Colony Corporation (NASDAQ:LANC) have been given a consensus rating of “Hold” by the six brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $152.00.

LANC has been the subject of several analyst reports. Zacks Investment Research upgraded Lancaster Colony Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. BidaskClub upgraded Lancaster Colony Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. Finally, Wedbush restated a “buy” rating on shares of Lancaster Colony Corporation in a research note on Friday, August 18th.

Shares of Lancaster Colony Corporation (NASDAQ LANC) opened at $126.41 on Friday. The company has a market capitalization of $3,469.07, a price-to-earnings ratio of 28.22 and a beta of 1.04. Lancaster Colony Corporation has a 12 month low of $113.33 and a 12 month high of $149.30.

Lancaster Colony Corporation (NASDAQ:LANC) last posted its quarterly earnings data on Thursday, October 26th. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.04). The company had revenue of $298.92 million during the quarter, compared to analysts’ expectations of $298.75 million. Lancaster Colony Corporation had a return on equity of 21.50% and a net margin of 9.20%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $1.22 earnings per share. analysts forecast that Lancaster Colony Corporation will post 4.62 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.90%. This is a positive change from Lancaster Colony Corporation’s previous quarterly dividend of $0.55. The ex-dividend date is Thursday, December 7th. Lancaster Colony Corporation’s dividend payout ratio is 54.19%.

Several large investors have recently bought and sold shares of LANC. Vanguard Group Inc. increased its stake in Lancaster Colony Corporation by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,887,011 shares of the company’s stock worth $231,385,000 after buying an additional 11,486 shares in the last quarter. Neuberger Berman Group LLC increased its stake in Lancaster Colony Corporation by 29.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 944,727 shares of the company’s stock worth $113,481,000 after buying an additional 214,154 shares in the last quarter. Renaissance Technologies LLC increased its stake in Lancaster Colony Corporation by 23.0% in the 2nd quarter. Renaissance Technologies LLC now owns 750,762 shares of the company’s stock worth $92,058,000 after buying an additional 140,262 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Lancaster Colony Corporation by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 499,259 shares of the company’s stock worth $59,971,000 after buying an additional 3,687 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Lancaster Colony Corporation by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 419,791 shares of the company’s stock worth $50,425,000 after buying an additional 16,908 shares in the last quarter. Hedge funds and other institutional investors own 49.90% of the company’s stock.

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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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