Rochester,NY 8/26/2009 12:44:01 AM
Lancaster Colony Corp. LANC, Up Ahead Of 4Q Results; Co Backs Dividend
Lancaster Colony Corp.
Shares of Lancaster Colony Corp. (LANC) gained as much as 5.5% on strong volume Wednesday, a day before the specialty food company's fiscal fourth-quarter results are due, as it also maintained its cash dividend.
Investors were grabbing shares of the company as many are looking for more defensive names such as Lancaster, which fits the bill because of its strong food segment. The company makes private label products such as salad dressings, sauces, noodles and baked goods.
Little-known vendors have been poised to profit as cost-conscious consumers have reached for the cheapest alternatives on grocery-store shelves. Experts have also noted if consumers stay loyal to private labels as the economy improves, store-brand manufacturers may come out of the recession stronger.
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