Lancaster Colony (LANC) – Investment Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for Lancaster Colony (NASDAQ: LANC):

• 9/6/2024 – Lancaster Colony had its “hold” rating reaffirmed by analysts at Benchmark Co..
• 8/26/2024 – Lancaster Colony had its price target lowered by analysts at Loop Capital from $236.00 to $232.00. They now have a “buy” rating on the stock.
• 8/23/2024 – Lancaster Colony was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 8/23/2024 – Lancaster Colony had its price target lowered by analysts at Stephens from $205.00 to $200.00. They now have an “equal weight” rating on the stock.

Lancaster Colony Stock Performance

NASDAQ:LANC traded up $1.56 on Tuesday, hitting $177.30. The stock had a trading volume of 14,032 shares, compared to its average volume of 129,985. Lancaster Colony Co. has a 1 year low of $159.36 and a 1 year high of $215.31. The firm’s fifty day simple moving average is $185.41 and its two-hundred day simple moving average is $191.21. The stock has a market cap of $4.88 billion, a P/E ratio of 36.78 and a beta of 0.35.

Lancaster Colony Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.03%. The ex-dividend date is Monday, September 9th. Lancaster Colony’s dividend payout ratio (DPR) is 74.69%.

Insiders Place Their Bets

In other Lancaster Colony news, Director Elliot K. Fullen acquired 3,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were acquired at an average cost of $169.00 per share, with a total value of $507,000.00. Following the completion of the acquisition, the director now directly owns 5,298 shares in the company, valued at $895,362. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 29.60% of the company’s stock.

Institutional Investors Weigh In On Lancaster Colony

A number of institutional investors and hedge funds have recently bought and sold shares of LANC. Opal Wealth Advisors LLC purchased a new stake in Lancaster Colony during the 2nd quarter valued at about $28,000. GAMMA Investing LLC increased its stake in shares of Lancaster Colony by 115.9% in the second quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock worth $33,000 after buying an additional 95 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Lancaster Colony during the 2nd quarter valued at $38,000. Brown Brothers Harriman & Co. purchased a new stake in Lancaster Colony during the 4th quarter valued at $67,000. Finally, Clarity Asset Management Inc. purchased a new stake in Lancaster Colony during the 4th quarter valued at $70,000. 66.44% of the stock is owned by hedge funds and other institutional investors.

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.