Lancaster Colony (NASDAQ:LANC) Trading 3.1% Higher – Should You Buy?

Lancaster Colony Co. (NASDAQ:LANC)’s stock price rose 3.1% during trading on Friday . The stock traded as high as $179.51 and last traded at $180.46. Approximately 29,712 shares changed hands during trading, a decline of 78% from the average daily volume of 134,643 shares. The stock had previously closed at $175.07.

Analyst Upgrades and Downgrades

LANC has been the subject of several research reports. Stephens boosted their target price on Lancaster Colony from $196.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. StockNews.com upgraded Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, DA Davidson raised their target price on shares of Lancaster Colony from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lancaster Colony has an average rating of “Hold” and an average target price of $211.33.

Lancaster Colony Trading Up 2.7 %

The company has a 50 day simple moving average of $183.03 and a 200 day simple moving average of $181.23. The stock has a market capitalization of $4.96 billion, a PE ratio of 31.60 and a beta of 0.31.

Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $2.22 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.28. The firm had revenue of $509.30 million during the quarter, compared to the consensus estimate of $495.43 million. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the company earned $1.87 earnings per share. On average, equities research analysts predict that Lancaster Colony Co. will post 6.8 EPS for the current year.

Lancaster Colony Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were issued a dividend of $0.95 per share. The ex-dividend date was Friday, March 7th. This represents a $3.80 annualized dividend and a yield of 2.11%. Lancaster Colony’s dividend payout ratio is currently 66.78%.

Insider Activity at Lancaster Colony

In other Lancaster Colony news, CEO David Alan Ciesinski sold 17,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $191.19, for a total value of $3,250,230.00. Following the completion of the sale, the chief executive officer now owns 54,644 shares of the company’s stock, valued at approximately $10,447,386.36. This trade represents a 23.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 29.50% of the company’s stock.

Hedge Funds Weigh In On Lancaster Colony

A number of large investors have recently made changes to their positions in LANC. FMR LLC increased its holdings in Lancaster Colony by 54.8% in the third quarter. FMR LLC now owns 45,401 shares of the company’s stock valued at $8,016,000 after buying an additional 16,074 shares in the last quarter. Centiva Capital LP purchased a new position in Lancaster Colony in the 3rd quarter valued at approximately $438,000. Point72 Asset Management L.P. raised its holdings in Lancaster Colony by 37.4% during the third quarter. Point72 Asset Management L.P. now owns 10,800 shares of the company’s stock worth $1,907,000 after purchasing an additional 2,942 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Lancaster Colony during the third quarter worth $331,000. Finally, Quantinno Capital Management LP grew its holdings in Lancaster Colony by 0.5% in the third quarter. Quantinno Capital Management LP now owns 12,568 shares of the company’s stock valued at $2,219,000 after purchasing an additional 67 shares during the last quarter. Hedge funds and other 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.