Today’s Price Action: What’s Next for Lancaster Colony Corp. After Reaching 52-Week High?

Today's Price Action: What's Next for Lancaster Colony Corp. After Reaching 52 Week High?

The stock of Lancaster Colony Corp. (NASDAQ:LANC) hit a new 52-week high and has $180.77 target or 31.00% above today’s $137.99 share price. The 7 months bullish chart indicates low risk for the $3.84B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $180.77 price target is reached, the company will be worth $1.19 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 25,497 shares traded hands. Lancaster Colony Corp. (NASDAQ:LANC) has risen 23.68% since April 19, 2016 and is uptrending. It has outperformed by 19.81% the S&P500.

Lancaster Colony Corp. (NASDAQ:LANC) Ratings Coverage

Out of 3 analysts covering Lancaster Colony Corporation (NASDAQ:LANC), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. Lancaster Colony Corporation has been the topic of 8 analyst reports since August 21, 2015 according to StockzIntelligence Inc. The stock of Lancaster Colony Corp. (NASDAQ:LANC) earned “Hold” rating by BB&T Capital on Monday, May 9. The firm has “Neutral” rating given on Friday, November 4 by Longbow. The company was maintained on Friday, April 29 by Wedbush. Wedbush maintained Lancaster Colony Corp. (NASDAQ:LANC) on Friday, January 29 with “Neutral” rating. The firm has “Hold” rating by Zacks given on Monday, August 24. The stock has “Buy” rating given by BB&T Capital on Tuesday, September 1.

According to Zacks Investment Research, “Lancaster Colony Corp. manufactures and markets three families of products: Glassware and Candles; Specialty Foods; and Automotive. Consumer glassware includes a diverse line of decorative and ornamental products such as tumblers, bowls, pitchers, jars and barware. The food products manufactured and sold include salad dressings and sauces; fruit glazes, veggie dips and fruit dips; frozen unbaked pies. It also manufactures and sells a complete line of rubber, vinyl and carpeted car mats both in the aftermarket and to original equipment manufacturers.”

Insitutional Activity: The institutional sentiment decreased to 1.01 in Q2 2016. Its down 0.21, from 1.22 in 2016Q1. The ratio is negative, as 18 funds sold all Lancaster Colony Corp. shares owned while 64 reduced positions. 28 funds bought stakes while 72 increased positions. They now own 13.90 million shares or 4.34% less from 14.53 million shares in 2016Q1.
New York State Common Retirement Fund, a New York-based fund reported 26,488 shares. Prudential has 38,368 shares for 0.01% of their US portfolio. Moreover, Profund Advisors Limited Liability Corp has 0.02% invested in Lancaster Colony Corp. (NASDAQ:LANC) for 2,986 shares. Meeder Asset Mngmt holds 0% of its portfolio in Lancaster Colony Corp. (NASDAQ:LANC) for 51 shares. Shamrock Asset Mngmt Limited Company last reported 0.23% of its portfolio in the stock. State Street accumulated 1.64M shares or 0.02% of the stock. The California-based Blackrock Fund Advisors has invested 0.03% in Lancaster Colony Corp. (NASDAQ:LANC). Atlanta Cap Co L L C last reported 225,085 shares in the company. Teachers accumulated 0.03% or 147,836 shares. Tudor Inv Et Al reported 2,300 shares or 0.01% of all its holdings. Mount Lucas Mngmt Limited Partnership last reported 1,954 shares in the company. Commonwealth Equity Ser Inc last reported 2,837 shares in the company. Rowland & Investment Counsel Adv holds 1,575 shares or 0% of its portfolio. Tower Cap Limited Com (Trc) reported 956 shares or 0.01% of all its holdings. Blackrock Grp Inc Ltd last reported 0% of its portfolio in the stock.

More important recent Lancaster Colony Corp. (NASDAQ:LANC) news were published by: Streetinsider.com which released: “Lancaster Colony Corp. (LANC) Raises Quarterly Dividend 10% to $0.55; Reelects …” on November 21, 2016, also Prnewswire.com published article titled: “Lancaster Colony Acquires Angelic Bakehouse, Inc.”, Marketwatch.com published: “Virtual Stock Exchange” on October 25, 2010. More interesting news about Lancaster Colony Corp. (NASDAQ:LANC) was released by: Prnewswire.com and their article: “Lancaster Colony Acquires Flatout Holdings, Inc.” with publication date: March 13, 2015.

LANC Company Profile

Lancaster Colony Corporation, incorporated on October 11, 1991, is a maker and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar. The Company’s brands include Marzetti, Marzetti Simply Dressed, Cardini’s, Girard’s, Katherine’s Kitchen, New York BRAND Bakery, Mamma Bella, Mamma Bella’s, Sister Schubert’s, Mary B’s, Inn Maid, Amish Kitchen, Reames, Aunt Vi’s, Flatout and Romanoff.

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