Holocene Advisors LP Buys 12,199 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Holocene Advisors LP raised its stake in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 170.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,376 shares of the company's stock after buying an additional 12,199 shares during the period. Holocene Advisors LP owned about 0.07% of Lancaster Colony worth $3,421,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LANC. Blair William & Co. IL grew its position in shares of Lancaster Colony by 2,386.6% during the 2nd quarter. Blair William & Co. IL now owns 172,075 shares of the company's stock worth $32,517,000 after buying an additional 165,155 shares during the period. Wesbanco Bank Inc. grew its holdings in Lancaster Colony by 4,189.1% in the third quarter. Wesbanco Bank Inc. now owns 163,800 shares of the company's stock worth $28,922,000 after purchasing an additional 159,981 shares during the period. F M Investments LLC acquired a new stake in Lancaster Colony in the second quarter worth $7,997,000. Millennium Management LLC increased its stake in Lancaster Colony by 1,055.2% in the second quarter. Millennium Management LLC now owns 36,090 shares of the company's stock valued at $6,820,000 after purchasing an additional 32,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Lancaster Colony by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 520,335 shares of the company's stock worth $98,326,000 after purchasing an additional 25,072 shares in the last quarter. Institutional investors and hedge funds own 66.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Stephens reiterated an "equal weight" rating and issued a $196.00 target price on shares of Lancaster Colony in a report on Tuesday, November 19th. Benchmark reaffirmed a "hold" rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. StockNews.com lowered Lancaster Colony from a "buy" rating to a "hold" rating in a research report on Friday, August 23rd. Finally, Loop Capital cut their price objective on shares of Lancaster Colony from $232.00 to $227.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $202.67.

Lancaster Colony Trading Down 2.4 %

Shares of LANC stock traded down $4.42 during trading on Friday, hitting $179.73. The company's stock had a trading volume of 82,268 shares, compared to its average volume of 130,271. The company has a market cap of $4.96 billion, a PE ratio of 31.10 and a beta of 0.35. The business has a fifty day moving average of $182.60 and a 200-day moving average of $184.13. Lancaster Colony Co. has a 52 week low of $161.54 and a 52 week high of $215.31.

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

Lancaster Colony Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 5th will be given a $0.95 dividend. This is a positive change from Lancaster Colony's previous quarterly dividend of $0.90. The ex-dividend date is Thursday, December 5th. This represents a $3.80 annualized dividend and a yield of 2.11%. Lancaster Colony's payout ratio is currently 62.28%.

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.