Lancaster Colony Co. (NASDAQ:LANC) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Lancaster Colony Co. (NASDAQ:LANC) have been assigned a consensus recommendation of “Hold” from the five research firms currently covering the stock. Four equities research analysts have rated the stock with a hold recommendation, while one has issued a buy recommendation for the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $195.75.
LANC has been the subject of a number of analyst reports. Loop Capital decreased their price target on Lancaster Colony from $236.00 to $232.00 and set a “buy” rating for the company in a report on August 26. Stephens lowered their price target on shares of Lancaster Colony from $205.00 to $200.00 while assigning an “equal weight” rating in a report on August 23. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a report on September 18. Finally, StockNews.com lowered Lancaster Colony from a “buy” rating to a “hold” rating in a research report on August 23.
In other news, Director Elliot K. Fullen acquired 3,000 shares of Lancaster Colony stock in a transaction that occurred on August 27. The shares were purchased at an average cost of $169.00 per share, leading to a total transaction of $507,000. Following the completion of the purchase, the director now directly owns 5,298 shares of the company’s stock, valued at $895,362, reflecting a 100.00% increase in their position. This transaction was disclosed in a legal filing with regulatory authorities.
Institutional investors have also made significant changes to their positions in the stock. Blair William & Co. IL grew its stake in Lancaster Colony by 2,386.6% during the second quarter, now owning 172,075 shares worth $32,517,000 after buying an additional 165,155 shares. Wesbanco Bank Inc. increased its position in shares of Lancaster Colony by 4,189.1% during the third quarter, with ownership of 163,800 shares valued at $28,922,000 after acquiring an additional 159,981 shares. Meanwhile, Vanguard Group Inc. increased its holdings by 4.1% in the first quarter, owning 2,186,162 shares worth $453,913,000 after acquisition of 85,658 shares during the period. F M Investments LLC bought into Lancaster Colony in the second quarter, valuing approximately $7,997,000. Lastly, Millennium Management LLC boosted its stake in Lancaster Colony by 1,055.2% during the second quarter, currently owning 36,090 shares valued at $6,820,000. Notably, 66.44% of the stock is owned by institutional investors.
Lancaster Colony stock opened at $180.28 recently. The firm has a fifty-day moving average of $181.18 and a 200-day moving average of $187.45. The company has a 52-week low of $160.01 and a 52-week high of $215.31, with a market capitalization of $4.96 billion, a P/E ratio of 37.40, and a beta of 0.35.
In its last quarterly earnings report announced on August 22, Lancaster Colony reported earnings per share (EPS) of $1.35, missing the consensus estimate of $1.41 by $0.06. The company had revenue of $452.83 million during the quarter, compared to analyst estimates of $462.70 million. Lancaster Colony reported a net margin of 8.47% and a return on equity of 19.61%. Analysts expect that Lancaster Colony will post an EPS of 6.96 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on September 30. Investors of record on September 9 received a $0.90 dividend, representing an annualized dividend of $3.60 and a yield of 2.00%. The ex-dividend date was September 9, and Lancaster Colony’s dividend payout ratio currently stands at 74.69%.
Lancaster Colony Corporation engages in manufacturing and marketing specialty food products for the retail and foodservice channels in the United States, operating in two segments: Retail and Foodservice. The company offers various products, including frozen garlic bread under the New York BRAND Bakery, frozen rolls under the Sister Schubert’s brand, salad dressings under numerous brands such as Marzetti and Simply Dressed, dips, croutons, and frozen pasta.
Lancaster Colony’s stock performance continues to be watched closely by analysts and investors alike, reflecting the company’s position within the specialty food market and broader economic trends.
