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

Shares of Lancaster Colony Co. (NASDAQ:LANC) have been given a consensus rating of “Hold” by the four brokerages that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $198.75.

Separately, Stephens cut shares of Lancaster Colony from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $205.00 to $218.00 in a report on Friday, February 2nd.

Insider Buying and Selling

In other Lancaster Colony news, insider Kristin Bird sold 1,207 shares of Lancaster Colony stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $192.66, for a total value of $232,540.62. Following the completion of the sale, the insider now directly owns 3,546 shares in the company, valued at $683,172.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 29.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Lancaster Colony

A number of institutional investors have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. raised its position in shares of Lancaster Colony by 31.0% in the first quarter. Advisor Group Holdings Inc. now owns 2,326 shares of the company’s stock valued at $298,000 after purchasing an additional 550 shares during the period. JPMorgan Chase & Co. raised its position in shares of Lancaster Colony by 5.4% in the first quarter. JPMorgan Chase & Co. now owns 39,357 shares of the company’s stock valued at $5,870,000 after purchasing an additional 2,004 shares during the period. Raymond James & Associates raised its position in shares of Lancaster Colony by 10.8% in the first quarter. Raymond James & Associates now owns 19,450 shares of the company’s stock valued at $2,901,000 after purchasing an additional 1,895 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Lancaster Colony by 6.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,852 shares of the company’s stock valued at $425,000 after purchasing an additional 162 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Lancaster Colony by 39.4% in the first quarter. MetLife Investment Management LLC now owns 22,578 shares of the company’s stock valued at $3,368,000 after purchasing an additional 6,376 shares during the period. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Lancaster Colony Price Performance

Shares of LANC opened at $194.81 on Thursday. Lancaster Colony has a one year low of $158.88 and a one year high of $220.65. The company has a 50-day moving average of $200.09 and a two-hundred day moving average of $180.64. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 41.63 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last announced its earnings results on Thursday, February 1st. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.66 by $0.27. Lancaster Colony had a net margin of 6.92% and a return on equity of 17.37%. The company had revenue of $485.92 million during the quarter, compared to analysts’ expectations of $489.00 million. Analysts anticipate that Lancaster Colony will post 6.47 earnings per share for the current year.

Lancaster Colony Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 7th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Wednesday, March 6th. Lancaster Colony’s dividend payout ratio is currently 76.92%.

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.