Cerity Partners LLC Boosts Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Cerity Partners LLC increased its holdings in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 12.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,397 shares of the company's stock after acquiring an additional 2,824 shares during the period. Cerity Partners LLC owned about 0.09% of Lancaster Colony worth $4,445,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Wellington Management Group LLP raised its stake in shares of Lancaster Colony by 243.2% during the 3rd quarter. Wellington Management Group LLP now owns 83,630 shares of the company's stock worth $14,767,000 after purchasing an additional 59,261 shares during the period. MML Investors Services LLC boosted its stake in Lancaster Colony by 9.0% in the third quarter. MML Investors Services LLC now owns 15,750 shares of the company's stock valued at $2,781,000 after acquiring an additional 1,307 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Lancaster Colony by 5.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 9,914 shares of the company's stock valued at $1,751,000 after acquiring an additional 549 shares during the period. Barclays PLC increased its stake in shares of Lancaster Colony by 125.5% during the 3rd quarter. Barclays PLC now owns 44,189 shares of the company's stock worth $7,803,000 after purchasing an additional 24,589 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Lancaster Colony by 2.7% in the third quarter. Geode Capital Management LLC now owns 556,223 shares of the company's stock valued at $98,227,000 after purchasing an additional 14,864 shares during the last quarter. 66.44% of the stock is currently owned by institutional investors.

Insider Activity at Lancaster Colony

In other Lancaster Colony news, CEO David Alan Ciesinski sold 17,000 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 54,644 shares of the company's stock, valued at $10,447,386.36. The trade was a 23.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 29.50% of the stock is owned by corporate insiders.

Lancaster Colony Stock Up 3.2 %

Shares of NASDAQ:LANC traded up $5.93 during midday trading on Friday, reaching $189.03. 178,905 shares of the company traded hands, compared to its average volume of 138,289. Lancaster Colony Co. has a 12 month low of $163.20 and a 12 month high of $202.63. The firm's fifty day moving average price is $183.95 and its two-hundred day moving average price is $181.36. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 33.22 and a beta of 0.38.

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

Lancaster Colony Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a $0.95 dividend. The ex-dividend date was Friday, March 7th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.01%. Lancaster Colony's dividend payout ratio (DPR) is presently 66.78%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on LANC shares. DA Davidson raised their target price on Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. StockNews.com upgraded Lancaster Colony from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Finally, Stephens lifted their target price 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 analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $211.33.

Lancaster Colony 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.