Brokerages Set Lancaster Colony Co. (NASDAQ:LANC) Price Target at $195.75

Shares of Lancaster Colony Co. (NASDAQ:LANC) have received a consensus rating of “Hold” from the five brokerages that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $195.75.

A number of equities analysts have issued reports on the company. Benchmark restated a “hold” rating on shares of Lancaster Colony in a report on Wednesday, September 18th. StockNews.com lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Stephens reduced their price target 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. Finally, Loop Capital dropped their price objective on shares of Lancaster Colony from $236.00 to $232.00 and set a “buy” rating on the stock in a report on Monday, August 26th.

Lancaster Colony Stock Down 1.0 %

Shares of NASDAQ LANC opened at $179.99 on Tuesday. The company has a market capitalization of $4.95 billion, a PE ratio of 37.34 and a beta of 0.35. Lancaster Colony has a twelve month low of $160.01 and a twelve month high of $215.31. The firm has a fifty day simple moving average of $183.78 and a 200 day simple moving average of $189.44.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.41 by ($0.06). Lancaster Colony had a return on equity of 19.61% and a net margin of 8.47%. The business had revenue of $452.83 million during the quarter, compared to the consensus estimate of $462.70 million. As a group, equities analysts expect that Lancaster Colony will post 6.96 earnings per share for the current fiscal 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 issued 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 2.00%. Lancaster Colony’s payout ratio is 74.69%.

Insider Buying and Selling at Lancaster Colony

In other Lancaster Colony news, Director Elliot K. Fullen bought 3,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average price of $169.00 per share, for a total transaction of $507,000.00. Following the acquisition, the director now directly owns 5,298 shares of the company’s stock, valued at approximately $895,362. The acquisition 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

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