Stephens Cuts Lancaster Colony (NASDAQ:LANC) Price Target to $196.00

Lancaster Colony (NASDAQ:LANC) had its price target trimmed by Stephens from $200.00 to $196.00 in a report published on Friday, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research firms have also recently commented on LANC. StockNews.com cut shares of 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 note on Wednesday, September 18th. Finally, 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 research note on Monday, August 26th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $193.50.

Lancaster Colony Trading Up 4.0 %

Shares of NASDAQ:LANC opened at $180.47 on Friday. The stock has a fifty day simple moving average of $177.14 and a two-hundred day simple moving average of $184.66. Lancaster Colony has a 12-month low of $161.54 and a 12-month high of $215.31. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 31.22 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $468.36 million. During the same period in the prior year, the firm earned $1.70 EPS. Lancaster Colony’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities research analysts predict that Lancaster Colony will post 6.99 EPS for the current year.

Lancaster Colony Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were paid a dividend of $0.90 per share. The ex-dividend date was Monday, September 9th. This represents a $3.60 dividend on an annualized basis and a yield of 1.99%. Lancaster Colony’s dividend payout ratio is presently 62.28%.

Insider Activity

In other news, Director Elliot K. Fullen acquired 3,000 shares of Lancaster Colony stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average price of $169.00 per share, for a total transaction of $507,000.00. Following the completion of the transaction, the director now owns 5,298 shares in the company, valued at $895,362. The trade was a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 29.50% of the company’s stock.

Institutional Investors Weigh In On Lancaster Colony

Several hedge funds and other institutional investors have recently made changes to their positions in LANC. Consolidated Planning Corp grew its position in Lancaster Colony by 4.5% during the second 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 period. Asset Management One Co. Ltd. increased its stake in shares of Lancaster Colony by 2.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 2,506 shares of the company’s stock worth $442,000 after purchasing an additional 57 shares in the last quarter. Retirement Systems of Alabama raised its holdings in Lancaster Colony by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 25,570 shares of the company’s stock worth $5,309,000 after purchasing an additional 67 shares during the period. Creative Financial Designs Inc. ADV lifted its position in Lancaster Colony by 1.8% during the third quarter. Creative Financial Designs Inc. ADV now owns 3,805 shares of the company’s stock valued at $672,000 after purchasing an additional 67 shares in the last quarter. Finally, AlphaMark Advisors LLC grew its holdings in Lancaster Colony by 5.2% during the third quarter. AlphaMark Advisors LLC now owns 1,686 shares of the company’s stock valued at $298,000 after purchasing an additional 83 shares during the period. Hedge funds and other 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.