Lancaster Colony (NASDAQ:LANC) Given New $200.00 Price Target at Stephens

Lancaster Colony (NASDAQ:LANC) had its price target raised by Stephens from $196.00 to $200.00 in a report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

LANC has been the topic of a number of other research reports. Benchmark restated a “hold” rating on shares of Lancaster Colony in a research note on Tuesday, November 19th. Loop Capital decreased 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 report on Friday, November 1st.

Lancaster Colony Stock Performance

Shares of NASDAQ:LANC opened at $186.21 on Wednesday. The stock’s 50-day simple moving average is $177.55 and its two-hundred day simple moving average is $180.87. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 32.22 and a beta of 0.35. 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 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. Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The company had revenue of $509.30 million during the quarter, compared to analyst estimates of $495.43 million. During the same period in the previous year, the business posted $1.87 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts forecast that Lancaster Colony will post 6.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LANC. Asset Management One Co. Ltd. boosted its stake in Lancaster Colony by 2.3% during the third quarter. Asset Management One Co. Ltd. now owns 2,506 shares of the company’s stock valued at $442,000 after buying an additional 57 shares during the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of Lancaster Colony by 1.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,805 shares of the company’s stock worth $672,000 after acquiring an additional 67 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Lancaster Colony by 0.5% during the 3rd quarter. Quantinno Capital Management LP now owns 12,568 shares of the company’s stock valued at $2,219,000 after acquiring an additional 67 shares during the last quarter. Principal Securities Inc. grew its holdings in shares of Lancaster Colony by 5.6% in the fourth quarter. Principal Securities Inc. now owns 1,280 shares of the company’s stock valued at $222,000 after purchasing an additional 68 shares in the last quarter. Finally, AlphaMark Advisors LLC grew its holdings in shares of Lancaster Colony by 5.2% in the third quarter. AlphaMark Advisors LLC now owns 1,686 shares of the company’s stock valued at $298,000 after purchasing an additional 83 shares in the last quarter. Institutional investors own 66.44% of the company’s stock.

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.