Shares of Lancaster Colony Co. (NASDAQ:LANC – Get Rating) have earned a consensus recommendation of "Hold" from the six ratings firms that are covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $140.00.

LANC has been the subject of several recent research reports. StockNews.com raised shares of Lancaster Colony from a "sell" rating to a "hold" rating in a research report on Friday, August 26th. TheStreet upgraded shares of Lancaster Colony from a "c" rating to a "b" rating in a research note on Monday, August 29th. Finally, CL King started coverage on shares of Lancaster Colony in a research report on Tuesday, June 14th. They issued a "neutral" rating on the stock.

Lancaster Colony Stock Down 1.2 %

Lancaster Colony stock opened at $150.28 on Friday. Lancaster Colony has a 52-week low of $116.85 and a 52-week high of $177.07. The firm has a fifty day moving average of $154.44 and a 200-day moving average of $143.60. The firm has a market capitalization of $4.14 billion, a P/E ratio of 46.24 and a beta of 0.04.

Lancaster Colony Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were given a $0.80 dividend. The ex-dividend date was Thursday, September 8th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.13%. Lancaster Colony's payout ratio is currently 98.46%.

Insider Buying and Selling

In related news, insider David S. Nagle sold 1,369 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $169.02, for a total value of $231,388.38. Following the sale, the insider now owns 7,614 shares of the company's stock, valued at approximately $1,286,918.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider David S. Nagle sold 720 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $172.51, for a total value of $124,207.20. Following the sale, the insider now owns 5,842 shares of the company's stock, valued at approximately $1,007,803.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David S. Nagle sold 1,369 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $169.02, for a total transaction of $231,388.38. Following the completion of the sale, the insider now directly owns 7,614 shares in the company, valued at approximately $1,286,918.28. The disclosure for this sale can be found here. Corporate insiders own 29.90% of the company's stock.

Hedge Funds Weigh In On Lancaster Colony

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Lancaster Colony by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 2,058,056 shares of the company's stock valued at $306,959,000 after buying an additional 19,495 shares during the period. State Street Corp boosted its holdings in shares of Lancaster Colony by 11.1% in the second quarter. State Street Corp now owns 2,033,809 shares of the company's stock worth $261,914,000 after buying an additional 203,259 shares during the period. Silvercrest Asset Management Group LLC boosted its holdings in shares of Lancaster Colony by 2.0% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 556,084 shares of the company's stock worth $91,604,000 after buying an additional 11,098 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in shares of Lancaster Colony by 302.2% in the first quarter. Diamond Hill Capital Management Inc. now owns 442,367 shares of the company's stock worth $65,979,000 after buying an additional 332,374 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Lancaster Colony by 3.6% in the first quarter. First Trust Advisors LP now owns 428,203 shares of the company's stock worth $63,866,000 after buying an additional 14,891 shares during the period. Institutional investors and hedge funds own 61.28% of the company's stock.

Lancaster Colony Company Profile

(Get Rating)

Lancaster Colony Corporation manufactures and markets food products for the retail and foodservice markets in the United States. The company operates in two segments, Retail and Foodservice. It 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, Cardini's, and Girard's; flatbread wraps and pizza crusts under the Flatout brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti; frozen pasta under the Marzetti Frozen Pasta brand; and vegetable and fruit dips under the Marzetti brand.

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