Lancaster Colony Co. (NASDAQ:LANC) Receives $195.75 Consensus Price Target from Analysts

Shares of Lancaster Colony Co. (NASDAQ:LANC) have been assigned a consensus recommendation of “Hold” from the five brokerages that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $195.75.

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

Insider Activity at Lancaster Colony

In other Lancaster Colony news, Director Elliot K. Fullen bought 3,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were bought at an average cost of $169.00 per share, with a total value of $507,000.00. Following the transaction, the director now directly owns 5,298 shares in the company, valued at approximately $895,362. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 29.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lancaster Colony

A number of hedge funds have recently bought and sold shares of LANC. Opal Wealth Advisors LLC bought a new position in Lancaster Colony during the 2nd quarter worth approximately $28,000. GAMMA Investing LLC lifted its stake in Lancaster Colony by 115.9% during the second quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock worth $33,000 after purchasing an additional 95 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Lancaster Colony in the second quarter worth $38,000. Brown Brothers Harriman & Co. bought a new stake in Lancaster Colony during the fourth quarter valued at $67,000. Finally, Clarity Asset Management Inc. acquired a new stake in shares of Lancaster Colony during the fourth quarter worth $70,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Lancaster Colony Trading Up 1.0 %

Shares of NASDAQ:LANC opened at $181.11 on Tuesday. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 37.57 and a beta of 0.35. Lancaster Colony has a 12-month low of $160.01 and a 12-month high of $215.31. The stock’s 50-day moving average price is $183.99 and its two-hundred day moving average price is $190.00.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings data 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). The firm had revenue of $452.83 million during the quarter, compared to analyst estimates of $462.70 million. Lancaster Colony had a net margin of 8.47% and a return on equity of 19.61%. As a group, research analysts forecast that Lancaster Colony will post 6.96 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Monday, September 9th. Lancaster Colony’s payout ratio is 74.69%.

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.