Cibc World Markets Corp Takes Position in Lancaster Colony Co. (NASDAQ:LANC)

Cibc World Markets Corp purchased a new position in Lancaster Colony Co. (NASDAQ:LANC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,830 shares of the company's stock, valued at approximately $317,000.

Other hedge funds also recently made changes to their positions in the company. Eagle Bay Advisors LLC bought a new stake in Lancaster Colony during the 4th quarter worth approximately $38,000. GAMMA Investing LLC increased its holdings in shares of Lancaster Colony by 56.4% in the fourth quarter. GAMMA Investing LLC now owns 280 shares of the company's stock worth $48,000 after purchasing an additional 101 shares during the period. Farther Finance Advisors LLC raised its position in shares of Lancaster Colony by 1,078.9% in the fourth quarter. Farther Finance Advisors LLC now owns 448 shares of the company's stock worth $78,000 after buying an additional 410 shares in the last quarter. KBC Group NV raised its position in shares of Lancaster Colony by 80.4% in the fourth quarter. KBC Group NV now owns 893 shares of the company's stock worth $155,000 after buying an additional 398 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Lancaster Colony by 62.1% during the fourth quarter. Blue Trust Inc. now owns 932 shares of the company's stock valued at $165,000 after buying an additional 357 shares during the period. 66.44% of the stock is currently owned by hedge funds and other institutional investors.

Lancaster Colony Price Performance

LANC stock traded down $1.65 during mid-day trading on Friday, hitting $174.79. 106,714 shares of the stock were exchanged, compared to its average volume of 133,906. The business has a fifty day moving average price of $182.72 and a 200 day moving average price of $181.29. Lancaster Colony Co. has a 12 month low of $163.20 and a 12 month high of $209.08. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 30.72 and a beta of 0.31.

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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 return on equity of 19.51% and a net margin of 8.26%. The company had revenue of $509.30 million during the quarter, compared to the consensus estimate of $495.43 million. During the same quarter in the previous year, the company posted $1.87 EPS. Lancaster Colony's quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts forecast that Lancaster Colony Co. will post 6.8 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.17%. Lancaster Colony's dividend payout ratio (DPR) is 66.78%.

Insider Activity at Lancaster Colony

In other Lancaster Colony news, CEO David Alan Ciesinski sold 17,000 shares of Lancaster Colony 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 transaction, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 29.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. StockNews.com raised Lancaster Colony from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. Stephens raised their target price 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, 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 report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Lancaster Colony has a consensus rating of "Hold" and an average 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.