Lancaster Colony Corp. (NASDAQ:LANC) has earned a consensus broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold recommendation.
Brokerages have set a 1 year consensus price objective of $128.00 for the company and are forecasting that the company will post $1.13 EPS for the current quarter, according to Zacks. Zacks has also assigned Lancaster Colony Corp. an industry rank of 158 out of 265 based on the ratings given to its competitors.
Several research analysts recently issued reports on LANC shares. Zacks Investment Research raised shares of Lancaster Colony Corp. from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a report on Tuesday, August 23rd. DA Davidson lifted their price objective on shares of Lancaster Colony Corp. from $120.00 to $128.00 and gave the company a “neutral” rating in a report on Monday, August 8th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $106.00 price objective (down previously from $121.00) on shares of Lancaster Colony Corp. in a report on Friday, August 19th.
Shares of Lancaster Colony Corp. (NASDAQ:LANC) traded up 1.76% during mid-day trading on Tuesday, hitting $133.63. The stock had a trading volume of 36,012 shares. Lancaster Colony Corp. has a 52-week low of $95.47 and a 52-week high of $137.71. The company’s 50 day moving average is $132.13 and its 200-day moving average is $122.65. The stock has a market cap of $3.66 billion, a P/E ratio of 30.10 and a beta of 0.73.
Lancaster Colony Corp. (NASDAQ:LANC) last issued its earnings results on Thursday, August 18th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.09. Lancaster Colony Corp. had a net margin of 10.22% and a return on equity of 23.29%. The firm earned $284.50 million during the quarter, compared to analysts’ expectations of $291.72 million. During the same quarter last year, the company posted $0.93 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that Lancaster Colony Corp. will post $4.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $2.00 dividend on an annualized basis and a yield of 1.52%. Lancaster Colony Corp.’s payout ratio is 45.05%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services Inc boosted its stake in Lancaster Colony Corp. by 0.4% in the second quarter. Commonwealth Equity Services Inc now owns 2,837 shares of the company’s stock worth $362,000 after buying an additional 11 shares in the last quarter. First National Bank of Omaha boosted its stake in Lancaster Colony Corp. by 0.4% in the second quarter. First National Bank of Omaha now owns 6,000 shares of the company’s stock worth $766,000 after buying an additional 25 shares in the last quarter. Sei Investments Co. boosted its stake in Lancaster Colony Corp. by 1.0% in the second quarter. Sei Investments Co. now owns 3,137 shares of the company’s stock worth $400,000 after buying an additional 30 shares in the last quarter. First Republic Investment Management Inc. boosted its stake in Lancaster Colony Corp. by 1.3% in the first quarter. First Republic Investment Management Inc. now owns 4,865 shares of the company’s stock worth $538,000 after buying an additional 64 shares in the last quarter. Finally, State Treasurer State of Michigan boosted its stake in Lancaster Colony Corp. by 1.3% in the second quarter. State Treasurer State of Michigan now owns 7,820 shares of the company’s stock worth $998,000 after buying an additional 100 shares in the last quarter. 51.93% of the stock is owned by institutional investors.
Lancaster Colony Corp. Company Profile
Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice markets. The Company is focused on its specialty foods segment. It manufactures and sells a range of food products, including salad dressings and sauces; fruit glazes, vegetable dips and fruit dips; Greek yogurt vegetable dips and hummus; frozen garlic breads; frozen Parkerhouse style yeast dinner rolls and sweet rolls, as well as biscuits; dry egg noodles; croutons and related products; snack sticks and flatbread wraps and pizza crusts.
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