Lancaster Colony Co. (NASDAQ:LANC) Receives Consensus Rating of “Hold” from Brokerages

Lancaster Colony Co. (NASDAQ:LANCGet Rating) has received an average recommendation of “Hold” from the seven brokerages that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $172.50.

LANC has been the topic of several analyst reports. Cowen started coverage on shares of Lancaster Colony in a research note on Monday. They issued a “market perform” rating on the stock. Benchmark downgraded shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. TheStreet downgraded shares of Lancaster Colony from a “b-” rating to a “c” rating in a research report on Tuesday, May 17th. Cowen started coverage on shares of Lancaster Colony in a research report on Monday. They set a “market perform” rating and a $140.00 price objective on the stock. Finally, StockNews.com upgraded shares of Lancaster Colony from a “sell” rating to a “hold” rating in a research report on Thursday.

Shares of NASDAQ LANC opened at $121.72 on Monday. The firm’s 50 day moving average price is $148.95 and its 200-day moving average price is $156.42. The company has a market cap of $3.35 billion, a PE ratio of 36.44 and a beta of 0.16. Lancaster Colony has a 52-week low of $118.99 and a 52-week high of $201.31.

Lancaster Colony (NASDAQ:LANCGet Rating) last issued its earnings results on Thursday, May 5th. The company reported $0.46 earnings per share (EPS) for the quarter. The firm had revenue of $403.49 million for the quarter. Lancaster Colony had a net margin of 5.73% and a return on equity of 12.98%.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 9th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Wednesday, June 8th. Lancaster Colony’s dividend payout ratio is currently 95.81%.

In other Lancaster Colony news, CFO K. Pigott Thomas bought 800 shares of the company’s stock in a transaction dated Thursday, May 19th. The stock was acquired at an average price of $121.70 per share, with a total value of $97,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 5,817 shares of the company’s stock, valued at $707,928.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 29.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. California Public Employees Retirement System grew its position in shares of Lancaster Colony by 0.6% during the third quarter. California Public Employees Retirement System now owns 41,972 shares of the company’s stock worth $7,085,000 after acquiring an additional 245 shares during the last quarter. Covestor Ltd purchased a new position in Lancaster Colony in the 4th quarter valued at $54,000. Legacy Wealth Asset Management LLC lifted its holdings in Lancaster Colony by 4.3% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,450 shares of the company’s stock valued at $571,000 after acquiring an additional 141 shares during the period. Yousif Capital Management LLC acquired a new stake in Lancaster Colony in the fourth quarter valued at $1,705,000. Finally, Paragon Capital Management Ltd acquired a new stake in Lancaster Colony in the fourth quarter valued at $99,000. 57.30% of the stock is currently 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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