Lancaster Colony Corp. (NASDAQ:LANC) declared a quarterly dividend on Wednesday, November 13th, Zacks reports. Shareholders of record on Friday, December 6th will be paid a dividend of 0.70 per share on Tuesday, December 31st. This represents a $2.80 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Thursday, December 5th. This is a positive change from Lancaster Colony’s previous quarterly dividend of $0.65.
Shares of NASDAQ LANC opened at $157.50 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.70. The business’s 50 day moving average price is $149.20 and its 200-day moving average price is $147.93. Lancaster Colony has a fifty-two week low of $133.77 and a fifty-two week high of $194.38. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 30.10 and a beta of 0.31.
Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.34. The company had revenue of $337.10 million during the quarter, compared to analysts’ expectations of $333.31 million. Lancaster Colony had a return on equity of 19.98% and a net margin of 11.46%. Lancaster Colony’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 EPS.
In other news, Director Neeli Bendapudi sold 1,600 shares of the firm’s stock in a transaction that occurred on Saturday, September 7th. The shares were sold at an average price of $157.37, for a total transaction of $251,792.00. Following the transaction, the director now directly owns 7,800 shares of the company’s stock, valued at $1,227,486. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 31.70% of the company’s stock.
Several analysts have recently weighed in on the company. Sidoti set a $154.00 target price on Lancaster Colony and gave the stock a “hold” rating in a research report on Wednesday, September 18th. DA Davidson assumed coverage on shares of Lancaster Colony in a report on Thursday, November 21st. They issued a “neutral” rating and a $160.00 price target on the stock. BidaskClub downgraded shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, ValuEngine lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a report on Monday, November 4th.
About Lancaster Colony
Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates through two segments, Retail and Foodservice. It offers frozen garlic breads under the New York BRAND Bakery brand; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand name; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardini's, and Girard's brands; and vegetable dips and fruit dips under the Marzetti brand.
See Also: Debt-To-Equity Ratio
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