Lancaster Colony Co. (NASDAQ:LANC) Receives $198.75 Average Price Target from Analysts

Lancaster Colony Co. (NASDAQ:LANC) has earned a consensus rating of “Hold” from the four research firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $198.75.

Several equities research analysts recently weighed in on the stock. Stephens reaffirmed an “equal weight” rating and issued a $218.00 price objective on shares of Lancaster Colony in a report on Friday, May 3rd. StockNews.com raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd.

Lancaster Colony Stock Performance

Shares of NASDAQ:LANC opened at $188.30 on Friday. Lancaster Colony has a 1-year low of $158.88 and a 1-year high of $215.31. The company’s fifty day moving average is $186.87 and its two-hundred day moving average is $190.99. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 39.07 and a beta of 0.37.

Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.02. Lancaster Colony had a return on equity of 18.96% and a net margin of 7.10%. The firm had revenue of $471.40 million during the quarter, compared to the consensus estimate of $467.90 million. During the same period in the prior year, the business earned $0.89 EPS. The firm’s revenue was up 1.4% on a year-over-year basis. Sell-side analysts expect that Lancaster Colony will post 6.45 EPS for the current fiscal year.

Lancaster Colony Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a dividend of $0.90 per share. The ex-dividend date was Friday, June 7th. This represents a $3.60 annualized dividend and a dividend yield of 1.91%. Lancaster Colony’s dividend payout ratio (DPR) is 74.69%.

Institutional Trading of Lancaster Colony

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boston Trust Walden Corp increased its holdings in shares of Lancaster Colony by 54.5% in the fourth quarter. Boston Trust Walden Corp now owns 319,366 shares of the company’s stock valued at $53,139,000 after buying an additional 112,696 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Lancaster Colony by 26.5% during the fourth quarter. Victory Capital Management Inc. now owns 415,629 shares of the company’s stock worth $69,157,000 after purchasing an additional 86,994 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Lancaster Colony by 4.1% during the first quarter. Vanguard Group Inc. now owns 2,186,162 shares of the company’s stock valued at $453,913,000 after purchasing an additional 85,658 shares during the last quarter. Mesirow Institutional Investment Management Inc. boosted its position in shares of Lancaster Colony by 72.6% in the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 86,280 shares of the company’s stock valued at $14,356,000 after purchasing an additional 36,291 shares during the period. Finally, Franklin Resources Inc. increased its stake in Lancaster Colony by 66.7% in the 4th quarter. Franklin Resources Inc. now owns 57,302 shares of the company’s stock worth $9,534,000 after purchasing an additional 22,926 shares in the last quarter. 66.44% of the stock is owned by institutional investors and hedge funds.

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.