Lancaster Colony (NASDAQ:LANC) Upgraded at BidaskClub

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BidaskClub upgraded shares of Lancaster Colony (NASDAQ:LANC) from a hold rating to a buy rating in a research report released on Friday morning, BidAskClub reports.

NASDAQ LANC opened at $147.88 on Friday. The company’s 50-day moving average is $149.64. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 29.51 and a beta of 0.28. Lancaster Colony has a fifty-two week low of $141.01 and a fifty-two week high of $194.38.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans raised its stake in shares of Lancaster Colony by 5.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 4,958 shares of the company’s stock valued at $877,000 after buying an additional 271 shares during the last quarter. Stevens Capital Management LP acquired a new stake in shares of Lancaster Colony during the 1st quarter valued at about $2,003,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Lancaster Colony during the 1st quarter valued at about $312,000. Dorsey Wright & Associates acquired a new stake in shares of Lancaster Colony during the 1st quarter valued at about $1,919,000. Finally, Amalgamated Bank grew its position in shares of Lancaster Colony by 69.7% during the 4th quarter. Amalgamated Bank now owns 2,882 shares of the company’s stock valued at $510,000 after acquiring an additional 1,184 shares during the period. Institutional investors and hedge funds own 53.80% of the company’s stock.

About Lancaster Colony

Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates through two segments, Retail and Foodservice. It offers frozen garlic breads under the New York BRAND Bakery brand; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand name; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardini's, and Girard's brands; and vegetable dips and fruit dips under the Marzetti brand.

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