Benchmark Reaffirms Hold Rating for Lancaster Colony (NASDAQ:LANC)

Lancaster Colony (NASDAQ:LANC)‘s stock had its “hold” rating reissued by equities research analysts at Benchmark in a research note issued to investors on Friday, Benzinga reports.

LANC has been the topic of several other reports. Loop Capital decreased their target price on shares of Lancaster Colony from $236.00 to $232.00 and set a “buy” rating on the stock in a report on Monday, August 26th. StockNews.com lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Stephens decreased their price target on shares of Lancaster Colony from $200.00 to $196.00 and set an “equal weight” rating on the stock in a report on Friday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $193.50.

Lancaster Colony Stock Up 4.0 %

Shares of Lancaster Colony stock opened at $180.47 on Friday. Lancaster Colony has a twelve month low of $161.54 and a twelve month high of $215.31. The company has a 50-day simple moving average of $177.14 and a two-hundred day simple moving average of $184.67. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 31.22 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.08). Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The business had revenue of $466.56 million during the quarter, compared to analyst estimates of $468.36 million. During the same quarter last year, the firm earned $1.70 EPS. Lancaster Colony’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Lancaster Colony will post 6.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lancaster Colony news, Director Elliot K. Fullen bought 3,000 shares of Lancaster Colony stock in a transaction on Tuesday, August 27th. The shares were purchased at an average cost of $169.00 per share, with a total value of $507,000.00. Following the acquisition, the director now directly owns 5,298 shares of the company’s stock, valued at $895,362. The trade was a 100.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 29.50% of the company’s stock.

Institutional Trading of Lancaster Colony

A number of institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of Lancaster Colony during the 3rd quarter valued at about $27,000. Opal Wealth Advisors LLC bought a new position in shares of Lancaster Colony during the 2nd quarter worth approximately $28,000. GAMMA Investing LLC boosted its holdings in shares of Lancaster Colony by 115.9% during the 2nd quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock worth $33,000 after buying an additional 95 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Lancaster Colony during the 2nd quarter worth approximately $38,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Lancaster Colony in the 2nd quarter valued at $74,000. 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.