Brokerages Set Lancaster Colony Co. (NASDAQ:LANC) PT at $198.75

Lancaster Colony Co. (NASDAQ:LANCGet Free Report) has been assigned a consensus recommendation of “Hold” from the four ratings firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $198.75.

LANC has been the topic of several research reports. StockNews.com upgraded shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Stephens reiterated an “equal weight” rating and set a $218.00 price objective on shares of Lancaster Colony in a research note on Friday, May 3rd.

View Our Latest Analysis on Lancaster Colony

Lancaster Colony Stock Performance

LANC stock opened at $187.89 on Friday. The company’s 50-day simple moving average is $192.28 and its 200 day simple moving average is $185.82. Lancaster Colony has a 52 week low of $158.88 and a 52 week high of $215.31. The company has a market capitalization of $5.17 billion, a PE ratio of 38.98 and a beta of 0.37.

Lancaster Colony (NASDAQ:LANCGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $1.44 EPS 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 for the quarter, compared to the consensus estimate of $467.90 million. During the same period in the prior year, the company posted $0.89 earnings per share. Lancaster Colony’s revenue was up 1.4% compared to the same quarter last year. On average, analysts forecast that Lancaster Colony will post 6.45 EPS for the current year.

Lancaster Colony Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, June 7th. This represents a $3.60 dividend on an annualized basis and a yield of 1.92%. Lancaster Colony’s payout ratio is 74.69%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Lancaster Colony by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,186,162 shares of the company’s stock worth $453,913,000 after acquiring an additional 85,658 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Lancaster Colony by 12.5% in the third quarter. William Blair Investment Management LLC now owns 1,307,612 shares of the company’s stock worth $215,795,000 after acquiring an additional 145,560 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Lancaster Colony by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 504,381 shares of the company’s stock worth $83,924,000 after acquiring an additional 11,455 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Lancaster Colony by 26.5% in the fourth 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 last quarter. Finally, Boston Trust Walden Corp lifted its holdings in shares of Lancaster Colony by 54.5% in the fourth quarter. Boston Trust Walden Corp now owns 319,366 shares of the company’s stock worth $53,139,000 after acquiring an additional 112,696 shares during the last quarter. Institutional investors own 66.44% of the company’s stock.

About Lancaster Colony

(Get Free Report

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.

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