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

Shares of Lancaster Colony Co. (NASDAQ:LANC) have earned an average rating of “Hold” from the four ratings firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $198.75.

A number of equities analysts have recently issued reports on LANC shares. Stephens reiterated an “equal weight” rating and set a $218.00 target price on shares of Lancaster Colony in a research report on Friday, May 3rd. StockNews.com upgraded shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd.

Insider Buying and Selling at Lancaster Colony

In other Lancaster Colony news, insider Kristin Bird sold 1,207 shares of the company’s 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 owns 3,546 shares of the company’s stock, valued at $683,172.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 29.60% of the company’s stock.

Institutional Investors Weigh In On Lancaster Colony

Large investors have recently bought and sold shares of the company. Brown Brothers Harriman & Co. bought a new stake in Lancaster Colony in the fourth quarter valued at approximately $67,000. Clarity Asset Management Inc. bought a new stake in shares of Lancaster Colony during the fourth quarter worth $70,000. Principal Securities Inc. bought a new stake in shares of Lancaster Colony during the fourth quarter worth $129,000. UMB Bank n.a. increased its position in shares of Lancaster Colony by 11.8% during the fourth quarter. UMB Bank n.a. now owns 894 shares of the company’s stock worth $149,000 after acquiring an additional 94 shares in the last quarter. Finally, TFO Wealth Partners LLC increased its position in shares of Lancaster Colony by 92,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 928 shares of the company’s stock worth $166,000 after acquiring an additional 927 shares in the last quarter. Institutional investors own 66.44% of the company’s stock.

Lancaster Colony Trading Up 0.6 %

Shares of Lancaster Colony stock opened at $194.86 on Monday. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 40.43 and a beta of 0.39. Lancaster Colony has a 1-year low of $158.88 and a 1-year high of $218.41. The firm’s 50-day moving average price is $198.51 and its two-hundred day moving average price is $182.84.

Lancaster Colony (NASDAQ:LANC) last announced its earnings results on Thursday, May 2nd. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.02. Lancaster Colony had a net margin of 7.10% and a return on equity of 18.96%. The company had revenue of $471.40 million for the quarter, compared to analyst estimates of $467.90 million. During the same period in the prior year, the business earned $0.89 earnings per share. Lancaster Colony’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities research analysts predict that Lancaster Colony will post 6.53 EPS for the current year.

Lancaster Colony Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 7th were issued a $0.90 dividend. The ex-dividend date was Wednesday, March 6th. This represents a $3.60 annualized dividend and a yield of 1.85%. Lancaster Colony’s dividend payout ratio is currently 74.69%.

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.