Lancaster Colony Corporation (LANC) Given Consensus Rating of “Hold” by Brokerages
Shares of Lancaster Colony Corporation (NASDAQ:LANC) have received an average recommendation of “Hold” from the seven research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $152.00.
Several brokerages have recently issued reports on LANC. BidaskClub upgraded Lancaster Colony Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. Vertical Research upgraded Lancaster Colony Corporation from a “hold” rating to a “buy” rating in a research note on Friday, May 26th. Zacks Investment Research upgraded Lancaster Colony Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Vertical Group upgraded Lancaster Colony Corporation from a “hold” rating to a “buy” rating and lifted their price target for the company from $123.00 to $146.00 in a research note on Tuesday, May 30th. Finally, Wedbush reiterated a “buy” rating on shares of Lancaster Colony Corporation in a research note on Friday, August 18th.
Shares of Lancaster Colony Corporation (NASDAQ:LANC) traded down 0.16% during mid-day trading on Tuesday, hitting $117.06. The stock had a trading volume of 98,155 shares. The stock has a 50 day moving average price of $120.73 and a 200 day moving average price of $125.18. The firm has a market cap of $3.21 billion, a PE ratio of 27.87 and a beta of 1.02. Lancaster Colony Corporation has a 52 week low of $113.33 and a 52 week high of $149.30.
Lancaster Colony Corporation (NASDAQ:LANC) last issued its quarterly earnings results on Thursday, August 17th. The company reported $1.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by $0.08. Lancaster Colony Corporation had a net margin of 9.59% and a return on equity of 22.76%. The business had revenue of $289.90 million during the quarter, compared to the consensus estimate of $295.05 million. During the same quarter in the previous year, the business posted $1.12 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts expect that Lancaster Colony Corporation will post $4.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.20 dividend on an annualized basis and a yield of 1.88%. Lancaster Colony Corporation’s dividend payout ratio is currently 52.26%.
A number of hedge funds have recently modified their holdings of LANC. Advisory Services Network LLC bought a new stake in Lancaster Colony Corporation during the 1st quarter worth $129,000. Harfst & Associates Inc. bought a new stake in Lancaster Colony Corporation during the 1st quarter worth $174,000. LS Investment Advisors LLC grew its position in Lancaster Colony Corporation by 19.8% during the 2nd quarter. LS Investment Advisors LLC now owns 1,557 shares of the company’s stock worth $191,000 after acquiring an additional 257 shares during the last quarter. Credit Agricole S A grew its position in Lancaster Colony Corporation by 4.5% during the 1st quarter. Credit Agricole S A now owns 1,522 shares of the company’s stock worth $196,000 after acquiring an additional 66 shares during the last quarter. Finally, Cypress Wealth Advisors LLC grew its position in Lancaster Colony Corporation by 3.4% during the 1st quarter. Cypress Wealth Advisors LLC now owns 1,622 shares of the company’s stock worth $209,000 after acquiring an additional 54 shares during the last quarter. Institutional investors and hedge funds own 49.80% of the company’s stock.
About Lancaster Colony Corporation
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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