Lancaster Colony Corp. (NASDAQ:LANC) was the recipient of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 754,449 shares, a growth of 36.1% from the January 12th total of 554,134 shares. Based on an average trading volume of 183,095 shares, the short-interest ratio is currently 4.1 days. Approximately 4.1% of the company’s shares are short sold.
Several research firms have commented on LANC. Zacks Investment Research raised shares of Lancaster Colony from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. BidaskClub raised shares of Lancaster Colony from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $153.00.
Several hedge funds and other institutional investors have recently made changes to their positions in LANC. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Lancaster Colony during the 3rd quarter valued at $151,000. Advisory Services Network LLC grew its stake in shares of Lancaster Colony by 31.8% during the 2nd quarter. Advisory Services Network LLC now owns 1,325 shares of the company’s stock valued at $162,000 after buying an additional 320 shares during the period. Vident Investment Advisory LLC purchased a new stake in shares of Lancaster Colony during the 3rd quarter valued at $210,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Lancaster Colony during the 3rd quarter valued at $243,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Lancaster Colony by 55.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the company’s stock valued at $270,000 after buying an additional 789 shares during the period. 51.31% of the stock is owned by institutional investors.
Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings data on Thursday, January 25th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.18). Lancaster Colony had a net margin of 9.84% and a return on equity of 19.65%. The company had revenue of $319.70 million for the quarter, compared to analysts’ expectations of $335.10 million. During the same period in the prior year, the firm earned $1.42 earnings per share. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. analysts anticipate that Lancaster Colony will post 4.62 EPS for the current year.
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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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