Loop Capital Lowers Lancaster Colony (NASDAQ:LANC) Price Target to $227.00

Lancaster Colony (NASDAQ:LANC) had its price objective decreased by investment analysts at Loop Capital from $232.00 to $227.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s price target would indicate a potential upside of 26.08% from the company’s previous close.

Several other brokerages have also weighed in on LANC. StockNews.com lowered Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research report on Friday. Finally, Stephens lowered their price target on shares of Lancaster Colony from $200.00 to $196.00 and set an “equal weight” rating on the stock in a research report on Friday. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $193.50.

Lancaster Colony Trading Up 3.7 %

NASDAQ LANC traded up $6.44 during trading hours on Friday, hitting $180.04. The company’s stock had a trading volume of 133,645 shares, compared to its average volume of 129,615. The company’s 50-day simple moving average is $177.00 and its two-hundred day simple moving average is $184.81. The company has a market capitalization of $4.96 billion, a PE ratio of 31.14 and a beta of 0.35. Lancaster Colony has a 52 week low of $161.54 and a 52 week high of $215.31.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.08). Lancaster Colony had a return on equity of 19.61% and a net margin of 8.47%. The firm had revenue of $466.56 million for the quarter, compared to analysts’ expectations of $468.36 million. During the same quarter last year, the firm posted $1.70 earnings per share. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. Research analysts anticipate that Lancaster Colony will post 6.99 EPS for the current fiscal year.

Insider Transactions at Lancaster Colony

In related news, Director Elliot K. Fullen acquired 3,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of $169.00 per share, with a total value of $507,000.00. Following the acquisition, the director now owns 5,298 shares of the company’s stock, valued at approximately $895,362. The trade was a 100.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 29.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LANC. SG Americas Securities LLC bought a new stake in shares of Lancaster Colony in the second quarter worth about $1,528,000. Capstone Investment Advisors LLC bought a new stake in Lancaster Colony in the first quarter valued at $864,000. Susquehanna Fundamental Investments LLC purchased a new position in Lancaster Colony during the 1st quarter valued at $868,000. Leeward Investments LLC MA raised its holdings in Lancaster Colony by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 51,981 shares of the company’s stock worth $9,823,000 after purchasing an additional 2,771 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Lancaster Colony in the 2nd quarter worth about $658,000. 66.44% of the stock is currently owned by institutional investors.

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.