Lancaster Colony (NASDAQ:LANC) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.
Separately, Zacks Investment Research upgraded shares of Lancaster Colony from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $154.67.
Shares of Lancaster Colony (NASDAQ:LANC) traded down $0.13 during trading hours on Friday, hitting $128.50. 63,614 shares of the company were exchanged, compared to its average volume of 90,499. Lancaster Colony has a fifty-two week low of $113.33 and a fifty-two week high of $149.30. The firm has a market capitalization of $3,529.94, a price-to-earnings ratio of 31.65 and a beta of 1.06.
A number of hedge funds have recently modified their holdings of the business. Independent Advisor Alliance increased its stake in Lancaster Colony by 14.8% in the 3rd quarter. Independent Advisor Alliance now owns 5,100 shares of the company’s stock valued at $619,000 after buying an additional 656 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Lancaster Colony by 29.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 944,727 shares of the company’s stock valued at $113,481,000 after buying an additional 214,154 shares during the last quarter. California Public Employees Retirement System increased its stake in Lancaster Colony by 3.2% in the 3rd quarter. California Public Employees Retirement System now owns 45,012 shares of the company’s stock valued at $5,407,000 after buying an additional 1,412 shares during the last quarter. Jane Street Group LLC acquired a new stake in Lancaster Colony in the 3rd quarter valued at $589,000. Finally, Vident Investment Advisory LLC bought a new position in shares of Lancaster Colony in the 3rd quarter valued at about $210,000. Hedge funds and other institutional investors own 51.26% of the company’s stock.
About Lancaster Colony
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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