In a report released today, Robert Dickerson from Jefferies maintained a Hold rating on Lancaster Colony (LANC – Research Report), with a price target of $166.00.
Robert Dickerson’s Hold rating on Lancaster Colony Corp. is influenced by several factors. Firstly, he acknowledges Lancaster Colony’s unique position in the U.S. food market, due to its distinctive retail sauces/dressings licensing program, high quick service restaurant (QSR) exposure, and self-funding model. This model allows the company to register above-average organic growth without incurring debt.
However, Dickerson also points out certain challenges that the company is currently facing. These include rising supply chain costs, high exposure to private labels, the need for brand reinvestment, and a deceleration in restaurant traffic. These factors could potentially hinder the progression of the company’s margin recovery, thereby justifying the Hold rating.
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Lancaster Colony (LANC) Company Description:
Lancaster Colony Corp. engages in the manufacture and marketing of specialty food products. It operates through Retail and Foodservices segments. The Retail and Foodservices segments focuses in the manufacture and selling of frozen breads; refrigerated dressings and dips; and shelf-stable dressings and croutons under the brand name New York BRAND Bakery, Sister Schubert’s, Marzetti Frozen Pasta, and Flatout. The company was founded in 1961 and is headquartered in Westerville, OH.
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