StockNews.com Upgrades Lancaster Colony (NASDAQ:LANC) to "Buy"

Lancaster Colony (NASDAQ:LANC - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Friday.

Separately, Stephens restated an "equal weight" rating and set a $218.00 target price on shares of Lancaster Colony in a research note on Friday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $198.75.

Lancaster Colony Price Performance

Shares of LANC stock traded down $0.50 during mid-day trading on Friday, hitting $191.50. 149,123 shares of the stock traded hands, compared to its average volume of 137,140. Lancaster Colony has a 52-week low of $158.88 and a 52-week high of $220.65. The stock has a market cap of $5.27 billion, a P/E ratio of 40.92 and a beta of 0.39. The stock's fifty day moving average is $199.06 and its two-hundred day moving average is $182.30.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.02. Lancaster Colony had a net margin of 6.92% and a return on equity of 17.37%. The company had revenue of $471.40 million during the quarter, compared to analysts' expectations of $467.90 million. During the same quarter in the prior year, the company posted $0.89 earnings per share. Lancaster Colony's revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, equities analysts forecast that Lancaster Colony will post 6.47 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Kristin Bird sold 1,207 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $192.66, for a total value of $232,540.62. Following the transaction, the insider now directly owns 3,546 shares of the company's stock, valued at $683,172.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 29.60% of the stock is currently owned by company insiders.

Institutional Trading of Lancaster Colony

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Lancaster Colony by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,100,504 shares of the company's stock valued at $349,503,000 after purchasing an additional 19,427 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Lancaster Colony by 12.5% in the third quarter. William Blair Investment Management LLC now owns 1,307,612 shares of the company's stock worth $215,795,000 after buying an additional 145,560 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Lancaster Colony by 10.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 596,321 shares of the company's stock worth $98,411,000 after acquiring an additional 56,787 shares during the period. Dimensional Fund Advisors LP raised its position in Lancaster Colony by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 504,381 shares of the company's stock valued at $83,924,000 after acquiring an additional 11,455 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Lancaster Colony by 26.5% in the fourth quarter. Victory Capital Management Inc. now owns 415,629 shares of the company's stock valued at $69,157,000 after acquiring an additional 86,994 shares during the period. 66.44% of the stock is owned by hedge funds and other institutional investors.

Lancaster Colony Company Profile

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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