Lancaster Colony Corp. (LANC) Raised to “Buy” at Vertical Group

Lancaster Colony Corp. (LANC) Raised to “Buy” at Vertical Group

Several other research analysts also recently weighed in on the stock. Vertical Research raised shares of Lancaster Colony Corp. from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research downgraded shares of Lancaster Colony Corp. from a “hold” rating to a “sell” rating in a research report on Monday, January 30th. CL King began coverage on shares of Lancaster Colony Corp. in a research report on Monday, January 30th. They issued a “buy” rating and a $158.00 target price on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $160.00 target price on shares of Lancaster Colony Corp. in a research report on Monday, April 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $147.20.

Lancaster Colony Corp. (NASDAQ:LANC) was upgraded by investment analysts at Vertical Group from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $146.00 price target on the stock, up from their previous price target of $123.00. Vertical Group’s price target points to a potential upside of 16.33% from the stock’s previous close.

Shares of Lancaster Colony Corp. (NASDAQ:LANC) opened at 125.44 on Tuesday. The firm has a 50 day moving average of $124.96 and a 200 day moving average of $132.49. The stock has a market cap of $3.44 billion, a P/E ratio of 29.31 and a beta of 0.85. Lancaster Colony Corp. has a one year low of $117.50 and a one year high of $149.30.

Lancaster Colony Corp. (NASDAQ:LANC) last announced its quarterly earnings data on Thursday, April 27th. The company reported $0.95 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by $0.14. The business had revenue of $293.83 million during the quarter, compared to analyst estimates of $286.37 million. Lancaster Colony Corp. had a return on equity of 25.07% and a net margin of 11.09%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 EPS. On average, equities research analysts predict that Lancaster Colony Corp. will post $4.71 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 8th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Tuesday, June 6th. Lancaster Colony Corp.’s dividend payout ratio (DPR) is currently 45.64%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cypress Wealth Advisors LLC increased its position in Lancaster Colony Corp. by 3.4% in the first quarter. Cypress Wealth Advisors LLC now owns 1,622 shares of the company’s stock valued at $209,000 after buying an additional 54 shares during the period. HighTower Advisors LLC increased its position in Lancaster Colony Corp. by 40.7% in the first quarter. HighTower Advisors LLC now owns 5,832 shares of the company’s stock valued at $751,000 after buying an additional 1,687 shares during the period. Paloma Partners Management Co purchased a new position in Lancaster Colony Corp. during the first quarter valued at $309,000. Nomura Holdings Inc. purchased a new position in Lancaster Colony Corp. during the first quarter valued at $312,000. Finally, State Street Corp increased its position in Lancaster Colony Corp. by 3.3% in the first quarter. State Street Corp now owns 1,436,174 shares of the company’s stock valued at $185,035,000 after buying an additional 45,281 shares during the period. 50.06% of the stock is currently owned by institutional investors and hedge funds.

Lancaster Colony Corp. Company Profile

Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:LANC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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