Benjamin Edwards Inc. Acquires 15,799 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Benjamin Edwards Inc. increased its position in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 958.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,447 shares of the company's stock after acquiring an additional 15,799 shares during the quarter. Benjamin Edwards Inc. owned about 0.06% of Lancaster Colony worth $3,081,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Lancaster Colony during the 2nd quarter worth approximately $1,528,000. Leeward Investments LLC MA raised its holdings in Lancaster Colony by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 51,981 shares of the company's stock worth $9,823,000 after buying an additional 2,771 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in Lancaster Colony during the 2nd quarter worth approximately $658,000. Anthracite Investment Company Inc. acquired a new stake in shares of Lancaster Colony in the third quarter valued at approximately $1,204,000. Finally, Empowered Funds LLC acquired a new stake in shares of Lancaster Colony in the third quarter valued at approximately $2,244,000. Institutional investors own 66.44% of the company's stock.

Lancaster Colony Stock Performance

LANC traded down $0.45 during trading on Thursday, reaching $184.15. 89,488 shares of the stock were exchanged, compared to its average volume of 130,476. The stock's 50 day moving average price is $182.50 and its two-hundred day moving average price is $184.13. Lancaster Colony Co. has a twelve month low of $161.54 and a twelve month high of $215.31. The stock has a market cap of $5.08 billion, a P/E ratio of 31.94 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.62 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 company had revenue of $466.56 million for the quarter, compared to the consensus estimate of $468.36 million. During the same period last year, the firm earned $1.70 earnings per share. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. Equities research analysts predict that Lancaster Colony Co. will post 6.72 earnings per share for the current fiscal year.

Lancaster Colony Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 5th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.06%. This is a boost from Lancaster Colony's previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, December 5th. Lancaster Colony's payout ratio is 62.28%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LANC shares. Loop Capital lowered their price objective 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. StockNews.com downgraded shares of Lancaster Colony from a "buy" rating to a "hold" rating in a report on Friday, August 23rd. Benchmark restated a "hold" rating on shares of Lancaster Colony in a report on Tuesday, November 19th. Finally, Stephens restated an "equal weight" rating and set a $196.00 target price on shares of Lancaster Colony in a report 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, Lancaster Colony has a consensus rating of "Hold" and an average target price of $202.67.

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.