Lancaster Colony Co. (NASDAQ:LANC) Receives $195.75 Average PT from Brokerages

Lancaster Colony Co. (NASDAQ:LANC) has received an average recommendation of “Hold” from the five ratings firms that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $195.75.

A number of equities analysts have weighed in on the stock. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research report on Wednesday, September 18th. Stephens cut their price objective on shares of Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd. StockNews.com lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Loop Capital dropped their target price on Lancaster Colony from $236.00 to $232.00 and set a “buy” rating on the stock in a research report on Monday, August 26th.

Lancaster Colony Trading Down 1.0 %

Shares of NASDAQ LANC opened at $179.99 on Tuesday. The stock has a fifty day simple moving average of $183.78 and a two-hundred day simple moving average of $189.44. Lancaster Colony has a 1-year low of $160.01 and a 1-year high of $215.31. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 37.34 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.41 by ($0.06). Lancaster Colony had a return on equity of 19.61% and a net margin of 8.47%. The firm had revenue of $452.83 million for the quarter, compared to the consensus estimate of $462.70 million. Analysts forecast that Lancaster Colony will post 6.96 EPS for the current year.

Lancaster Colony Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Monday, September 9th. Lancaster Colony’s dividend payout ratio (DPR) is presently 74.69%.

Insider Buying and Selling at Lancaster Colony

In other news, Director Elliot K. Fullen purchased 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average price of $169.00 per share, with a total value of $507,000.00. Following the completion of the acquisition, the director now owns 5,298 shares in the company, valued at approximately $895,362. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 29.60% of the company’s stock.

Institutional Trading of Lancaster Colony

A number of large investors have recently modified their holdings of LANC. Blair William & Co. IL raised its stake in Lancaster Colony by 2,386.6% in the second quarter. Blair William & Co. IL now owns 172,075 shares of the company’s stock valued at $32,517,000 after purchasing an additional 165,155 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Lancaster Colony by 4.1% during the 1st 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. F M Investments LLC purchased a new position in Lancaster Colony in the second quarter worth $7,997,000. Millennium Management LLC increased its stake in Lancaster Colony by 1,055.2% in the second quarter. Millennium Management LLC now owns 36,090 shares of the company’s stock valued at $6,820,000 after acquiring an additional 32,966 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Lancaster Colony by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 520,335 shares of the company’s stock valued at $98,326,000 after purchasing an additional 25,072 shares during the last quarter. Institutional investors own 66.44% of the company’s stock.

About Lancaster Colony

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.