Stephens Raises Lancaster Colony (NASDAQ:LANC) Price Target to $200.00

Lancaster Colony (NASDAQ:LANC) had its price objective boosted by Stephens from $196.00 to $200.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts have also issued research reports about the stock. Loop Capital dropped their price objective on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th.

Lancaster Colony Stock Up 0.6 %

Shares of NASDAQ:LANC opened at $188.71 on Wednesday. The company has a market cap of $5.20 billion, a P/E ratio of 32.65 and a beta of 0.35. The business has a fifty day simple moving average of $177.58 and a 200-day simple moving average of $180.92. Lancaster Colony has a 52 week low of $163.20 and a 52 week high of $209.81.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $2.22 EPS for the quarter, topping the consensus estimate of $1.94 by $0.28. The company had revenue of $509.30 million during the quarter, compared to analyst estimates of $495.43 million. Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.87 earnings per share. Sell-side analysts expect that Lancaster Colony will post 6.7 earnings per share for the current fiscal year.

Institutional Trading of Lancaster Colony

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new position in shares of Lancaster Colony in the third quarter valued at $27,000. Eagle Bay Advisors LLC acquired a new position in shares of Lancaster Colony in the 4th quarter worth $38,000. GAMMA Investing LLC raised its position in shares of Lancaster Colony by 56.4% during the fourth quarter. GAMMA Investing LLC now owns 280 shares of the company’s stock worth $48,000 after purchasing an additional 101 shares during the period. KBC Group NV lifted its holdings in shares of Lancaster Colony by 80.4% during the fourth quarter. KBC Group NV now owns 893 shares of the company’s stock valued at $155,000 after purchasing an additional 398 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Lancaster Colony by 62.1% in the 4th quarter. Blue Trust Inc. now owns 932 shares of the company’s stock valued at $165,000 after purchasing an additional 357 shares during the period. 66.44% of the stock is currently owned by institutional investors.

About Lancaster Colony

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.