Lancaster Colony (NASDAQ:LANC) was downgraded by equities researchers at CL King to a “neutral” rating in a research report issued to clients and investors on Friday, The Fly reports. The analysts noted that the move was a valuation call.
A number of other brokerages also recently commented on LANC. BidaskClub upgraded Lancaster Colony from a “hold” rating to a “buy” rating in a report on Saturday, July 7th. Vertical Group downgraded Lancaster Colony from a “buy” rating to a “hold” rating in a report on Wednesday, June 27th. Finally, Zacks Investment Research upgraded Lancaster Colony from a “strong sell” rating to a “hold” rating in a report on Thursday, April 12th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Lancaster Colony presently has an average rating of “Hold” and an average target price of $150.00.
Shares of Lancaster Colony stock opened at $147.65 on Friday. The company has a market cap of $4.05 billion, a P/E ratio of 34.72 and a beta of 0.94. Lancaster Colony has a 52 week low of $113.33 and a 52 week high of $149.70.
Institutional investors and hedge funds have recently bought and sold shares of the business. Xact Kapitalforvaltning AB bought a new position in Lancaster Colony in the fourth quarter worth $229,000. Schwab Charles Investment Management Inc. raised its holdings in Lancaster Colony by 32.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 212,427 shares of the company’s stock worth $26,159,000 after purchasing an additional 51,842 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Lancaster Colony by 3.5% in the first quarter. Wells Fargo & Company MN now owns 84,583 shares of the company’s stock worth $10,415,000 after purchasing an additional 2,863 shares in the last quarter. BlackRock Inc. raised its holdings in Lancaster Colony by 1.7% in the first quarter. BlackRock Inc. now owns 2,048,511 shares of the company’s stock worth $252,255,000 after purchasing an additional 34,823 shares in the last quarter. Finally, Stevens Capital Management LP bought a new position in Lancaster Colony in the first quarter worth $400,000. Institutional investors and hedge funds own 52.78% of the company’s stock.
Lancaster Colony Company Profile
Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. It offers salad dressings and sauces under the Marzetti, Marzetti Simply Dressed, Cardini's, and Girard's brands; vegetable dips and fruit dips under the Marzetti brand; frozen garlic breads under the New York BRAND Bakery, Mamma Bella, and Mamma Bella's brands; and frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's and Mary B's brands.
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