Lancaster Colony Corp. (NASDAQ:LANC) shares hit a new 52-week high during trading on Friday . The company traded as high as $161.69 and last traded at $160.88, with a volume of 656 shares traded. The stock had previously closed at $160.93.
Several research analysts have recently issued reports on LANC shares. CL King increased their price target on Lancaster Colony from $140.00 to $150.00 in a research note on Tuesday, July 3rd. BidaskClub raised Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Saturday, July 7th. Finally, Vertical Group cut Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th.
The company has a market capitalization of $4.41 billion, a PE ratio of 36.51 and a beta of 0.88.
Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Thursday, August 23rd. The company reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.09. Lancaster Colony had a return on equity of 19.36% and a net margin of 11.06%. The company had revenue of $308.17 million during the quarter, compared to analysts’ expectations of $294.30 million. During the same quarter in the prior year, the business posted $1.01 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 7th will be paid a $0.60 dividend. The ex-dividend date is Thursday, September 6th. This represents a $2.40 annualized dividend and a dividend yield of 1.50%.
In other news, VP Douglas A. Fell sold 500 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $154.90, for a total value of $77,450.00. Following the completion of the transaction, the vice president now owns 12,215 shares of the company’s stock, valued at $1,892,103.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 31.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in LANC. Fort L.P. acquired a new stake in shares of Lancaster Colony in the second quarter valued at $123,000. Boston Advisors LLC acquired a new stake in shares of Lancaster Colony in the second quarter valued at $208,000. Xact Kapitalforvaltning AB lifted its holdings in shares of Lancaster Colony by 28.2% in the first quarter. Xact Kapitalforvaltning AB now owns 2,272 shares of the company’s stock valued at $280,000 after buying an additional 500 shares during the period. Stevens Capital Management LP acquired a new stake in shares of Lancaster Colony in the first quarter valued at $400,000. Finally, Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Lancaster Colony by 56.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 3,988 shares of the company’s stock valued at $491,000 after buying an additional 1,436 shares during the period. Institutional investors and hedge funds own 53.59% of the company’s stock.
Lancaster Colony Company Profile (NASDAQ:LANC)
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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