Lancaster Colony (NASDAQ:LANC) Given New $200.00 Price Target at Stephens

Lancaster Colony (NASDAQ:LANC) had its target price raised by Stephens from $196.00 to $200.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms also recently commented on LANC. Benchmark reissued a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th. Loop Capital dropped their price target on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a research note on Friday, November 1st.

Lancaster Colony Price Performance

Shares of Lancaster Colony stock opened at $186.21 on Wednesday. Lancaster Colony has a 1 year low of $163.20 and a 1 year high of $209.81. The company has a 50-day moving average of $177.55 and a 200 day moving average of $180.87. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of 32.22 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last released its earnings results on Tuesday, February 4th. The company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.28. The firm had revenue of $509.30 million during the quarter, compared to analyst estimates of $495.43 million. Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the business earned $1.87 earnings per share. On average, equities analysts anticipate that Lancaster Colony will post 6.7 EPS for the current year.

Hedge Funds Weigh In On Lancaster Colony

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Independence Bank of Kentucky purchased a new position in shares of Lancaster Colony in the fourth quarter worth $630,000. Anthracite Investment Company Inc. bought a new stake in Lancaster Colony in the 3rd quarter worth about $1,204,000. Empowered Funds LLC purchased a new position in Lancaster Colony in the 3rd quarter worth about $2,244,000. Van ECK Associates Corp lifted its stake in Lancaster Colony by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 12,897 shares of the company’s stock valued at $2,271,000 after acquiring an additional 3,686 shares during the period. Finally, Atria Investments Inc boosted its holdings in shares of Lancaster Colony by 2.5% during the 3rd quarter. Atria Investments Inc now owns 4,060 shares of the company’s stock valued at $717,000 after acquiring an additional 98 shares during the last quarter. 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.