Lancaster Colony (NASDAQ:LANC) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Other equities analysts have also recently issued research reports about the stock. BidaskClub cut shares of Lancaster Colony from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. CL King cut shares of Lancaster Colony from a “buy” rating to a “neutral” rating in a research note on Friday, August 10th. They noted that the move was a valuation call. Finally, Vertical Group cut shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $150.00.
Shares of NASDAQ LANC opened at $154.25 on Friday. The stock has a market cap of $4.14 billion, a PE ratio of 34.33 and a beta of 0.87. Lancaster Colony has a 52-week low of $115.81 and a 52-week high of $161.68.
Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings results on Thursday, August 23rd. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.09. The firm had revenue of $308.17 million for the quarter, compared to the consensus estimate of $294.30 million. Lancaster Colony had a net margin of 11.06% and a return on equity of 19.36%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 EPS.
In other news, VP Douglas A. Fell sold 500 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $154.90, for a total value of $77,450.00. Following the transaction, the vice president now owns 12,215 shares in the company, valued at approximately $1,892,103.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 31.80% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of LANC. Metropolitan Life Insurance Co. NY raised its stake in Lancaster Colony by 4.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 11,180 shares of the company’s stock worth $1,548,000 after acquiring an additional 472 shares during the period. Xact Kapitalforvaltning AB raised its stake in Lancaster Colony by 28.2% during the 1st quarter. Xact Kapitalforvaltning AB now owns 2,272 shares of the company’s stock worth $280,000 after acquiring an additional 500 shares during the period. MetLife Investment Advisors LLC raised its stake in Lancaster Colony by 2.7% during the 2nd quarter. MetLife Investment Advisors LLC now owns 20,901 shares of the company’s stock worth $2,893,000 after acquiring an additional 543 shares during the period. Mutual of America Capital Management LLC raised its stake in Lancaster Colony by 4.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 16,761 shares of the company’s stock worth $2,320,000 after acquiring an additional 670 shares during the period. Finally, UBS Group AG raised its stake in Lancaster Colony by 6.1% during the 1st quarter. UBS Group AG now owns 12,825 shares of the company’s stock worth $1,580,000 after acquiring an additional 740 shares during the period. Hedge funds and other institutional investors own 53.56% of the company’s stock.
Lancaster Colony Company Profile
Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates through two segments, Retail and Foodservice. It offers frozen garlic breads under the New York BRAND Bakery brand; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand name; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardini's, and Girard's brands; and vegetable dips and fruit dips under the Marzetti brand.
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