Lancaster Colony’s (LANC) Hold Rating Reiterated at Benchmark

Benchmark reaffirmed their hold rating on shares of Lancaster Colony (NASDAQ:LANC) in a research report released on Wednesday morning, Benzinga reports.

A number of other brokerages have also issued reports on LANC. Stephens cut their price objective on shares of Lancaster Colony from $205.00 to $200.00 and set an equal weight rating for the company in a report on Friday, August 23rd. StockNews.com cut shares of Lancaster Colony from a buy rating to a hold rating in a research note on Friday, August 23rd. Finally, Loop Capital decreased their price target on shares of Lancaster Colony from $236.00 to $232.00 and set a buy rating on the stock in a research note on Monday, August 26th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $195.75.

Lancaster Colony Stock Performance

Shares of Lancaster Colony stock opened at $181.80 on Wednesday. Lancaster Colony has a fifty-two week low of $160.01 and a fifty-two week high of $215.31. The company has a market capitalization of $5.00 billion, a P/E ratio of 37.72 and a beta of 0.35. The company has a fifty day moving average of $183.90 and a 200 day moving average of $189.72.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings data on Thursday, August 22nd. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.06). The business had revenue of $452.83 million during the quarter, compared to the consensus estimate of $462.70 million. Lancaster Colony had a return on equity of 19.61% and a net margin of 8.47%. Analysts forecast that Lancaster Colony will post 6.96 EPS for the current year.

Lancaster Colony Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a dividend of $0.90 per share. The ex-dividend date is Monday, September 9th. This represents a $3.60 annualized dividend and a yield of 1.98%. Lancaster Colony’s dividend payout ratio (DPR) is currently 74.69%.

Insiders Place Their Bets

In related news, Director Elliot K. Fullen acquired 3,000 shares of Lancaster Colony stock in a transaction on Tuesday, August 27th. The shares were bought at an average cost of $169.00 per share, with a total value of $507,000.00. Following the completion of the purchase, the director now directly owns 5,298 shares of the company’s stock, valued at approximately $895,362. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 29.60% of the company’s stock.

Institutional Investors Weigh In On Lancaster Colony

Several institutional investors have recently made changes to their positions in LANC. Consolidated Planning Corp boosted its holdings in Lancaster Colony by 4.5% during the 2nd quarter. Consolidated Planning Corp now owns 1,232 shares of the company’s stock valued at $233,000 after acquiring an additional 53 shares during the period. UMB Bank n.a. lifted its position in shares of Lancaster Colony by 6.5% during the first quarter. UMB Bank n.a. now owns 952 shares of the company’s stock worth $198,000 after purchasing an additional 58 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of Lancaster Colony by 0.3% during the first quarter. Retirement Systems of Alabama now owns 25,570 shares of the company’s stock valued at $5,309,000 after purchasing an additional 67 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Lancaster Colony by 0.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 15,179 shares of the company’s stock worth $2,868,000 after purchasing an additional 87 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Lancaster Colony by 115.9% in the 2nd quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock worth $33,000 after buying an additional 95 shares during the period. Institutional investors own 66.44% of the company’s stock.

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.