Charles Schwab Investment Management Inc. Sells 6,175 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Charles Schwab Investment Management Inc. lowered its position in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 2.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 280,831 shares of the company's stock after selling 6,175 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.02% of Lancaster Colony worth $49,586,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in shares of Lancaster Colony during the 3rd quarter worth approximately $27,000. Opal Wealth Advisors LLC purchased a new stake in Lancaster Colony in the 2nd quarter valued at $28,000. GAMMA Investing LLC raised its holdings in shares of Lancaster Colony by 115.9% during the 2nd quarter. GAMMA Investing LLC now owns 177 shares of the company's stock worth $33,000 after acquiring an additional 95 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Lancaster Colony during the 2nd quarter valued at about $38,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Lancaster Colony in the second quarter valued at about $74,000. 66.44% of the stock is owned by institutional investors and hedge funds.

Lancaster Colony Trading Down 0.1 %

LANC traded down $0.21 during trading hours on Friday, hitting $185.84. 79,092 shares of the company's stock were exchanged, compared to its average volume of 143,044. The firm has a market cap of $5.12 billion, a P/E ratio of 32.15 and a beta of 0.35. Lancaster Colony Co. has a 12-month low of $161.54 and a 12-month high of $215.31. The firm has a 50 day moving average of $182.06 and a 200 day moving average of $184.26.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.62 earnings per share for the quarter, missing the consensus estimate 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 period in the prior year, the company earned $1.70 earnings per share. The firm's quarterly revenue was up 1.1% on a year-over-year basis. As a group, research analysts expect that Lancaster Colony Co. will post 6.72 EPS 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 issued a dividend of $0.95 per share. 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. This represents a $3.80 annualized dividend and a yield of 2.04%. Lancaster Colony's dividend payout ratio is presently 62.28%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LANC. Loop Capital dropped their price target on shares of Lancaster Colony from $232.00 to $227.00 and set a "buy" rating for the company in a research note on Friday, November 1st. StockNews.com cut Lancaster Colony from a "buy" rating to a "hold" rating in a research note on Friday, August 23rd. Stephens reiterated an "equal weight" rating and set a $196.00 price target on shares of Lancaster Colony in a report on Tuesday, November 19th. Finally, Benchmark restated a "hold" rating on shares of Lancaster Colony in a report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $202.67.

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.