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

Lancaster Colony (NASDAQ:LANC)‘s stock had its “hold” rating reiterated by stock analysts at Benchmark in a note issued to investors on Tuesday,Benzinga reports.

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Stephens decreased their price objective on shares of Lancaster Colony from $200.00 to $196.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Finally, Loop Capital dropped their target price on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $193.50.

Lancaster Colony Price Performance

LANC opened at $180.04 on Tuesday. The company’s 50 day simple moving average is $180.97 and its two-hundred day simple moving average is $184.90. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 31.15 and a beta of 0.35. Lancaster Colony has a 1-year low of $161.54 and a 1-year high of $215.31.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.08). Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The company had revenue of $466.56 million for the quarter, compared to analyst estimates of $468.36 million. During the same period last year, the firm posted $1.70 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts anticipate that Lancaster Colony will post 6.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Elliot K. Fullen acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average price of $169.00 per share, with a total value of $507,000.00. Following the completion of the transaction, the director now owns 5,298 shares of the company’s stock, valued at $895,362. The trade was a 130.55 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 29.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lancaster Colony

Several large investors have recently bought and sold shares of LANC. Russell Investments Group Ltd. grew its position in shares of Lancaster Colony by 22.4% during the first quarter. Russell Investments Group Ltd. now owns 6,927 shares of the company’s stock worth $1,438,000 after buying an additional 1,267 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Lancaster Colony by 21.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 6,765 shares of the company’s stock valued at $1,372,000 after purchasing an additional 1,184 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Lancaster Colony by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,186,162 shares of the company’s stock worth $453,913,000 after purchasing an additional 85,658 shares during the last quarter. Covestor Ltd grew its stake in shares of Lancaster Colony by 27.5% during the first quarter. Covestor Ltd now owns 551 shares of the company’s stock worth $115,000 after purchasing an additional 119 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Lancaster Colony by 12.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 16,805 shares of the company’s stock valued at $3,484,000 after buying an additional 1,862 shares during the last quarter. Hedge funds and other institutional investors own 66.44% of the company’s stock.

About Lancaster Colony

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.