Lancaster Colony Corp. (NASDAQ:LANC) declared a quarterly dividend on Wednesday, November 13th, Zacks reports. Stockholders of record on Friday, December 6th will be paid a dividend of 0.70 per share on Tuesday, December 31st. This represents a $2.80 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, December 5th. This is a positive change from Lancaster Colony’s previous quarterly dividend of $0.65.
Shares of Lancaster Colony stock traded down $0.28 during trading on Tuesday, hitting $157.22. 380 shares of the stock were exchanged, compared to its average volume of 109,880. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.70. Lancaster Colony has a 12 month low of $133.77 and a 12 month high of $194.38. The stock’s fifty day moving average is $149.20 and its 200 day moving average is $147.93. The stock has a market cap of $4.34 billion, a PE ratio of 30.10 and a beta of 0.31.
Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.34. The firm had revenue of $337.10 million for the quarter, compared to the consensus estimate of $333.31 million. Lancaster Colony had a net margin of 11.46% and a return on equity of 19.98%. Lancaster Colony’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $1.42 EPS.
In other news, Director Neeli Bendapudi sold 1,600 shares of the stock in a transaction on Saturday, September 7th. The stock was sold at an average price of $157.37, for a total value of $251,792.00. Following the completion of the transaction, the director now owns 7,800 shares of the company’s stock, valued at $1,227,486. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 31.70% of the company’s stock.
LANC has been the topic of several analyst reports. ValuEngine lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Sidoti set a $154.00 price target on Lancaster Colony and gave the company a “hold” rating in a report on Wednesday, September 18th. BidaskClub downgraded Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, DA Davidson began coverage on Lancaster Colony in a report on Thursday, November 21st. They issued a “neutral” rating and a $160.00 price objective for the company.
About Lancaster Colony
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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