Lancaster Colony Corp. (LANC) Reaches New 52-Week High at $137.71
Lancaster Colony Corp. (NASDAQ:LANC) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $137.71 and last traded at $133.60, with a volume of 26,814 shares traded. The stock had previously closed at $133.81.
Several research analysts have recently issued reports on LANC shares. Zacks Investment Research downgraded Lancaster Colony Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 19th. BB&T Corp. downgraded Lancaster Colony Corp. from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. They noted that the move was a valuation call. DA Davidson started coverage on Lancaster Colony Corp. in a research note on Wednesday, April 27th. They set a “neutral” rating and a $115.00 price target for the company. Finally, Wedbush lifted their price target on Lancaster Colony Corp. from $104.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, April 29th.
The firm’s 50-day moving average is $128.66 and its 200 day moving average is $117.25. The stock has a market capitalization of $3.66 billion and a PE ratio of 30.15.
Lancaster Colony Corp. (NASDAQ:LANC) last released its quarterly earnings results on Thursday, August 18th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.09. The business earned $284.50 million during the quarter, compared to the consensus estimate of $291.72 million. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 EPS. On average, analysts expect that Lancaster Colony Corp. will post $4.60 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $2.00 annualized dividend and a dividend yield of 1.49%.
An institutional investor recently raised its position in Lancaster Colony Corp. stock. Dimensional Fund Advisors LP boosted its stake in shares of Lancaster Colony Corp. (NASDAQ:LANC) by 4.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 527,603 shares of the company’s stock after buying an additional 22,600 shares during the period. Dimensional Fund Advisors LP owned 1.93% of Lancaster Colony Corp. worth $60,919,000 as of its most recent SEC filing.
Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice markets. The Company is focused on its specialty foods segment. It manufactures and sells a range of food products, including salad dressings and sauces; fruit glazes, vegetable dips and fruit dips; Greek yogurt vegetable dips and hummus; frozen garlic breads; frozen Parkerhouse style yeast dinner rolls and sweet rolls, as well as biscuits; dry egg noodles; croutons and related products; snack sticks and flatbread wraps and pizza crusts.
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