Lancaster Colony (NASDAQ:LANC) Posts Earnings Results, Misses Expectations By $0.08 EPS

Lancaster Colony (NASDAQ:LANC) issued its earnings results on Thursday. The company reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.08), Briefing.com reports. Lancaster Colony had a net margin of 8.47% and a return on equity of 19.61%. The firm had revenue of $466.56 million during the quarter, compared to analyst estimates of $468.36 million. During the same period last year, the business earned $1.70 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year.

Lancaster Colony Trading Up 4.0 %

LANC stock traded up $6.87 on Friday, hitting $180.47. The company’s stock had a trading volume of 277,923 shares, compared to its average volume of 130,296. Lancaster Colony has a 1 year low of $161.54 and a 1 year high of $215.31. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 31.39 and a beta of 0.35. The firm has a 50 day moving average of $177.00 and a two-hundred day moving average of $184.81.

Lancaster Colony Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were given a dividend of $0.90 per share. The ex-dividend date was Monday, September 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.99%. Lancaster Colony’s dividend payout ratio (DPR) is presently 62.61%.

Insider Activity

In related news, Director Elliot K. Fullen purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average price of $169.00 per share, for a total transaction of $507,000.00. Following the completion of the purchase, the director now directly owns 5,298 shares of the company’s stock, valued at $895,362. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 29.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LANC shares. StockNews.com cut shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Loop Capital lowered their price objective on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research report on Friday. Stephens cut their target price on Lancaster Colony from $200.00 to $196.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a report on Friday. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Lancaster Colony currently has an average rating of “Hold” and a consensus target price of $193.50.

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.