Lancaster Colony (NASDAQ:LANC) Downgraded to “Hold” at Benchmark

Lancaster Colony (NASDAQ:LANC – Get Rating) was downgraded by equities researchers at Benchmark from a “buy” rating to a “hold” rating in a research report issued on Friday, The Fly reports.

Separately, StockNews.com assumed coverage on Lancaster Colony in a research report on Thursday, March 31st. They issued a “hold” rating for the company.

NASDAQ LANC opened at $139.46 on Friday. Lancaster Colony has a fifty-two week low of $135.82 and a fifty-two week high of $201.31. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 30.58 and a beta of 0.16. The business has a fifty day moving average of $155.29 and a 200-day moving average of $159.36.

Lancaster Colony (NASDAQ:LANC – Get Rating) last released its quarterly earnings results on Thursday, February 3rd. The company reported $1.25 earnings per share for the quarter. The company had revenue of $428.43 million during the quarter, compared to analysts’ expectations of $419.85 million. Lancaster Colony had a return on equity of 14.83% and a net margin of 8.04%. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.62 earnings per share.

Several large investors have recently made changes to their positions in the company. Mutual of America Capital Management LLC grew its position in shares of Lancaster Colony by 0.4% in the third quarter. Mutual of America Capital Management LLC now owns 17,480 shares of the company’s stock valued at $2,951,000 after purchasing an additional 71 shares during the period. Profund Advisors LLC grew its position in Lancaster Colony by 4.8% during the fourth quarter. Profund Advisors LLC now owns 1,698 shares of the company’s stock valued at $281,000 after acquiring an additional 77 shares during the period. MetLife Investment Management LLC grew its position in Lancaster Colony by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 16,202 shares of the company’s stock valued at $2,683,000 after acquiring an additional 78 shares during the period. Benjamin Edwards Inc. grew its position in Lancaster Colony by 3.6% during the fourth quarter. Benjamin Edwards Inc. now owns 2,266 shares of the company’s stock valued at $375,000 after acquiring an additional 79 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its position in Lancaster Colony by 1.6% during the third quarter. State Board of Administration of Florida Retirement System now owns 6,460 shares of the company’s stock valued at $1,091,000 after acquiring an additional 99 shares during the period. 57.30% of the stock is owned by institutional investors and hedge funds.

About Lancaster Colony (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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