Shares of Lancaster Colony Corporation (NASDAQ:LANC) have been given a consensus recommendation of “Hold” by the six brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $152.00.

A number of brokerages have recently commented on LANC. Zacks Investment Research lowered Lancaster Colony from a “hold” rating to a “sell” rating in a report on Friday, November 17th. BidaskClub cut Lancaster Colony from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th.

A number of hedge funds have recently made changes to their positions in LANC. Schwab Charles Investment Management Inc. boosted its stake in Lancaster Colony by 7.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 138,928 shares of the company’s stock valued at $17,036,000 after buying an additional 9,378 shares in the last quarter. Legal & General Group Plc boosted its stake in Lancaster Colony by 19.8% during the second quarter. Legal & General Group Plc now owns 15,215 shares of the company’s stock valued at $1,865,000 after buying an additional 2,514 shares in the last quarter. Comerica Bank boosted its stake in Lancaster Colony by 0.8% during the second quarter. Comerica Bank now owns 15,079 shares of the company’s stock valued at $1,896,000 after buying an additional 121 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Lancaster Colony by 12.1% during the second quarter. Pacer Advisors Inc. now owns 2,558 shares of the company’s stock valued at $314,000 after buying an additional 276 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Lancaster Colony by 2.2% during the second quarter. Principal Financial Group Inc. now owns 82,262 shares of the company’s stock valued at $10,087,000 after buying an additional 1,791 shares in the last quarter. 51.26% of the stock is owned by institutional investors and hedge funds.

Lancaster Colony (LANC) opened at $128.50 on Monday. The company has a market capitalization of $3,526.37, a price-to-earnings ratio of 31.65 and a beta of 1.06. Lancaster Colony has a fifty-two week low of $113.33 and a fifty-two week high of $149.30.

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

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 8th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, December 7th. This represents a $2.40 annualized dividend and a yield of 1.87%. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.55. Lancaster Colony’s dividend payout ratio (DPR) is currently 59.11%.

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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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