Lancaster Colony Co. (NASDAQ:LANC) Given Consensus Rating of “Hold” by Brokerages

Lancaster Colony Co. (NASDAQ:LANC) has earned a consensus rating of “Hold” from the four analysts that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $198.75.

A number of equities research analysts have recently issued reports on LANC shares. StockNews.com raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a report on Friday. Stephens restated an “equal weight” rating and issued a $218.00 price objective on shares of Lancaster Colony in a research note on Friday.

Lancaster Colony Stock Performance

Shares of NASDAQ LANC opened at $191.50 on Monday. The stock has a market capitalization of $5.27 billion, a PE ratio of 39.73 and a beta of 0.39. Lancaster Colony has a 52 week low of $158.88 and a 52 week high of $220.65. The stock has a 50 day moving average price of $199.06 and a 200 day moving average price of $182.39.

Lancaster Colony (NASDAQ:LANC) last released its earnings results on Thursday, May 2nd. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.02. Lancaster Colony had a net margin of 7.10% and a return on equity of 18.96%. The business had revenue of $471.40 million during the quarter, compared to analysts’ expectations of $467.90 million. During the same period last year, the business earned $0.89 earnings per share. The firm’s revenue was up 1.4% on a year-over-year basis. As a group, research analysts forecast that Lancaster Colony will post 6.53 EPS for the current year.

Lancaster Colony Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 7th were given a dividend of $0.90 per share. The ex-dividend date was Wednesday, March 6th. This represents a $3.60 annualized dividend and a yield of 1.88%. Lancaster Colony’s dividend payout ratio (DPR) is presently 74.69%.

Insider Transactions at Lancaster Colony

In related news, insider Kristin Bird sold 1,207 shares of Lancaster Colony stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $192.66, for a total transaction of $232,540.62. Following the completion of the sale, the insider now directly owns 3,546 shares of the company’s stock, valued at approximately $683,172.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 29.60% of the company’s stock.

Hedge Funds Weigh In On Lancaster Colony

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Lancaster Colony by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,100,504 shares of the company’s stock valued at $349,503,000 after buying an additional 19,427 shares in the last quarter. William Blair Investment Management LLC increased its holdings in Lancaster Colony by 12.5% in the 3rd quarter. William Blair Investment Management LLC now owns 1,307,612 shares of the company’s stock valued at $215,795,000 after buying an additional 145,560 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in Lancaster Colony by 10.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 596,321 shares of the company’s stock valued at $98,411,000 after buying an additional 56,787 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Lancaster Colony by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 504,381 shares of the company’s stock valued at $83,924,000 after buying an additional 11,455 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Lancaster Colony by 26.5% during the 4th quarter. Victory Capital Management Inc. now owns 415,629 shares of the company’s stock worth $69,157,000 after acquiring an additional 86,994 shares during the period. 66.44% of the stock is owned by institutional investors.

Lancaster Colony Company Profile

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company 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, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.