Charles Schwab Investment Management Inc. Increases Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Charles Schwab Investment Management Inc. raised its stake in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 285,999 shares of the company's stock after purchasing an additional 5,168 shares during the period. Charles Schwab Investment Management Inc. owned 1.04% of Lancaster Colony worth $49,518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LANC. Quantinno Capital Management LP raised its position in shares of Lancaster Colony by 0.5% during the third quarter. Quantinno Capital Management LP now owns 12,568 shares of the company's stock worth $2,219,000 after acquiring an additional 67 shares during the last quarter. Principal Securities Inc. increased its position in Lancaster Colony by 5.6% during the 4th quarter. Principal Securities Inc. now owns 1,280 shares of the company's stock valued at $222,000 after purchasing an additional 68 shares during the period. Atria Investments Inc raised its holdings in Lancaster Colony by 2.5% during the 3rd quarter. Atria Investments Inc now owns 4,060 shares of the company's stock worth $717,000 after purchasing an additional 98 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Lancaster Colony by 0.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 11,687 shares of the company's stock worth $2,023,000 after purchasing an additional 98 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Lancaster Colony by 1.9% in the 4th quarter. Louisiana State Employees Retirement System now owns 5,400 shares of the company's stock valued at $935,000 after purchasing an additional 100 shares during the last quarter. 66.44% of the stock is owned by institutional investors and hedge funds.

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Lancaster Colony Stock Up 1.8 %

LANC traded up $3.19 on Monday, hitting $183.21. The company's stock had a trading volume of 165,678 shares, compared to its average volume of 127,081. The company's 50 day simple moving average is $181.15 and its 200-day simple moving average is $181.17. Lancaster Colony Co. has a 12 month low of $163.20 and a 12 month high of $209.08. The firm has a market cap of $5.05 billion, a P/E ratio of 32.20 and a beta of 0.31.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last issued its quarterly earnings data 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. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The business had revenue of $509.30 million for the quarter, compared to analysts' expectations of $495.43 million. During the same quarter in the prior year, the firm posted $1.87 EPS. The firm's quarterly revenue was up 4.8% on a year-over-year basis. Equities analysts predict that Lancaster Colony Co. will post 6.8 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.95 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.80 dividend on an annualized basis and a yield of 2.07%. Lancaster Colony's dividend payout ratio is currently 66.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. DA Davidson increased their price target on Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Benchmark restated a "hold" rating on shares of Lancaster Colony in a report on Tuesday, November 19th. Stephens lifted their price target on shares of Lancaster Colony from $196.00 to $200.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Finally, StockNews.com raised shares of Lancaster Colony from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $211.33.

Insider Buying and Selling

In other Lancaster Colony news, CEO David Alan Ciesinski sold 17,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $191.19, for a total transaction 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 trade represents a 23.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 29.50% of the stock is owned by company insiders.

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.