Lancaster Colony Co. (NASDAQ:LANC – Get Rating) was the recipient of a significant decrease in short interest in the month of December. As of December 30th, there was short interest totalling 706,000 shares, a decrease of 5.9% from the December 15th total of 750,200 shares. Currently, 3.8% of the company’s shares are short sold. Based on an average daily trading volume, of 199,400 shares, the days-to-cover ratio is currently 3.5 days.
Wall Street Analysts Forecast Growth
Separately, StockNews.com started coverage on Lancaster Colony in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $140.00.
Insider Buying and Selling at Lancaster Colony
In related news, CEO David Alan Ciesinski sold 7,926 shares of the stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $210.01, for a total transaction of $1,664,539.26. Following the completion of the transaction, the chief executive officer now directly owns 62,183 shares in the company, valued at $13,059,051.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Kristin Bird sold 1,535 shares of Lancaster Colony stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $198.73, for a total transaction of $305,050.55. Following the completion of the transaction, the insider now directly owns 3,194 shares in the company, valued at approximately $634,743.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Alan Ciesinski sold 7,926 shares of Lancaster Colony stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $210.01, for a total value of $1,664,539.26. Following the transaction, the chief executive officer now owns 62,183 shares of the company’s stock, valued at $13,059,051.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,686 shares of company stock valued at $2,434,971. 29.90% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Lancaster Colony
Lancaster Colony Trading Up 0.3 %
NASDAQ LANC opened at $192.59 on Monday. The business’s 50-day moving average price is $200.80 and its two-hundred day moving average price is $173.34. Lancaster Colony has a 12 month low of $116.85 and a 12 month high of $214.00. The firm has a market capitalization of $5.31 billion, a PE ratio of 55.03 and a beta of 0.23.
Lancaster Colony (NASDAQ:LANC – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.14. Lancaster Colony had a return on equity of 14.40% and a net margin of 5.64%. The company had revenue of $425.54 million for the quarter, compared to the consensus estimate of $422.04 million. As a group, analysts forecast that Lancaster Colony will post 5.69 earnings per share for the current fiscal year.
Lancaster Colony Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Monday, December 5th were paid a dividend of $0.85 per share. This is an increase from Lancaster Colony’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Friday, December 2nd. Lancaster Colony’s dividend payout ratio is 97.14%.
About Lancaster Colony
Lancaster Colony Corp. engages in the manufacture and sale of specialty food products. It operates through the following segments: Retail and Foodservice. The Retail and Foodservice segments both focus on the manufacture and sale of frozen breads, refrigerated dressings, dips and shelf-stable dressings, and croutons under the brand names New York BRAND Bakery, Sister Schubert’s, Marzetti Frozen Pasta, and Flatout.
- Get a free copy of the StockNews.com research report on Lancaster Colony (LANC)
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