Lancaster Colony’s (LANC) Hold Rating Reaffirmed at Benchmark

Lancaster Colony (NASDAQ:LANC)‘s stock had its “hold” rating reiterated by stock analysts at Benchmark in a report issued on Friday, Benzinga reports.

Several other research analysts have also issued reports on the stock. Loop Capital cut their target price on shares of Lancaster Colony from $236.00 to $232.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Stephens cut their target price on shares of Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd. Finally, StockNews.com lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $195.75.

Lancaster Colony Stock Performance

Lancaster Colony stock opened at $177.53 on Friday. Lancaster Colony has a fifty-two week low of $158.88 and a fifty-two week high of $215.31. The firm’s fifty day moving average price is $186.10 and its 200-day moving average price is $191.57. The stock has a market cap of $4.89 billion, a P/E ratio of 36.83 and a beta of 0.37.

Insider Buying and Selling at Lancaster Colony

In other Lancaster Colony news, Director Elliot K. Fullen purchased 3,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was acquired at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the completion of the transaction, the director now directly owns 5,298 shares in the company, valued at approximately $895,362. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 29.60% of the company’s stock.

Institutional Trading of Lancaster Colony

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in Lancaster Colony during the 2nd quarter valued at about $1,528,000. Capstone Investment Advisors LLC purchased a new position in shares of Lancaster Colony during the first quarter valued at approximately $864,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Lancaster Colony during the first quarter valued at approximately $868,000. Foguth Wealth Management LLC. purchased a new stake in Lancaster Colony in the first quarter worth $862,000. Finally, Leeward Investments LLC MA boosted its holdings in Lancaster Colony by 5.6% in the second quarter. Leeward Investments LLC MA now owns 51,981 shares of the company’s stock valued at $9,823,000 after acquiring an additional 2,771 shares in the last quarter. 66.44% of the stock is currently owned by hedge funds and other 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.