Geode Capital Management LLC Grows Position in Lancaster Colony Co. (NASDAQ:LANC)

Geode Capital Management LLC boosted its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 1.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 561,913 shares of the company's stock after purchasing an additional 5,690 shares during the period. Geode Capital Management LLC owned approximately 2.04% of Lancaster Colony worth $97,308,000 as of its most recent filing with the SEC.

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

Lancaster Colony Stock Performance

LANC stock traded down $2.88 during midday trading on Tuesday, hitting $184.11. 12,257 shares of the stock were exchanged, compared to its average volume of 137,965. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of 32.36 and a beta of 0.38. Lancaster Colony Co. has a fifty-two week low of $163.20 and a fifty-two week high of $202.63. The stock's 50-day moving average price is $184.07 and its 200-day moving average price is $181.24.

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

Lancaster Colony Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a dividend of $0.95 per share. The ex-dividend date was Friday, March 7th. This represents a $3.80 annualized dividend and a dividend yield of 2.06%. Lancaster Colony's dividend payout ratio is currently 66.78%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Lancaster Colony

In related news, CEO David Alan Ciesinski sold 17,000 shares of the business'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 of the company's stock, valued at approximately $10,447,386.36. The trade was a 23.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 29.50% of the stock is owned by corporate 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.