Loop Capital Has Lowered Expectations for Lancaster Colony (NASDAQ:LANC) Stock Price

Lancaster Colony (NASDAQ:LANC - Free Report) had its target price decreased by Loop Capital from $232.00 to $227.00 in a report released on Friday morning, Benzinga reports. Loop Capital currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on LANC. StockNews.com cut shares of Lancaster Colony from a "buy" rating to a "hold" rating in a research note on Friday, August 23rd. Stephens reduced their target price on Lancaster Colony from $200.00 to $196.00 and set an "equal weight" rating on the stock in a report on Friday. Finally, Benchmark reissued a "hold" rating on shares of Lancaster Colony in a research note on Friday. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $193.50.

Lancaster Colony Stock Up 4.0 %

LANC stock traded up $6.87 during trading on Friday, reaching $180.47. The company's stock had a trading volume of 277,923 shares, compared to its average volume of 130,296. The company's fifty day moving average is $177.00 and its 200-day moving average is $184.81. The company has a market capitalization of $4.98 billion, a P/E ratio of 31.39 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 - Get Free Report) last issued its 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 net margin of 8.47% and a return on equity of 19.61%. The business had revenue of $466.56 million for the quarter, compared to the consensus estimate of $468.36 million. During the same period last year, the business posted $1.70 EPS. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. Analysts anticipate that Lancaster Colony will post 6.99 earnings per share for the current year.

Lancaster Colony Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $3.60 annualized dividend and a yield of 1.99%. Lancaster Colony's payout ratio is presently 62.61%.

Insider Buying and Selling at Lancaster Colony

In other news, Director Elliot K. Fullen acquired 3,000 shares of the firm's stock in a transaction on Tuesday, August 27th. The stock was acquired at an average price of $169.00 per share, with a total value of $507,000.00. Following the completion of the purchase, the director now directly owns 5,298 shares in the company, valued at approximately $895,362. This trade represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 29.50% of the company's stock.

Institutional Trading of Lancaster Colony

A number of hedge funds and other institutional investors have recently bought and sold shares of LANC. V Square Quantitative Management LLC purchased a new position in Lancaster Colony in the 3rd quarter worth about $27,000. Opal Wealth Advisors LLC purchased a new position in shares of Lancaster Colony during the second quarter worth approximately $28,000. GAMMA Investing LLC raised its stake in shares of Lancaster Colony by 115.9% during the second quarter. GAMMA Investing LLC now owns 177 shares of the company's stock valued at $33,000 after acquiring an additional 95 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Lancaster Colony in the second quarter worth approximately $38,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Lancaster Colony during the 2nd quarter worth $74,000. 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.