Brokerages Set Lancaster Colony Co. (NASDAQ:LANC) Target Price at $195.75

Shares of Lancaster Colony Co. (NASDAQ:LANC) have earned a consensus rating of “Hold” from the five ratings firms that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to 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 research analysts recently issued reports on the company. Benchmark reissued a “hold” rating on shares of Lancaster Colony in a research report on Wednesday, September 18th. StockNews.com downgraded Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Stephens decreased their price target on Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. Finally, Loop Capital decreased their price target 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.

Lancaster Colony Stock Performance

Shares of Lancaster Colony stock opened at $175.78 on Friday. The business’s 50 day simple moving average is $179.83 and its 200 day simple moving average is $186.33. Lancaster Colony has a 52-week low of $160.01 and a 52-week high of $215.31. The firm has a market cap of $4.84 billion, a PE ratio of 36.47 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last announced its earnings results on Thursday, August 22nd. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.06). Lancaster Colony had a net margin of 8.47% and a return on equity of 19.61%. The firm had revenue of $452.83 million during the quarter, compared to analyst estimates of $462.70 million. As a group, equities research analysts predict that Lancaster Colony will post 6.96 EPS for the current year.

Lancaster Colony Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $3.60 annualized dividend and a dividend yield of 2.05%. Lancaster Colony’s dividend payout ratio is currently 74.69%.

Insider Transactions at Lancaster Colony

In other Lancaster Colony news, Director Elliot K. Fullen bought 3,000 shares of Lancaster Colony stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the purchase, the director now owns 5,298 shares of the company’s stock, valued at $895,362. The trade was a 100.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 29.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of Lancaster Colony during the 2nd quarter worth approximately $1,528,000. Capstone Investment Advisors LLC acquired a new stake in Lancaster Colony during the 1st quarter worth approximately $864,000. Susquehanna Fundamental Investments LLC acquired a new stake in Lancaster Colony during the 1st quarter worth approximately $868,000. Foguth Wealth Management LLC. acquired a new stake in Lancaster Colony during the 1st quarter worth approximately $862,000. Finally, Leeward Investments LLC MA lifted its holdings in Lancaster Colony by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 51,981 shares of the company’s stock worth $9,823,000 after purchasing an additional 2,771 shares during the last quarter. 66.44% of the stock is currently owned by institutional investors.

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.