Lancaster Colony (NASDAQ:LANC) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of Lancaster Colony (NASDAQ:LANC) from a hold rating to a buy rating in a report issued on Friday morning, BidAskClub reports.

Lancaster Colony stock traded down $0.73 during trading on Friday, hitting $152.86. The company had a trading volume of 60,233 shares, compared to its average volume of 94,534. Lancaster Colony has a 1-year low of $141.01 and a 1-year high of $194.38. The company has a 50 day simple moving average of $149.57. The stock has a market cap of $4.22 billion, a PE ratio of 29.65 and a beta of 0.28.

A number of institutional investors have recently bought and sold shares of LANC. Norges Bank acquired a new stake in Lancaster Colony in the 4th quarter valued at approximately $39,635,000. Robeco Institutional Asset Management B.V. increased its holdings in Lancaster Colony by 26.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 435,532 shares of the company’s stock valued at $68,241,000 after purchasing an additional 91,985 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new stake in Lancaster Colony in the 1st quarter valued at approximately $12,332,000. Ellis Investment Partners LLC acquired a new stake in Lancaster Colony in the 1st quarter valued at approximately $52,000. Finally, Acadian Asset Management LLC increased its holdings in Lancaster Colony by 46.1% in the 1st quarter. Acadian Asset Management LLC now owns 133,054 shares of the company’s stock valued at $20,851,000 after purchasing an additional 41,995 shares during the last quarter. Hedge funds and other institutional investors own 53.82% of the company’s stock.

Lancaster Colony Company Profile

Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates through two segments, Retail and Foodservice. It offers frozen garlic breads under the New York BRAND Bakery brand; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand name; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardini's, and Girard's brands; and vegetable dips and fruit dips under the Marzetti brand.

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