Lancaster Colony (NASDAQ:LANC) Releases Earnings Results, Beats Expectations By $0.28 EPS

Lancaster Colony (NASDAQ:LANC) posted its quarterly earnings data on Tuesday. The company reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.28, Zacks reports. Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%.

Lancaster Colony Price Performance

LANC opened at $180.21 on Tuesday. The company has a market capitalization of $4.97 billion, a P/E ratio of 31.18 and a beta of 0.35. The firm’s fifty day moving average price is $178.08 and its two-hundred day moving average price is $181.01. Lancaster Colony has a fifty-two week low of $163.20 and a fifty-two week high of $209.81.

Lancaster Colony Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, December 5th. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.90. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.11%. Lancaster Colony’s payout ratio is currently 65.74%.

Wall Street Analyst Weigh In

LANC has been the subject of a number of recent analyst reports. Benchmark restated a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th. Loop Capital lowered their target price on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Stephens reiterated an “equal weight” rating and set a $196.00 price target on shares of Lancaster Colony in a report on Tuesday, November 19th.

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.