KLP Kapitalforvaltning AS Takes Position in Lancaster Colony Co. (NASDAQ:LANC)

KLP Kapitalforvaltning AS acquired a new stake in Lancaster Colony Co. (NASDAQ:LANC - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,000 shares of the company's stock, valued at approximately $693,000.

A number of other institutional investors have also recently added to or reduced their stakes in LANC. Eagle Bay Advisors LLC bought a new stake in shares of Lancaster Colony in the 4th quarter valued at about $38,000. GAMMA Investing LLC lifted its stake in shares of Lancaster Colony by 56.4% in the fourth quarter. GAMMA Investing LLC now owns 280 shares of the company's stock worth $48,000 after acquiring an additional 101 shares during the period. Farther Finance Advisors LLC boosted its holdings in Lancaster Colony by 1,078.9% in the fourth quarter. Farther Finance Advisors LLC now owns 448 shares of the company's stock valued at $78,000 after acquiring an additional 410 shares during the last quarter. KBC Group NV increased its position in Lancaster Colony by 80.4% during the 4th quarter. KBC Group NV now owns 893 shares of the company's stock valued at $155,000 after purchasing an additional 398 shares during the period. Finally, Blue Trust Inc. raised its holdings in Lancaster Colony by 62.1% during the 4th quarter. Blue Trust Inc. now owns 932 shares of the company's stock worth $165,000 after purchasing an additional 357 shares during the last quarter. 66.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. DA Davidson lifted their target price on shares of Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Stephens boosted their price objective on Lancaster Colony from $196.00 to $200.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Finally, StockNews.com raised Lancaster Colony from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $211.33.

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Insider Transactions at Lancaster Colony

In other Lancaster Colony news, CEO David Alan Ciesinski sold 17,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $191.19, for a total value of $3,250,230.00. Following the completion of the sale, the chief executive officer now owns 54,644 shares in the company, valued at approximately $10,447,386.36. This trade represents a 23.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 29.50% of the company's stock.

Lancaster Colony Price Performance

Shares of LANC traded up $1.53 during trading hours on Thursday, hitting $175.07. The stock had a trading volume of 182,552 shares, compared to its average volume of 134,985. Lancaster Colony Co. has a 1-year low of $163.20 and a 1-year high of $206.67. The firm has a market capitalization of $4.83 billion, a P/E ratio of 30.77 and a beta of 0.31. The firm has a 50 day simple moving average of $182.86 and a 200-day simple moving average of $181.26.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $2.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.28. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The company had revenue of $509.30 million for the quarter, compared to analyst estimates of $495.43 million. During the same period in the prior year, the firm earned $1.87 earnings per share. Lancaster Colony's revenue for the quarter was up 4.8% on a year-over-year basis. Equities analysts predict that Lancaster Colony Co. will post 6.8 EPS for the current fiscal year.

Lancaster Colony Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Friday, March 7th. Lancaster Colony's dividend payout ratio is currently 66.78%.

Lancaster Colony Company Profile

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.