Lancaster Colony Corp. (LANC) Short Interest Update
Lancaster Colony Corp. (NASDAQ:LANC) was the target of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 470,689 shares, a drop of 37.6% from the January 31st total of 754,449 shares. Based on an average daily volume of 118,235 shares, the short-interest ratio is currently 4.0 days. Approximately 2.6% of the company’s shares are short sold.
Shares of Lancaster Colony (NASDAQ:LANC) opened at $119.72 on Friday. The stock has a market capitalization of $3,330.00, a P/E ratio of 30.16 and a beta of 1.05. Lancaster Colony has a one year low of $113.33 and a one year high of $135.86.
Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings data on Thursday, January 25th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.18). Lancaster Colony had a net margin of 9.84% and a return on equity of 19.65%. The company had revenue of $319.70 million during the quarter, compared to the consensus estimate of $335.10 million. During the same period in the previous year, the business earned $1.42 earnings per share. Lancaster Colony’s revenue for the quarter was down 2.2% on a year-over-year basis. equities analysts predict that Lancaster Colony will post 4.4 EPS for the current year.
Several research firms have recently issued reports on LANC. Zacks Investment Research lowered Lancaster Colony from a “hold” rating to a “strong sell” rating in a research note on Friday, February 16th. BidaskClub lowered Lancaster Colony from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 6th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $153.00.
Several hedge funds and other institutional investors have recently modified their holdings of LANC. Public Employees Retirement System of Ohio raised its holdings in shares of Lancaster Colony by 0.4% in the second quarter. Public Employees Retirement System of Ohio now owns 17,323 shares of the company’s stock worth $2,124,000 after buying an additional 69 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of Lancaster Colony in the third quarter worth approximately $243,000. Principal Financial Group Inc. raised its holdings in shares of Lancaster Colony by 1.6% in the third quarter. Principal Financial Group Inc. now owns 83,544 shares of the company’s stock worth $10,035,000 after buying an additional 1,282 shares during the period. Bessemer Group Inc. raised its holdings in shares of Lancaster Colony by 2.7% in the third quarter. Bessemer Group Inc. now owns 19,300 shares of the company’s stock worth $2,318,000 after buying an additional 500 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Lancaster Colony in the third quarter worth approximately $151,000. Hedge funds and other institutional investors own 51.25% of the company’s stock.
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About Lancaster Colony
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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