Lancaster Colony (NASDAQ:LANC) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Lancaster Colony (NASDAQ:LANC – Get Rating) in a report released on Thursday morning. The brokerage issued a hold rating on the stock.

Lancaster Colony Stock Down 0.1 %

Shares of NASDAQ:LANC traded down $0.16 during midday trading on Thursday, reaching $198.15. The company’s stock had a trading volume of 377,433 shares, compared to its average volume of 120,030. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of 53.55 and a beta of 0.20. Lancaster Colony has a 1 year low of $116.85 and a 1 year high of $214.00. The business has a 50 day moving average price of $192.61 and a 200 day moving average price of $187.50.

Lancaster Colony (NASDAQ:LANC – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.06). The business had revenue of $477.40 million during the quarter, compared to analysts’ expectations of $474.98 million. Lancaster Colony had a net margin of 5.81% and a return on equity of 14.99%. Lancaster Colony’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 EPS. Sell-side analysts anticipate that Lancaster Colony will post 5.53 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Thursday, March 9th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, March 8th. Lancaster Colony’s payout ratio is currently 91.89%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Equitable Trust Co. boosted its holdings in Lancaster Colony by 4.5% in the fourth quarter. Equitable Trust Co. now owns 1,956 shares of the company’s stock valued at $386,000 after acquiring an additional 84 shares during the last quarter. Truist Financial Corp boosted its holdings in Lancaster Colony by 0.9% in the fourth quarter. Truist Financial Corp now owns 21,986 shares of the company’s stock valued at $4,338,000 after acquiring an additional 191 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Lancaster Colony by 0.6% in the fourth quarter. Alliancebernstein L.P. now owns 44,493 shares of the company’s stock valued at $8,778,000 after acquiring an additional 264 shares during the last quarter. State of Wyoming acquired a new position in Lancaster Colony in the fourth quarter valued at $96,000. Finally, CI Private Wealth LLC acquired a new position in Lancaster Colony in the fourth quarter valued at $8,109,000. Institutional investors and hedge funds own 60.69% of the company’s stock.

Lancaster Colony Company Profile

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Lancaster Colony Corp. engages in the manufacture and sale of specialty food products. It operates through the following segments: Retail and Foodservice. The Retail and Foodservice segments both focus on the manufacture and sale of frozen breads, refrigerated dressings, dips and shelf-stable dressings, and croutons under the brand names New York BRAND Bakery, Sister Schubert’s, Marzetti Frozen Pasta, and Flatout.