Benchmark stock analysts have started to cover stocks of Lancaster Colony (NASDAQ: LANC) in a report released Wednesday, The Fly reports. The company has set a “buy” rating for the action.

Meanwhile, Zacks Investment Research upgraded Lancaster Colony shares from a “strong sell” rating to a “conservation” rating in a report released on Tuesday, October 19.

LANC shares opened at $ 150.90 on Wednesday. The company has a market cap of $ 4.15 billion, a PE ratio of 30.61 and a beta of 0.20. The company’s 50-day simple moving average is $ 164.66. Lancaster Colony has a 12 month low of $ 145.79 and a 12 month high of $ 201.31.

Lancaster Colony (NASDAQ: LANC) last reported its results on Wednesday, November 3. The company reported earnings per share (EPS) of $ 1.11 for the quarter, missing analyst consensus estimates of $ 1.63 per ($ 0.52). The company posted revenue of $ 392.06 million for the quarter, compared to analysts’ estimates of $ 406.80 million. Lancaster Colony recorded a return on equity of 16.23% and a net margin of 9.00%. The company’s revenue increased 12.3% year-on-year. In the same quarter of the previous year, the company posted EPS of $ 1.45.

Several hedge funds and other institutional investors have recently changed their holdings in the company. Vanguard Group Inc. increased its holdings of Lancaster Colony shares by 0.8% in the second quarter. Vanguard Group Inc. now owns 2,064,554 shares of the company valued at $ 399,512,000 after purchasing an additional 15,925 shares in the last quarter. State Street Corp increased its holdings of Lancaster Colony shares by 11.1% in the second quarter. State Street Corp now owns 1,450,404 shares of the company valued at $ 280,668,000 after purchasing an additional 144,832 shares in the last quarter. Silvercrest Asset Management Group LLC increased its holdings of Lancaster Colony shares by 5.0% in the second quarter. Silvercrest Asset Management Group LLC now owns 549,291 shares of the company valued at $ 106,293,000 after purchasing an additional 26,196 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Lancaster Colony by 50.6% in the third quarter. Victory Capital Management Inc. now owns 545,236 shares of the company valued at $ 92,041,000 after purchasing an additional 183,223 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Lancaster Colony by 2.8% in the third quarter. Renaissance Technologies LLC now owns 405,863 shares of the company valued at $ 68,514,000 after purchasing an additional 10,900 shares during the period. Institutional investors and hedge funds hold 57.55% of the company’s shares.

Lancaster Colony Company Profile

Lancaster Colony Corp. is engaged in the manufacture and sale of specialty food products. It operates in the following segments: Retail trade and food services. The Retail and Foodservices segments focus on the manufacture and sale of frozen breads, refrigerated dressings and dips, and shelf-stable dressings and croutons under the New York BRAND Bakery, Sister Schubert’s, Marzetti Frozen Pasta and Flatout brands.

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