Lancaster Colony (LANC) Declares $0.90 Dividend
Lancaster Colony said on February 14, 2024 that its board of directors declared a regular quarterly dividend of $0.90 per share ($3.60 annualized). Previously, the company paid $0.90 per share.
Shares must be purchased before the ex-div date of March 6, 2024 to qualify for the dividend. Shareholders of record as of March 7, 2024 will receive the payment on March 29, 2024.
At the current share price of $192.89 / share, the stock's dividend yield is 1.87%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.83%, the lowest has been 1.52%, and the highest has been 2.68%. The standard deviation of yields is 0.22 (n=234).
The current dividend yield is 0.16 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.77. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is 0.20%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 673 funds or institutions reporting positions in Lancaster Colony. This is an increase of 14 owner(s) or 2.12% in the last quarter. Average portfolio weight of all funds dedicated to LANC is 0.19%, an increase of 2.94%. Total shares owned by institutions increased in the last three months by 2.10% to 20,169K shares. 
The put/call ratio of LANC is 0.32, indicating a bullish outlook.
Analyst Price Forecast Suggests 1.21% Upside
As of January 18, 2024, the average one-year price target for Lancaster Colony is 195.23. The forecasts range from a low of 167.66 to a high of $237.30. The average price target represents an increase of 1.21% from its latest reported closing price of 192.89.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Lancaster Colony is 1,945MM, an increase of 4.17%. The projected annual non-GAAP EPS is 7.40.
What are Other Shareholders Doing?
William Blair Investment Management holds 1,382K shares representing 5.02% ownership of the company. In it's prior filing, the firm reported owning 1,308K shares, representing an increase of 5.35%. The firm decreased its portfolio allocation in LANC by 6.71% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 637K shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 601K shares, representing an increase of 5.56%. The firm decreased its portfolio allocation in LANC by 14.83% over the last quarter.
Champlain Investment Partners holds 618K shares representing 2.24% ownership of the company. In it's prior filing, the firm reported owning 651K shares, representing a decrease of 5.45%. The firm decreased its portfolio allocation in LANC by 12.67% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 601K shares representing 2.18% ownership of the company. In it's prior filing, the firm reported owning 601K shares, representing an increase of 0.08%. The firm decreased its portfolio allocation in LANC by 14.75% over the last quarter.
Diamond Hill Capital Management holds 510K shares representing 1.85% ownership of the company. In it's prior filing, the firm reported owning 596K shares, representing a decrease of 16.97%. The firm decreased its portfolio allocation in LANC by 21.72% over the last quarter.
Lancaster Colony Background Information
(This description is provided by the company.)
Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice markets.
Additional reading:
- LANCASTER COLONY REPORTS SECOND QUARTER SALES AND EARNINGS
- LANCASTER COLONY INCREASES REGULAR CASH DIVIDEND; REELECTS THREE INCUMBENT DIRECTORS
- LANCASTER COLONY REPORTS FIRST QUARTER SALES AND EARNINGS
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