Lancaster Colony (LANC) – Research Analysts’ Recent Ratings Changes

Lancaster Colony (NASDAQ: LANC) recently received a number of ratings updates from brokerages and research firms:

  • 5/23/2022 – Lancaster Colony is now covered by analysts at Cowen Inc.. They set a “market perform” rating and a $140.00 price target on the stock.
  • 5/23/2022 – Lancaster Colony is now covered by analysts at Cowen Inc. They set a “market perform” rating and a $140.00 price target on the stock.
  • 5/19/2022 – Lancaster Colony was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
  • 5/17/2022 – Lancaster Colony was downgraded by analysts at TheStreet from a “b-” rating to a “c” rating.
  • 5/11/2022 – Lancaster Colony was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
  • 5/6/2022 – Lancaster Colony was downgraded by analysts at Benchmark Co. from a “buy” rating to a “hold” rating.
  • 3/31/2022 – Lancaster Colony is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.

Shares of NASDAQ LANC traded up $1.24 during trading on Tuesday, hitting $124.69. The stock had a trading volume of 1,607 shares, compared to its average volume of 112,132. Lancaster Colony Co. has a 12 month low of $118.99 and a 12 month high of $201.31. The company has a market capitalization of $3.43 billion, a PE ratio of 37.33 and a beta of 0.16. The firm has a fifty day moving average of $148.29 and a two-hundred day moving average of $156.16.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 9th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, June 8th. This represents a $3.20 annualized dividend and a yield of 2.57%. Lancaster Colony’s payout ratio is currently 95.81%.

In other Lancaster Colony news, CFO K. Pigott Thomas acquired 800 shares of the company’s stock in a transaction on Thursday, May 19th. The shares were acquired at an average cost 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 in the company, valued at $707,928.90. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 29.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Profund Advisors LLC lifted its holdings in shares of Lancaster Colony by 4.8% in the fourth quarter. Profund Advisors LLC now owns 1,698 shares of the company’s stock worth $281,000 after buying an additional 77 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Lancaster Colony by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 16,202 shares of the company’s stock worth $2,683,000 after buying an additional 78 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Lancaster Colony by 3.6% in the fourth quarter. Benjamin Edwards Inc. now owns 2,266 shares of the company’s stock worth $375,000 after buying an additional 79 shares in the last quarter. ICW Investment Advisors LLC lifted its holdings in shares of Lancaster Colony by 3.1% in the first quarter. ICW Investment Advisors LLC now owns 3,067 shares of the company’s stock worth $457,000 after buying an additional 93 shares in the last quarter. Finally, People s United Financial Inc. lifted its holdings in shares of Lancaster Colony by 2.4% in the third quarter. People s United Financial Inc. now owns 4,188 shares of the company’s stock worth $707,000 after buying an additional 100 shares in the last quarter. 57.30% of the stock is currently owned by institutional investors and hedge funds.

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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