Lancaster Colony Corp. (LANC) Sets New 1-Year High at $137.71
Lancaster Colony Corp. (NASDAQ:LANC)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $137.71 and last traded at $133.60, with a volume of 26,814 shares trading hands. The stock had previously closed at $133.81.
Several equities analysts have recently weighed in on the company. Wedbush reiterated a “hold” rating on shares of Lancaster Colony Corp. in a report on Saturday, April 30th. Zacks Investment Research upgraded Lancaster Colony Corp. from a “hold” rating to a “strong-buy” rating and set a $147.00 price objective on the stock in a report on Wednesday, July 13th. DA Davidson assumed coverage on Lancaster Colony Corp. in a report on Wednesday, April 27th. They set a “neutral” rating and a $115.00 price objective on the stock. Finally, BB&T Corp. cut Lancaster Colony Corp. from a “buy” rating to a “hold” rating in a report on Monday, May 9th. They noted that the move was a valuation call.
The stock has a market cap of $3.66 billion and a price-to-earnings ratio of 30.14. The stock’s 50 day moving average price is $129.01 and its 200 day moving average price is $117.64.
Lancaster Colony Corp. (NASDAQ:LANC) last announced its quarterly earnings results on Thursday, August 18th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.09. The business had revenue of $284.50 million for the quarter, compared to analysts’ expectations of $291.72 million. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 EPS. On average, equities research analysts expect that Lancaster Colony Corp. will post $4.62 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $2.00 dividend on an annualized basis 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 position in Lancaster Colony Corp. (NASDAQ:LANC) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 527,603 shares of the company’s stock after buying an additional 22,600 shares during the period. Dimensional Fund Advisors LP owned approximately 1.93% of Lancaster Colony Corp. worth $60,919,000 at the end of the most recent quarter.
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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