Shares of Lancaster Colony Co. (NASDAQ:LANC – Get Rating) have earned an average recommendation of "Hold" from the six brokerages that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $140.00.
LANC has been the subject of a number of research analyst reports. CL King initiated coverage on shares of Lancaster Colony in a research note on Tuesday, June 14th. They issued a "neutral" rating for the company. TheStreet upgraded shares of Lancaster Colony from a "c" rating to a "b" rating in a research note on Monday, August 29th. Finally, StockNews.com upgraded shares of Lancaster Colony from a "sell" rating to a "hold" rating in a research note on Friday, August 26th.
Get Lancaster Colony alerts:Insider Activity at Lancaster Colony
In related news, insider David S. Nagle sold 720 shares of the business's stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $172.51, for a total transaction of $124,207.20. Following the completion of the sale, the insider now directly owns 5,842 shares in the company, valued at $1,007,803.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider David S. Nagle sold 720 shares of the business's stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $172.51, for a total transaction of $124,207.20. Following the completion of the sale, the insider now directly owns 5,842 shares in the company, valued at $1,007,803.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David S. Nagle sold 1,369 shares of Lancaster Colony stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $169.02, for a total transaction of $231,388.38. Following the transaction, 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. 29.90% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Lancaster Colony
Large investors have recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Lancaster Colony in the first quarter worth $34,000. Artemis Wealth Advisors LLC purchased a new position in shares of Lancaster Colony in the first quarter worth $37,000. Nisa Investment Advisors LLC increased its position in Lancaster Colony by 206.0% in the first quarter. Nisa Investment Advisors LLC now owns 306 shares of the company's stock worth $46,000 after purchasing an additional 206 shares during the last quarter. New Century Advisors LLC increased its position in Lancaster Colony by 37.6% in the second quarter. New Century Advisors LLC now owns 362 shares of the company's stock worth $47,000 after purchasing an additional 99 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in Lancaster Colony by 563.9% in the second quarter. Quadrant Capital Group LLC now owns 478 shares of the company's stock worth $62,000 after purchasing an additional 406 shares during the last quarter. Hedge funds and other institutional investors own 61.28% of the company's stock.Lancaster Colony Stock Performance
NASDAQ:LANC opened at $159.33 on Friday. The firm has a market cap of $4.38 billion, a P/E ratio of 49.02 and a beta of 0.04. Lancaster Colony has a fifty-two week low of $116.85 and a fifty-two week high of $177.07. The firm has a 50-day simple moving average of $151.94 and a two-hundred day simple moving average of $143.51.
Lancaster Colony (NASDAQ:LANC – Get Rating) last released its quarterly earnings data on Thursday, August 25th. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.86. The business had revenue of $452.40 million during the quarter, compared to analyst estimates 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 last year, the business earned $1.15 EPS. On average, equities research analysts predict that Lancaster Colony will post 5.85 EPS for the current year.
Lancaster Colony Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $3.20 annualized dividend and a yield of 2.01%. Lancaster Colony's dividend payout ratio (DPR) is 98.46%.
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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