BidaskClub upgraded shares of Lancaster Colony (NASDAQ:LANC) from a sell rating to a hold rating in a report issued on Saturday.
A number of other analysts also recently commented on LANC. Wedbush reissued a buy rating on shares of Lancaster Colony in a research note on Friday, August 18th. Zacks Investment Research raised Lancaster Colony from a sell rating to a hold rating in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $154.67.
Lancaster Colony (NASDAQ LANC) opened at $133.49 on Friday. Lancaster Colony has a 12-month low of $113.33 and a 12-month high of $149.30. The stock has a market capitalization of $3,678.13, a price-to-earnings ratio of 29.92 and a beta of 1.06.
Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings data on Thursday, October 26th. The company reported $1.07 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.04). Lancaster Colony had a return on equity of 21.50% and a net margin of 9.20%. The firm had revenue of $298.92 million during the quarter, compared to the consensus estimate of $298.75 million. During the same period in the prior year, the firm posted $1.22 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. research analysts expect that Lancaster Colony will post 4.62 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, December 7th. This is a positive change from Lancaster Colony’s previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.80%. Lancaster Colony’s payout ratio is 54.19%.
Several institutional investors have recently made changes to their positions in LANC. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Lancaster Colony during the third quarter valued at $151,000. Advisory Services Network LLC raised its position in Lancaster Colony by 31.8% during the second quarter. Advisory Services Network LLC now owns 1,325 shares of the company’s stock valued at $162,000 after buying an additional 320 shares during the period. LS Investment Advisors LLC raised its position in Lancaster Colony by 19.8% during the second quarter. LS Investment Advisors LLC now owns 1,557 shares of the company’s stock valued at $191,000 after buying an additional 257 shares during the period. Vident Investment Advisory LLC acquired a new position in Lancaster Colony during the third quarter valued at $210,000. Finally, Capstone Asset Management Co. raised its position in Lancaster Colony by 4.6% during the second quarter. Capstone Asset Management Co. now owns 1,832 shares of the company’s stock valued at $225,000 after buying an additional 80 shares during the period. 51.28% of the stock is currently owned by institutional investors.
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About Lancaster Colony
Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar.
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