David S. Nagle Sells 1,369 Shares of Lancaster Colony Co. (NASDAQ:LANC) Stock

Lancaster Colony Co. (NASDAQ:LANCGet Rating) insider David S. Nagle sold 1,369 shares of the company’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $169.02, for a total value of $231,388.38. Following the completion of the transaction, the insider now owns 7,614 shares of the company’s stock, valued at $1,286,918.28. The transaction was disclosed in a filing with the SEC, which is available at this link.

Lancaster Colony Price Performance

Shares of LANC stock opened at $168.01 on Friday. The stock has a market capitalization of $4.62 billion, a PE ratio of 51.70 and a beta of 0.04. Lancaster Colony Co. has a 1-year low of $116.85 and a 1-year high of $177.07. The business has a 50-day moving average of $148.31 and a 200 day moving average of $143.37.

Lancaster Colony (NASDAQ:LANCGet Rating) last released its quarterly earnings results on Thursday, August 25th. The company reported $1.66 EPS 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 return on equity of 13.64% and a net margin of 5.34%. Lancaster Colony’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.15 EPS. Analysts anticipate that Lancaster Colony Co. will post 5.85 EPS for the current year.

Lancaster Colony Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Thursday, September 8th. Lancaster Colony’s payout ratio is 98.46%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC bought a new position in Lancaster Colony during the 1st quarter valued at approximately $34,000. Artemis Wealth Advisors LLC bought a new position in shares of Lancaster Colony in the 1st quarter worth approximately $37,000. Nisa Investment Advisors LLC raised its position in shares of Lancaster Colony by 206.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 306 shares of the company’s stock worth $46,000 after acquiring an additional 206 shares in the last quarter. New Century Advisors LLC raised its position in shares of Lancaster Colony by 37.6% in the 2nd quarter. New Century Advisors LLC now owns 362 shares of the company’s stock worth $47,000 after acquiring an additional 99 shares in the last quarter. Finally, Pinebridge Investments L.P. bought a new position in shares of Lancaster Colony in the 4th quarter worth approximately $50,000. Institutional investors own 61.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. TheStreet upgraded Lancaster Colony from a “c” rating to a “b” rating in a report on Monday, August 29th. Cowen assumed coverage on Lancaster Colony in a report on Monday, May 23rd. They issued a “market perform” rating and a $140.00 price objective for the company. Cowen initiated coverage on Lancaster Colony in a report on Monday, May 23rd. They issued a “market perform” rating and a $140.00 price objective for the company. CL King initiated coverage on Lancaster Colony in a report on Tuesday, June 14th. They set a “neutral” rating for the company. Finally, StockNews.com upgraded Lancaster Colony from a “sell” rating to a “hold” rating in a report on Friday, August 26th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Lancaster Colony presently has an average rating of “Hold” and an average price target of $153.67.

Lancaster Colony Company Profile

(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.

Further Reading

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