Algert Global LLC Cuts Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Algert Global LLC trimmed its position in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 68.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,641 shares of the company's stock after selling 19,105 shares during the quarter. Algert Global LLC's holdings in Lancaster Colony were worth $1,526,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its position in Lancaster Colony by 28.4% during the 3rd quarter. Cerity Partners LLC now owns 22,573 shares of the company's stock worth $3,986,000 after purchasing an additional 4,988 shares during the period. Citigroup Inc. grew its holdings in Lancaster Colony by 174.5% during the third quarter. Citigroup Inc. now owns 20,700 shares of the company's stock worth $3,655,000 after acquiring an additional 13,160 shares during the period. Landscape Capital Management L.L.C. purchased a new position in Lancaster Colony in the third quarter worth $3,853,000. Intech Investment Management LLC grew its stake in shares of Lancaster Colony by 33.4% during the 3rd quarter. Intech Investment Management LLC now owns 7,212 shares of the company's stock worth $1,273,000 after purchasing an additional 1,807 shares during the period. Finally, Anthracite Investment Company Inc. acquired a new position in Lancaster Colony during the third quarter worth about $1,204,000. 66.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LANC has been the topic of a number of research reports. Loop Capital lowered their price target on Lancaster Colony from $232.00 to $227.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Benchmark restated a "hold" rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. StockNews.com cut shares of Lancaster Colony from a "buy" rating to a "hold" rating in a research note on Friday, August 23rd. Finally, Stephens reaffirmed an "equal weight" rating and issued a $196.00 target price on shares of Lancaster Colony in a research note on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $202.67.

Lancaster Colony Trading Down 0.1 %

Shares of Lancaster Colony stock traded down $0.21 during mid-day trading on Friday, hitting $185.84. 79,092 shares of the stock were exchanged, compared to its average volume of 131,099. The company has a 50-day simple moving average of $182.06 and a 200 day simple moving average of $184.33. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 32.15 and a beta of 0.35. Lancaster Colony Co. has a twelve month low of $161.54 and a twelve month high of $215.31.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $1.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.70 by ($0.08). Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The firm had revenue of $466.56 million for the quarter, compared to analyst estimates of $468.36 million. During the same quarter last year, the business posted $1.70 EPS. The firm's revenue was up 1.1% compared to the same quarter last year. Equities research analysts forecast that Lancaster Colony Co. will post 6.72 earnings per share for the current fiscal year.

Lancaster Colony Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, December 5th will be paid a $0.95 dividend. This is a positive change from Lancaster Colony's previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a yield of 2.04%. The ex-dividend date is Thursday, December 5th. Lancaster Colony's dividend payout ratio is presently 65.74%.

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.