Lancaster Colony Co. (NASDAQ:LANC – Get Rating) insider David S. Nagle sold 1,369 shares of Lancaster Colony stock in a transaction that occurred on 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 transaction, the insider now owns 7,614 shares of the company's stock, valued at approximately $1,286,918.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Lancaster Colony Trading Down 0.1 %
Shares of Lancaster Colony stock traded down $0.13 during trading on Friday, reaching $168.01. The company's stock had a trading volume of 284,672 shares, compared to its average volume of 128,168. The company has a 50-day moving average price of $148.31 and a two-hundred day moving average price of $143.50. The firm has a market cap of $4.62 billion, a PE ratio of 51.70 and a beta of 0.04. Lancaster Colony Co. has a fifty-two week low of $116.85 and a fifty-two week high of $177.07.
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Lancaster Colony (NASDAQ:LANC – Get Rating) last announced its quarterly earnings data on Thursday, August 25th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.86. The company had revenue of $452.40 million for the quarter, compared to analysts' expectations of $415.53 million. Lancaster Colony had a net margin of 5.34% and a return on equity of 13.64%. Lancaster Colony's revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.15 EPS. On average, analysts predict that Lancaster Colony Co. will post 5.85 earnings per share for the current fiscal year.
Lancaster Colony Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $3.20 annualized dividend and a yield of 1.90%. Lancaster Colony's dividend payout ratio is currently 98.46%.
Wall Street Analyst Weigh In
LANC has been the topic of a number of research analyst reports. StockNews.com raised shares of Lancaster Colony from a "sell" rating to a "hold" rating in a report on Friday, August 26th. CL King initiated coverage on shares of Lancaster Colony in a report on Tuesday, June 14th. They set a "neutral" rating on the stock. Cowen initiated coverage on shares of Lancaster Colony in a report on Monday, May 23rd. They set a "market perform" rating and a $140.00 price objective on the stock. TheStreet raised shares of Lancaster Colony from a "c" rating to a "b" rating in a report on Monday, August 29th. Finally, Cowen initiated coverage on shares of Lancaster Colony in a report on Monday, May 23rd. They issued a "market perform" rating and a $140.00 target price on the stock. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $153.67.
Hedge Funds Weigh In On Lancaster Colony
Several institutional investors have recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Lancaster Colony during the 1st quarter worth $34,000. Artemis Wealth Advisors LLC purchased a new stake in shares of Lancaster Colony during the 1st quarter worth $37,000. Pinebridge Investments L.P. purchased a new stake in shares of Lancaster Colony during the 4th quarter worth $50,000. Nisa Investment Advisors LLC boosted its position in shares of Lancaster Colony by 206.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 306 shares of the company's stock worth $46,000 after purchasing an additional 206 shares in the last quarter. Finally, Covestor Ltd purchased a new stake in shares of Lancaster Colony during the 4th quarter worth $54,000. 61.28% of the stock is owned by institutional investors and hedge funds.
Lancaster Colony Company Profile
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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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