Lancaster Colony (NASDAQ:LANC) Price Target Cut to $196.00 by Analysts at Stephens

Lancaster Colony (NASDAQ:LANC) had its price objective trimmed by Stephens from $200.00 to $196.00 in a research report released on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other analysts have also commented on the stock. StockNews.com lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Loop Capital reduced their target price on shares of Lancaster Colony from $236.00 to $232.00 and set a “buy” rating for the company in a report on Monday, August 26th. Finally, Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a report on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $193.50.

Lancaster Colony Stock Performance

Shares of LANC traded up $6.87 during mid-day trading on Friday, reaching $180.47. The company had a trading volume of 277,923 shares, compared to its average volume of 130,296. The firm has a 50-day moving average price of $177.14 and a 200 day moving average price of $184.71. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of 31.39 and a beta of 0.35. Lancaster Colony has a 52 week low of $161.54 and a 52 week high of $215.31.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.08). Lancaster Colony had a return on equity of 19.61% and a net margin of 8.47%. The company had revenue of $466.56 million during the quarter, compared to analysts’ expectations of $468.36 million. During the same period in the prior year, the firm earned $1.70 EPS. Lancaster Colony’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, research analysts forecast that Lancaster Colony will post 6.99 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Monday, September 9th. Lancaster Colony’s payout ratio is currently 62.61%.

Insider Activity

In other news, Director Elliot K. Fullen acquired 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average cost of $169.00 per share, with a total value of $507,000.00. Following the acquisition, the director now directly owns 5,298 shares of the company’s stock, valued at approximately $895,362. The trade was a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 29.50% of the company’s stock.

Institutional Trading of Lancaster Colony

A number of large investors have recently made changes to their positions in LANC. SG Americas Securities LLC bought a new stake in Lancaster Colony during the second quarter worth approximately $1,528,000. Capstone Investment Advisors LLC purchased a new stake in Lancaster Colony during the 1st quarter valued at $864,000. Susquehanna Fundamental Investments LLC bought a new stake in Lancaster Colony in the first quarter worth $868,000. Leeward Investments LLC MA lifted its position in Lancaster Colony by 5.6% in the second quarter. Leeward Investments LLC MA now owns 51,981 shares of the company’s stock worth $9,823,000 after buying an additional 2,771 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new position in Lancaster Colony during the second quarter worth $658,000. 66.44% of the stock is currently owned by institutional investors.

About Lancaster Colony

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.