Lancaster Colony (NASDAQ:LANC) Receives "Hold" Rating from Benchmark

Lancaster Colony (NASDAQ:LANC - Get Free Report)'s stock had its "hold" rating restated by investment analysts at Benchmark in a research report issued to clients and investors on Friday, Benzinga reports.

Several other analysts also recently issued reports on the stock. Loop Capital cut their target price on shares of Lancaster Colony from $236.00 to $232.00 and set a "buy" rating on the stock in a research note on Monday, August 26th. StockNews.com downgraded Lancaster Colony from a "buy" rating to a "hold" rating in a research note on Friday, August 23rd. Finally, Stephens lowered their target price on Lancaster Colony from $200.00 to $196.00 and set an "equal weight" rating on the stock in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Lancaster Colony currently has an average rating of "Hold" and an average target price of $193.50.

Lancaster Colony Trading Up 4.0 %

Shares of NASDAQ LANC traded up $6.87 during mid-day trading on Friday, reaching $180.47. The company had a trading volume of 277,580 shares, compared to its average volume of 129,893. The company has a 50-day moving average price of $177.00 and a two-hundred day moving average price of $184.81. The stock has a market cap of $4.98 billion, a PE ratio of 31.14 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 announced its earnings results on Thursday, October 31st. The company reported $1.62 EPS 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 during the quarter, compared to analyst estimates of $468.36 million. During the same quarter in the previous year, the business earned $1.70 earnings per share. The business's quarterly revenue was up 1.1% compared to the same quarter last year. On average, research analysts expect that Lancaster Colony will post 6.99 EPS for the current year.

Insider Buying and Selling

In related news, Director Elliot K. Fullen purchased 3,000 shares of the firm's stock in a transaction dated 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 purchase, the director now owns 5,298 shares in the company, valued at $895,362. The trade was a 100.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 29.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Lancaster Colony

Several large investors have recently modified their holdings of LANC. SG Americas Securities LLC bought a new stake in Lancaster Colony during the second quarter valued at about $1,528,000. Capstone Investment Advisors LLC acquired a new stake in Lancaster Colony in the 1st quarter valued at approximately $864,000. Susquehanna Fundamental Investments LLC bought a new position in Lancaster Colony in the 1st quarter worth approximately $868,000. Leeward Investments LLC MA lifted its holdings in shares of Lancaster Colony by 5.6% during the second quarter. Leeward Investments LLC MA now owns 51,981 shares of the company's stock worth $9,823,000 after buying an additional 2,771 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Lancaster Colony in the second quarter valued at approximately $658,000. 66.44% of the stock is owned by institutional investors.

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.