Lancaster Colony Co. (NASDAQ:LANC) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP cut its holdings in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 26.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,661 shares of the company's stock after selling 4,212 shares during the quarter. ExodusPoint Capital Management LP's holdings in Lancaster Colony were worth $2,019,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LANC. Eagle Bay Advisors LLC bought a new position in shares of Lancaster Colony during the fourth quarter valued at $38,000. GAMMA Investing LLC lifted its stake 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 buying an additional 101 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Lancaster Colony by 1,078.9% during the fourth quarter. Farther Finance Advisors LLC now owns 448 shares of the company's stock valued at $78,000 after buying an additional 410 shares during the last quarter. KBC Group NV increased its position 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. Finally, Blue Trust Inc. raised its stake in shares of Lancaster Colony by 62.1% in the fourth quarter. Blue Trust Inc. now owns 932 shares of the company's stock worth $165,000 after purchasing an additional 357 shares during the last quarter. 66.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LANC has been the topic of a number of research reports. Stephens raised their price target on Lancaster Colony from $196.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. DA Davidson upped their price target 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. Finally, StockNews.com upgraded shares of Lancaster Colony from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Lancaster Colony currently has a consensus rating of "Hold" and an average price target of $211.33.

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Insiders Place Their Bets

In other Lancaster Colony news, CEO David Alan Ciesinski sold 17,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $10,447,386.36. This represents a 23.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 29.50% of the stock is currently owned by insiders.

Lancaster Colony Stock Up 0.4 %

NASDAQ:LANC traded up $0.69 during mid-day trading on Monday, hitting $184.45. 12,207 shares of the stock traded hands, compared to its average volume of 137,975. Lancaster Colony Co. has a 52 week low of $163.20 and a 52 week high of $202.63. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 32.42 and a beta of 0.38. The firm's 50 day moving average is $184.06 and its two-hundred day moving average is $181.18.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.28. The firm had revenue of $509.30 million during 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 was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.87 earnings per share. As a group, research analysts predict that Lancaster Colony Co. will post 6.8 EPS for the current year.

Lancaster Colony Dividend Announcement

The company also recently announced 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 of this dividend was Friday, March 7th. This represents a $3.80 dividend on an annualized basis and a yield of 2.06%. Lancaster Colony's dividend payout ratio is currently 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.