Zacks Investment Research upgraded shares of Lancaster Colony (NASDAQ:LANC) from a sell rating to a hold rating in a report published on Wednesday, January 10th.
According to Zacks, “Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice markets. Lancaster Colony’s wholly-owned subsidiaries, including T. Marzetti Company, produce and market high quality national and regionally-branded food products throughout the United States for the retail and foodservice markets. Most of their products sold through the retail channel are marketed under the company’s popular brand names, such as Marzetti, New York Brand Bakery, Sister Schubert’s and Flatout. The company’s production plants across the United States make an expanded family of quality food products found every day on the dinner tables of millions of consumers, as well as in well-known restaurant chains nationwide. “
Separately, BidaskClub raised shares of Lancaster Colony from a sell rating to a hold rating in a research note on Saturday, December 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $153.00.
Shares of Lancaster Colony (LANC) opened at $120.49 on Wednesday. Lancaster Colony has a fifty-two week low of $113.33 and a fifty-two week high of $136.37. The firm has a market cap of $3,310.00, a PE ratio of 28.02 and a beta of 1.01.
Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Thursday, January 25th. The company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.18). Lancaster Colony had a return on equity of 19.65% and a net margin of 9.84%. The firm had revenue of $319.70 million for the quarter, compared to analysts’ expectations of $335.10 million. During the same period in the prior year, the firm posted $1.42 earnings per share. Lancaster Colony’s revenue for the quarter was down 2.2% on a year-over-year basis. equities analysts forecast that Lancaster Colony will post 4.62 EPS for the current year.
Several large investors have recently bought and sold shares of the company. Capital Fund Management S.A. raised its stake in shares of Lancaster Colony by 133.0% during the 2nd quarter. Capital Fund Management S.A. now owns 12,788 shares of the company’s stock worth $1,568,000 after acquiring an additional 7,300 shares in the last quarter. Laurion Capital Management LP bought a new position in shares of Lancaster Colony during the 2nd quarter worth approximately $797,000. Martingale Asset Management L P raised its stake in shares of Lancaster Colony by 6.7% during the 2nd quarter. Martingale Asset Management L P now owns 44,404 shares of the company’s stock worth $5,445,000 after acquiring an additional 2,801 shares in the last quarter. Northern Trust Corp raised its stake in shares of Lancaster Colony by 1.5% during the 2nd quarter. Northern Trust Corp now owns 341,496 shares of the company’s stock worth $41,874,000 after acquiring an additional 5,131 shares in the last quarter. Finally, BlueCrest Capital Management Ltd bought a new position in shares of Lancaster Colony during the 2nd quarter worth approximately $2,559,000. Institutional investors and hedge funds own 51.31% of the company’s stock.
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Lancaster Colony Company Profile
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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