Lancaster Colony Co. (NASDAQ:LANC) Given Average Rating of “Hold” by Brokerages

Posted by MarketBeat News on Aug 6th, 2022

Shares of Lancaster Colony Co. (NASDAQ:LANC – Get Rating) have earned an average recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $140.00.

Several research firms have recently commented on LANC. Cowen assumed coverage on shares of Lancaster Colony in a research note on Monday, May 23rd. They set a “market perform” rating and a $140.00 price target on the stock. TheStreet downgraded shares of Lancaster Colony from a “b-” rating to a “c” rating in a research report on Tuesday, May 17th. Benchmark cut shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, May 6th. CL King started coverage on shares of Lancaster Colony in a research report on Tuesday, June 14th. They issued a “neutral” rating for the company. Finally, Cowen initiated coverage on shares of Lancaster Colony in a report on Monday, May 23rd. They set a “market perform” rating and a $140.00 target price on the stock.

Lancaster Colony Stock Up 1.4 %

NASDAQ LANC opened at $137.83 on Friday. The stock has a market cap of $3.79 billion, a P/E ratio of 41.27 and a beta of 0.14. The company’s 50-day simple moving average is $127.67 and its 200 day simple moving average is $143.64. Lancaster Colony has a twelve month low of $116.85 and a twelve month high of $193.14.

Lancaster Colony (NASDAQ:LANC – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported $0.46 earnings per share for the quarter. The business had revenue of $403.49 million for the quarter. Lancaster Colony had a net margin of 5.73% and a return on equity of 12.98%. Research analysts anticipate that Lancaster Colony will post 2.7 earnings per share for the current year.

Lancaster Colony Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Thursday, June 9th were paid a $0.80 dividend. The ex-dividend date was Wednesday, June 8th. This represents a $3.20 annualized dividend and a dividend yield of 2.32%. Lancaster Colony’s payout ratio is 95.81%.

Insider Transactions at Lancaster Colony

In other news, CFO K. Pigott Thomas bought 800 shares of Lancaster Colony stock in a transaction dated Thursday, May 19th. The stock was purchased at an average price of $121.70 per share, for a total transaction of $97,360.00. Following the purchase, the chief financial officer now directly owns 5,817 shares in the company, valued at approximately $707,928.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 29.90% of the company’s stock.

Hedge Funds Weigh In On Lancaster Colony

Institutional investors have recently added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC bought a new position in Lancaster Colony during the first quarter valued at about $34,000. Artemis Wealth Advisors LLC bought a new position in Lancaster Colony during the first quarter worth about $37,000. New Century Advisors LLC bought a new position in Lancaster Colony during the fourth quarter worth about $43,000. Nisa Investment Advisors LLC boosted its position in Lancaster Colony by 206.0% during the first quarter. Nisa Investment Advisors LLC now owns 306 shares of the company’s stock worth $46,000 after purchasing an additional 206 shares during the period. Finally, Pinebridge Investments L.P. bought a new position in Lancaster Colony during the fourth quarter worth about $50,000. Institutional investors own 57.30% of the company’s stock.

Lancaster Colony Company Profile

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Lancaster Colony Corporation manufactures and markets food products for the retail and foodservice markets in the United States. The company operates in two segments, Retail and Foodservice. It 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, Cardini's, and Girard's; flatbread wraps and pizza crusts under the Flatout brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti; frozen pasta under the Marzetti Frozen Pasta brand; and vegetable and fruit dips under the Marzetti brand.