Canada Pension Plan Investment Board Sells 9,700 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Canada Pension Plan Investment Board reduced its position in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 94.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 600 shares of the company's stock after selling 9,700 shares during the quarter. Canada Pension Plan Investment Board's holdings in Lancaster Colony were worth $104,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in LANC. Eagle Bay Advisors LLC bought a new position in shares of Lancaster Colony during the fourth quarter valued at about $38,000. GAMMA Investing LLC raised its position in Lancaster Colony by 56.4% during the 4th quarter. GAMMA Investing LLC now owns 280 shares of the company's stock valued at $48,000 after purchasing an additional 101 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Lancaster Colony by 1,078.9% in the 4th quarter. Farther Finance Advisors LLC now owns 448 shares of the company's stock worth $78,000 after buying an additional 410 shares during the period. Covestor Ltd grew its position in shares of Lancaster Colony by 48.4% in the 4th quarter. Covestor Ltd now owns 724 shares of the company's stock worth $126,000 after buying an additional 236 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Lancaster Colony by 80.4% during the fourth quarter. KBC Group NV now owns 893 shares of the company's stock valued at $155,000 after acquiring an additional 398 shares in the last quarter. Hedge funds and other institutional investors own 66.44% of the company's stock.

Insider Activity

In related news, CEO David Alan Ciesinski sold 17,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $191.19, for a total value of $3,250,230.00. Following the sale, the chief executive officer now owns 54,644 shares in the company, valued at $10,447,386.36. This represents a 23.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 29.50% of the company's stock.

Analyst Upgrades and Downgrades

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

Lancaster Colony Stock Down 0.1 %

Shares of LANC stock opened at $190.21 on Friday. The business's fifty day moving average is $183.93 and its 200 day moving average is $181.91. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 33.43 and a beta of 0.38. Lancaster Colony Co. has a twelve month low of $163.20 and a twelve month high of $202.63.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last released 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 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 the consensus estimate of $495.43 million. During the same period in the prior year, the firm earned $1.87 EPS. The company's revenue was up 4.8% compared to the same quarter last year. Equities research analysts expect that Lancaster Colony Co. will post 6.8 earnings per share for the current fiscal year.

Lancaster Colony Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Friday, March 7th. Lancaster Colony's dividend payout ratio is 66.78%.

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.

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