Lancaster Colony (NASDAQ:LANC) Price Target Cut to $227.00 by Analysts at Loop Capital

Lancaster Colony (NASDAQ:LANC) had its price objective lowered by analysts at Loop Capital from $232.00 to $227.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s target price points to a potential upside of 26.08% from the stock’s previous close.

Other analysts have also issued reports about the company. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a report on Friday. Stephens decreased their price target on shares of Lancaster Colony from $200.00 to $196.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, StockNews.com lowered Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $193.50.

Lancaster Colony Trading Up 3.7 %

Lancaster Colony stock traded up $6.44 during mid-day trading on Friday, hitting $180.04. The company had a trading volume of 133,645 shares, compared to its average volume of 129,615. Lancaster Colony has a 12 month low of $161.54 and a 12 month high of $215.31. The stock’s 50 day moving average price is $177.00 and its two-hundred day moving average price is $184.81. The company has a market capitalization of $4.96 billion, a PE ratio of 31.14 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.08). The company had revenue of $466.56 million for the quarter, compared to analysts’ expectations of $468.36 million. Lancaster Colony had a net margin of 8.47% and a return on equity of 19.61%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.70 EPS. Equities research analysts anticipate that Lancaster Colony will post 6.99 EPS for the current year.

Insider Buying and Selling

In other Lancaster Colony news, Director Elliot K. Fullen bought 3,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was purchased at an average cost of $169.00 per share, with a total value of $507,000.00. Following the completion of the purchase, the director now owns 5,298 shares in the company, valued at approximately $895,362. The trade was a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 29.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Lancaster Colony

Institutional investors have recently bought and sold shares of the business. Consolidated Planning Corp lifted its position in shares of Lancaster Colony by 4.5% during the 2nd quarter. Consolidated Planning Corp now owns 1,232 shares of the company’s stock valued at $233,000 after acquiring an additional 53 shares during the period. Asset Management One Co. Ltd. raised 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 worth $442,000 after acquiring an additional 57 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Lancaster Colony by 0.3% in the first quarter. Retirement Systems of Alabama now owns 25,570 shares of the company’s stock worth $5,309,000 after acquiring an additional 67 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its stake in shares of Lancaster Colony by 1.8% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,805 shares of the company’s stock valued at $672,000 after purchasing an additional 67 shares in the last quarter. Finally, AlphaMark Advisors LLC grew its holdings in shares of Lancaster Colony by 5.2% during the 3rd quarter. AlphaMark Advisors LLC now owns 1,686 shares of the company’s stock valued at $298,000 after purchasing an additional 83 shares during the last quarter. Institutional investors and hedge funds 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.