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

Benchmark reissued their hold rating on shares of Lancaster Colony (NASDAQ:LANC) in a research note released on Friday morning, Benzinga reports.

Other research analysts also recently issued reports about the company. Loop Capital lowered their price target on Lancaster Colony from $236.00 to $232.00 and set a buy rating on the stock in a report on Monday, August 26th. StockNews.com cut shares of Lancaster Colony from a buy rating to a hold rating in a research note on Friday, August 23rd. Finally, Stephens reduced their price target on shares of Lancaster Colony from $205.00 to $200.00 and set an equal weight rating for the company in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $195.75.

Lancaster Colony Trading Up 0.0 %

LANC stock opened at $177.59 on Friday. The stock’s 50 day simple moving average is $185.89 and its 200 day simple moving average is $191.47. Lancaster Colony has a 12-month low of $158.88 and a 12-month high of $215.31. The stock has a market capitalization of $4.89 billion, a PE ratio of 36.84 and a beta of 0.37.

Lancaster Colony Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, September 9th. Lancaster Colony’s payout ratio is 74.69%.

Insider Buying and Selling at Lancaster Colony

In related news, Director Elliot K. Fullen bought 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average cost of $169.00 per share, with a total value of $507,000.00. Following the acquisition, the director now owns 5,298 shares in the company, valued at $895,362. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 29.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lancaster Colony

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LANC. Blair William & Co. IL boosted its position in shares of Lancaster Colony by 2,386.6% in the second quarter. Blair William & Co. IL now owns 172,075 shares of the company’s stock worth $32,517,000 after purchasing an additional 165,155 shares during the period. Vanguard Group Inc. boosted its holdings in Lancaster Colony by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,186,162 shares of the company’s stock worth $453,913,000 after buying an additional 85,658 shares during the period. F M Investments LLC purchased a new stake in Lancaster Colony in the 2nd quarter worth $7,997,000. Millennium Management LLC raised its holdings in Lancaster Colony by 1,055.2% during the second quarter. Millennium Management LLC now owns 36,090 shares of the company’s stock valued at $6,820,000 after acquiring an additional 32,966 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Lancaster Colony by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 520,335 shares of the company’s stock valued at $98,326,000 after acquiring an additional 25,072 shares during the period. 66.44% of the stock is owned by hedge funds and other 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.