Lancaster Colony (NASDAQ:LANC – Get Free Report) had its price target increased by research analysts at Stephens from $196.00 to $200.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Stephens’ target price would suggest a potential upside of 6.63% from the company’s previous close.
Other analysts have also issued reports about the stock. Benchmark restated a “hold” rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. Loop Capital dropped their price target on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research report on Friday, November 1st.
View Our Latest Stock Analysis on Lancaster Colony
Lancaster Colony Stock Up 0.7 %
Lancaster Colony (NASDAQ:LANC – Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $2.22 earnings per share (EPS) for the quarter, beating 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 net margin of 8.49% and a return on equity of 19.01%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.87 earnings per share. Analysts anticipate that Lancaster Colony will post 6.7 earnings per share for the current year.
Institutional Investors Weigh In On Lancaster Colony
A number of hedge funds have recently bought and sold shares of LANC. V Square Quantitative Management LLC purchased a new stake in Lancaster Colony during the third quarter valued at $27,000. Eagle Bay Advisors LLC bought a new position in Lancaster Colony during the fourth quarter valued at $38,000. GAMMA Investing LLC increased its position in Lancaster Colony by 56.4% during the fourth quarter. GAMMA Investing LLC now owns 280 shares of the company’s stock valued at $48,000 after acquiring an additional 101 shares during the last quarter. KBC Group NV increased its position in 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 acquiring an additional 398 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Lancaster Colony by 62.1% during the fourth quarter. Blue Trust Inc. now owns 932 shares of the company’s stock valued at $165,000 after acquiring an additional 357 shares during the last quarter. Hedge funds and other institutional investors own 66.44% of the company’s stock.
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.
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