Brokerages Set Lancaster Colony Co. (NASDAQ:LANC) PT at $194.25

Shares of Lancaster Colony Co. (NASDAQ:LANC) have been given an average recommendation of “Hold” by the four research firms that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $195.75.

A number of equities research analysts have issued reports on the company. Stephens cut their price target on Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. StockNews.com cut Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Finally, Loop Capital lowered their price target on Lancaster Colony from $236.00 to $232.00 and set a “buy” rating on the stock in a report on Monday.

Lancaster Colony Price Performance

Shares of NASDAQ LANC opened at $169.94 on Friday. The stock has a market cap of $4.68 billion, a PE ratio of 35.26 and a beta of 0.37. Lancaster Colony has a 1 year low of $158.88 and a 1 year high of $215.31. The firm has a fifty day moving average price of $187.32 and a 200-day moving average price of $192.12.

Lancaster Colony Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Monday, September 9th. Lancaster Colony’s dividend payout ratio (DPR) is presently 74.69%.

Insider Activity

In other news, Director Elliot K. Fullen bought 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the completion of the transaction, the director now owns 5,298 shares of the company’s stock, valued at $895,362. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 29.60% of the company’s stock.

Institutional Trading of Lancaster Colony

A number of large investors have recently added to or reduced their stakes in the company. Consolidated Planning Corp boosted its position in shares of Lancaster Colony by 4.5% during the 2nd quarter. Consolidated Planning Corp now owns 1,232 shares of the company’s stock valued at $233,000 after acquiring an additional 53 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Lancaster Colony by 1.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,127 shares of the company’s stock valued at $687,000 after purchasing an additional 55 shares in the last quarter. UMB Bank n.a. lifted its position in Lancaster Colony by 6.5% during the first quarter. UMB Bank n.a. now owns 952 shares of the company’s stock valued at $198,000 after purchasing an additional 58 shares during the last quarter. Retirement Systems of Alabama grew its stake in shares of Lancaster Colony by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 25,570 shares of the company’s stock worth $5,309,000 after buying an additional 67 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Lancaster Colony by 0.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 15,179 shares of the company’s stock worth $2,868,000 after buying an additional 87 shares during the last quarter. Institutional investors own 66.44% of the company’s stock.

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.