Lancaster Colony (NASDAQ:LANC) Price Target Raised to $207.00

Lancaster Colony (NASDAQ:LANC - Free Report) had its price objective increased by DA Davidson from $192.00 to $207.00 in a research note published on Monday,Benzinga reports. DA Davidson currently has a neutral rating on the stock.

LANC has been the topic of several other research reports. Stephens lifted their price objective on Lancaster Colony from $196.00 to $200.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Benchmark reiterated a "hold" rating on shares of Lancaster Colony in a research note on Tuesday, November 19th. StockNews.com upgraded shares of Lancaster Colony from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Finally, Loop Capital decreased their target price on shares of Lancaster Colony from $232.00 to $227.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $211.33.

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Lancaster Colony Trading Up 0.6 %

NASDAQ:LANC traded up $1.11 during trading hours on Monday, hitting $192.81. 66,980 shares of the company traded hands, compared to its average volume of 152,306. Lancaster Colony has a twelve month low of $163.20 and a twelve month high of $209.81. The firm has a 50-day moving average of $177.84 and a 200 day moving average of $180.97. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of 33.89 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $2.22 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.28. Lancaster Colony had a net margin of 8.26% and a return on equity of 19.51%. The business had revenue of $509.30 million during the quarter, compared to analyst estimates of $495.43 million. During the same quarter in the prior year, the business earned $1.87 earnings per share. The firm's revenue for the quarter was up 4.8% on a year-over-year basis. Equities research analysts predict that Lancaster Colony will post 6.64 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.97%. Lancaster Colony's payout ratio is presently 66.78%.

Institutional Investors Weigh In On Lancaster Colony

Several large investors have recently made changes to their positions in the company. Covestor Ltd boosted its position in Lancaster Colony by 48.4% in the fourth quarter. Covestor Ltd now owns 724 shares of the company's stock valued at $126,000 after buying an additional 236 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Lancaster Colony in the 4th quarter worth approximately $8,558,000. Martingale Asset Management L P grew its position in Lancaster Colony by 4.0% during the 4th quarter. Martingale Asset Management L P now owns 13,748 shares of the company's stock worth $2,380,000 after acquiring an additional 530 shares during the last quarter. Legal & General Group Plc increased its holdings in Lancaster Colony by 0.4% during the 4th quarter. Legal & General Group Plc now owns 42,514 shares of the company's stock valued at $7,361,000 after purchasing an additional 169 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Lancaster Colony by 3.6% in the 4th quarter. Bank of Montreal Can now owns 7,934 shares of the company's stock valued at $1,374,000 after purchasing an additional 273 shares during the last quarter. 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.