GSA Capital Partners LLP Buys 5,540 Shares of Lancaster Colony Co. (NASDAQ:LANC)

GSA Capital Partners LLP increased its position in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 223.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,022 shares of the company's stock after acquiring an additional 5,540 shares during the quarter. GSA Capital Partners LLP's holdings in Lancaster Colony were worth $1,416,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Lancaster Colony in the 2nd quarter worth $1,528,000. Leeward Investments LLC MA grew its position in Lancaster Colony by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 51,981 shares of the company's stock worth $9,823,000 after purchasing an additional 2,771 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in Lancaster Colony in the 2nd quarter worth $658,000. William B. Walkup & Associates Inc. acquired a new stake in Lancaster Colony in the 2nd quarter worth $685,000. Finally, Quest Partners LLC boosted its position in shares of Lancaster Colony by 146,275.0% during the 2nd quarter. Quest Partners LLC now owns 5,855 shares of the company's stock valued at $1,106,000 after acquiring an additional 5,851 shares in the last quarter. Institutional investors own 66.44% of the company's stock.

Lancaster Colony Stock Performance

Shares of NASDAQ LANC traded down $2.35 during trading on Thursday, reaching $185.53. The company had a trading volume of 22,372 shares, compared to its average volume of 130,746. Lancaster Colony Co. has a 52 week low of $161.54 and a 52 week high of $215.31. The stock has a market cap of $5.12 billion, a PE ratio of 32.51 and a beta of 0.35. The business's 50 day moving average price is $180.77 and its 200-day moving average price is $185.06.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $1.62 earnings per share for the quarter, missing analysts' consensus estimates of $1.70 by ($0.08). Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The company had revenue of $466.56 million during the quarter, compared to the consensus estimate of $468.36 million. During the same period in the prior year, the firm posted $1.70 earnings per share. The company's revenue was up 1.1% on a year-over-year basis. Equities analysts anticipate that Lancaster Colony Co. will post 6.72 earnings per share for the current year.

Lancaster Colony Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, December 5th will be issued a $0.95 dividend. This is a positive change from Lancaster Colony's previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a yield of 2.05%. The ex-dividend date is Thursday, December 5th. Lancaster Colony's dividend payout ratio is currently 62.28%.

Insider Activity at Lancaster Colony

In other news, Director Elliot K. Fullen bought 3,000 shares of the business's stock in a transaction on Tuesday, August 27th. The shares were bought at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the completion of the acquisition, the director now owns 5,298 shares in the company, valued at approximately $895,362. This trade represents a 100.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 29.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on LANC. Benchmark reiterated a "hold" rating on shares of Lancaster Colony in a research report on Friday, November 1st. Stephens decreased their target price on shares of Lancaster Colony from $200.00 to $196.00 and set an "equal weight" rating on the stock in a research report on Friday, November 1st. Loop Capital decreased their target price on shares of Lancaster Colony from $232.00 to $227.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Finally, StockNews.com lowered shares of Lancaster Colony from a "buy" rating to a "hold" rating in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $193.50.

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.