Lancaster Colony (NASDAQ:LANC) has been assigned a $154.00 price objective by Sidoti in a research note issued to investors on Wednesday, TipRanks reports. The firm presently has a “hold” rating on the stock. Sidoti’s target price suggests a potential upside of 7.48% from the stock’s current price.
Separately, BidaskClub raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a report on Friday, August 2nd.
Shares of LANC stock traded down $1.58 during midday trading on Wednesday, hitting $143.28. 147,937 shares of the company were exchanged, compared to its average volume of 132,520. The firm has a market capitalization of $3.99 billion, a P/E ratio of 28.48 and a beta of 0.31. The firm’s 50 day moving average price is $150.04 and its two-hundred day moving average price is $150.51. Lancaster Colony has a 52 week low of $138.90 and a 52 week high of $194.38.
Lancaster Colony (NASDAQ:LANC) last announced its earnings results on Tuesday, August 27th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.20). The company had revenue of $323.67 million for the quarter, compared to the consensus estimate of $331.56 million. Lancaster Colony had a return on equity of 19.88% and a net margin of 11.51%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.18 EPS.
In other Lancaster Colony news, Director Neeli Bendapudi sold 1,600 shares of the business’s stock in a transaction dated Saturday, September 7th. The shares were sold at an average price of $157.37, for a total value of $251,792.00. Following the completion of the sale, the director now owns 7,800 shares of the company’s stock, valued at approximately $1,227,486. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 31.80% of the company’s stock.
Several large investors have recently modified their holdings of LANC. Krane Funds Advisors LLC acquired a new position in shares of Lancaster Colony in the 2nd quarter valued at approximately $58,000. Advisory Services Network LLC acquired a new position in Lancaster Colony during the 2nd quarter worth approximately $78,000. Tower Research Capital LLC TRC increased its position in Lancaster Colony by 35.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 587 shares of the company’s stock worth $88,000 after purchasing an additional 153 shares in the last quarter. Signaturefd LLC increased its position in Lancaster Colony by 51.6% during the 2nd quarter. Signaturefd LLC now owns 743 shares of the company’s stock worth $110,000 after purchasing an additional 253 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new position in Lancaster Colony during the 2nd quarter worth approximately $149,000. Institutional investors own 55.30% of the company’s stock.
About Lancaster Colony
Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates through two segments, Retail and Foodservice. It offers frozen garlic breads under the New York BRAND Bakery brand; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand name; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardini's, and Girard's brands; and vegetable dips and fruit dips under the Marzetti brand.
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