Brokerages Set Lancaster Colony Co. (NASDAQ:LANC) Price Target at $198.75

Lancaster Colony Co. (NASDAQ:LANCGet Free Report) has received an average rating of “Hold” from the four brokerages that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $198.75.

Several equities research analysts have recently issued reports on LANC shares. Stephens lowered shares of Lancaster Colony from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $205.00 to $218.00 in a report on Friday, February 2nd. Jefferies Financial Group began coverage on shares of Lancaster Colony in a report on Monday, November 27th. They issued a “hold” rating and a $166.00 price target on the stock. Finally, DA Davidson began coverage on shares of Lancaster Colony in a research note on Friday, December 8th. They issued a “neutral” rating and a $185.00 target price for the company.

Read Our Latest Stock Analysis on LANC

Lancaster Colony Stock Performance

LANC stock opened at $198.91 on Friday. The firm has a market cap of $5.47 billion, a P/E ratio of 42.50 and a beta of 0.35. Lancaster Colony has a 52 week low of $158.88 and a 52 week high of $220.65. The firm’s fifty day moving average is $190.96 and its 200 day moving average is $175.71.

Lancaster Colony (NASDAQ:LANCGet Free Report) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.27. The firm had revenue of $485.92 million during the quarter, compared to analyst estimates of $489.00 million. Lancaster Colony had a net margin of 6.92% and a return on equity of 17.37%. As a group, analysts forecast that Lancaster Colony will post 6.43 EPS for the current year.

Lancaster Colony Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 7th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Wednesday, March 6th. This represents a $3.60 annualized dividend and a yield of 1.81%. Lancaster Colony’s dividend payout ratio is currently 76.92%.

Insider Buying and Selling

In other news, insider Kristin Bird sold 1,207 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $192.66, for a total value of $232,540.62. Following the completion of the transaction, the insider now owns 3,546 shares in the company, valued at $683,172.36. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 29.60% of the company’s stock.

Hedge Funds Weigh In On Lancaster Colony

Several hedge funds and other institutional investors have recently bought and sold shares of LANC. Atlas Capital Advisors LLC acquired a new position in Lancaster Colony during the 4th quarter worth $46,000. KBC Group NV acquired a new stake in Lancaster Colony in the 4th quarter valued at approximately $46,000. Lazard Asset Management LLC acquired a new stake in Lancaster Colony in the 2nd quarter valued at approximately $47,000. Sunbelt Securities Inc. bought a new stake in shares of Lancaster Colony during the first quarter valued at approximately $50,000. Finally, Brown Brothers Harriman & Co. bought a new stake in Lancaster Colony in the fourth quarter valued at $67,000. 60.49% of the stock is owned by institutional investors and hedge funds.

Lancaster Colony Company Profile

(Get Free Report

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.

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