Alberta Investment Management Corp Has $3.77 Million Stock Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Alberta Investment Management Corp boosted its stake in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 36.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,800 shares of the company's stock after purchasing an additional 5,800 shares during the quarter. Alberta Investment Management Corp owned 0.08% of Lancaster Colony worth $3,774,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LANC. Raymond James & Associates raised its stake in shares of Lancaster Colony by 31.9% in the 3rd quarter. Raymond James & Associates now owns 29,303 shares of the company's stock valued at $5,174,000 after buying an additional 7,089 shares in the last quarter. Pullen Investment Management LLC raised its stake in shares of Lancaster Colony by 10.4% in the 3rd quarter. Pullen Investment Management LLC now owns 4,216 shares of the company's stock valued at $744,000 after buying an additional 398 shares in the last quarter. Tributary Capital Management LLC raised its stake in shares of Lancaster Colony by 13.3% in the 3rd quarter. Tributary Capital Management LLC now owns 3,034 shares of the company's stock valued at $536,000 after buying an additional 357 shares in the last quarter. Bernzott Capital Advisors raised its stake in shares of Lancaster Colony by 24.0% in the 3rd quarter. Bernzott Capital Advisors now owns 43,842 shares of the company's stock valued at $7,741,000 after buying an additional 8,482 shares in the last quarter. Finally, Solidarity Wealth LLC raised its stake in shares of Lancaster Colony by 4.9% in the 3rd quarter. Solidarity Wealth LLC now owns 30,658 shares of the company's stock valued at $5,413,000 after buying an additional 1,437 shares in the last quarter. Institutional investors and hedge funds own 66.44% of the company's stock.

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Lancaster Colony Stock Down 0.2 %

NASDAQ:LANC traded down $0.34 during mid-day trading on Monday, reaching $194.47. 143,595 shares of the company were exchanged, compared to its average volume of 151,917. Lancaster Colony Co. has a 12 month low of $163.20 and a 12 month high of $209.81. The company has a fifty day moving average of $178.13 and a 200 day moving average of $181.00. The stock has a market cap of $5.36 billion, a PE ratio of 34.18 and a beta of 0.35.

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

Lancaster Colony Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, March 7th. Lancaster Colony's dividend payout ratio is currently 66.78%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research firms have recently weighed in on LANC. StockNews.com raised shares of Lancaster Colony from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. Benchmark reaffirmed a "hold" rating on shares of Lancaster Colony in a report on Tuesday, November 19th. DA Davidson upped their target price on shares of Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Stephens upped their target price on shares of Lancaster Colony from $196.00 to $200.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Finally, Loop Capital lowered their target price on shares of Lancaster Colony from $232.00 to $227.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $211.33.

About Lancaster Colony

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.