BidaskClub downgraded shares of Lancaster Colony (NASDAQ:LANC) from a sell rating to a strong sell rating in a research report sent to investors on Saturday.

Separately, Zacks Investment Research upgraded Lancaster Colony from a sell rating to a hold rating in a research report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Lancaster Colony presently has a consensus rating of Buy and an average price target of $154.67.

Lancaster Colony (NASDAQ:LANC) opened at $128.43 on Friday. Lancaster Colony has a 52-week low of $113.33 and a 52-week high of $149.30. The company has a market capitalization of $3,520.00, a PE ratio of 31.71 and a beta of 1.06.

Lancaster Colony (NASDAQ:LANC) last posted its earnings results on Thursday, October 26th. The company reported $1.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.04). Lancaster Colony had a return on equity of 21.50% and a net margin of 9.20%. The business had revenue of $298.92 million for the quarter, compared to analysts’ expectations of $298.75 million. During the same quarter in the previous year, the firm earned $1.22 earnings per share. Lancaster Colony’s quarterly revenue was up 2.6% compared to the same quarter last year. analysts forecast that Lancaster Colony will post 4.62 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 8th were issued a $0.60 dividend. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Thursday, December 7th. Lancaster Colony’s dividend payout ratio is presently 59.26%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Lancaster Colony by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,887,011 shares of the company’s stock worth $231,385,000 after purchasing an additional 11,486 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Lancaster Colony by 29.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 944,727 shares of the company’s stock worth $113,481,000 after purchasing an additional 214,154 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Lancaster Colony by 23.0% in the 2nd quarter. Renaissance Technologies LLC now owns 750,762 shares of the company’s stock worth $92,058,000 after purchasing an additional 140,262 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Lancaster Colony by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 499,259 shares of the company’s stock worth $59,971,000 after purchasing an additional 3,687 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Lancaster Colony by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 419,791 shares of the company’s stock worth $50,425,000 after purchasing an additional 16,908 shares in the last quarter. Hedge funds and other institutional investors own 51.26% of the company’s stock.

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Lancaster Colony Company Profile

Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar.

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