Lancaster Colony Co. to Issue Quarterly Dividend of $0.90 (NASDAQ:LANC)

Lancaster Colony Co. (NASDAQ:LANCGet Free Report) declared a quarterly dividend on Thursday, May 16th, NASDAQ reports. Shareholders of record on Friday, June 7th will be given a dividend of 0.90 per share on Friday, June 28th. This represents a $3.60 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Friday, June 7th.

Lancaster Colony has increased its dividend by an average of 6.6% per year over the last three years and has raised its dividend every year for the last 61 years. Lancaster Colony has a dividend payout ratio of 52.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Lancaster Colony to earn $6.99 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 51.5%.

Lancaster Colony Trading Up 1.2 %

Shares of Lancaster Colony stock opened at $187.47 on Thursday. The stock’s fifty day moving average price is $192.68 and its 200-day moving average price is $185.80. The firm has a market cap of $5.16 billion, a P/E ratio of 38.89 and a beta of 0.37. Lancaster Colony has a 12 month low of $158.88 and a 12 month high of $215.31.

Lancaster Colony (NASDAQ:LANCGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.02. The company had revenue of $471.40 million for the quarter, compared to analyst estimates of $467.90 million. Lancaster Colony had a net margin of 7.10% and a return on equity of 18.96%. Lancaster Colony’s revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company posted $0.89 earnings per share. Analysts forecast that Lancaster Colony will post 6.45 earnings per share for the current year.

Wall Street Analyst Weigh In

LANC has been the subject of several analyst reports. Stephens reissued an “equal weight” rating and set a $218.00 price target on shares of Lancaster Colony in a research report on Friday, May 3rd. raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $198.75.

View Our Latest Analysis on LANC

About Lancaster Colony

(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.

Further Reading

Dividend History for Lancaster Colony (NASDAQ:LANC)

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