Lancaster Colony (NASDAQ:LANC) Issues Quarterly Earnings Results

Lancaster Colony (NASDAQ:LANC) issued its quarterly earnings results on Thursday. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.02, Briefing.com reports. Lancaster Colony had a return on equity of 18.96% and a net margin of 7.10%. The firm had revenue of $471.40 million for the quarter, compared to analyst estimates of $467.90 million. During the same period in the previous year, the firm earned $0.89 earnings per share. The company’s revenue was up 1.4% compared to the same quarter last year.

Lancaster Colony Stock Down 0.3 %

LANC stock traded down $0.50 during mid-day trading on Friday, reaching $191.50. 149,123 shares of the company traded hands, compared to its average volume of 135,980. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 39.73 and a beta of 0.39. Lancaster Colony has a fifty-two week low of $158.88 and a fifty-two week high of $220.65. The firm’s 50 day moving average price is $199.06 and its 200 day moving average price is $182.34.

Lancaster Colony Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 7th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $3.60 dividend on an annualized basis and a yield of 1.88%. Lancaster Colony’s dividend payout ratio (DPR) is currently 74.69%.

Insiders Place Their Bets

In other news, insider Kristin Bird sold 1,207 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $192.66, for a total value of $232,540.62. Following the completion of the sale, the insider now owns 3,546 shares in the company, valued at $683,172.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 29.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on LANC shares. StockNews.com upgraded Lancaster Colony from a “hold” rating to a “buy” rating in a report on Friday. Stephens reissued an “equal weight” rating and issued a $218.00 price target on shares of Lancaster Colony in a research report on Friday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $198.75.

About Lancaster Colony

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.