Barclays PLC Purchases 24,589 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Barclays PLC increased its stake in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 125.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,189 shares of the company's stock after purchasing an additional 24,589 shares during the quarter. Barclays PLC owned about 0.16% of Lancaster Colony worth $7,803,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in Lancaster Colony during the third quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Lancaster Colony in the second quarter worth $74,000. nVerses Capital LLC purchased a new stake in shares of Lancaster Colony in the second quarter worth $113,000. UMB Bank n.a. boosted its stake in Lancaster Colony by 10.8% during the third quarter. UMB Bank n.a. now owns 1,055 shares of the company's stock valued at $186,000 after buying an additional 103 shares during the period. Finally, Olympiad Research LP purchased a new position in Lancaster Colony during the third quarter worth about $210,000. 66.44% of the stock is currently owned by institutional investors.

Lancaster Colony Trading Down 3.6 %

Shares of NASDAQ:LANC traded down $6.88 during trading on Wednesday, reaching $182.34. 157,067 shares of the company traded hands, compared to its average volume of 130,788. Lancaster Colony Co. has a 52-week low of $161.54 and a 52-week high of $215.31. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 31.55 and a beta of 0.35. The business's fifty day moving average is $184.70 and its 200-day moving average is $184.36.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.08). Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The firm had revenue of $466.56 million for the quarter, compared to analysts' expectations of $468.36 million. During the same period in the previous year, the company earned $1.70 EPS. The company's quarterly revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts predict that Lancaster Colony Co. will post 6.7 earnings per share for the current fiscal year.

Lancaster Colony Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, December 5th. This is a boost from Lancaster Colony's previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a dividend yield of 2.08%. Lancaster Colony's payout ratio is 65.74%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Benchmark reiterated a "hold" rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. Stephens reaffirmed an "equal weight" rating and set a $196.00 price target on shares of Lancaster Colony in a research note on Tuesday, November 19th. StockNews.com cut shares of Lancaster Colony from a "buy" rating to a "hold" rating in a research report on Friday, August 23rd. Finally, Loop Capital lowered their price objective on shares of Lancaster Colony from $232.00 to $227.00 and set a "buy" rating for the company in a report on Friday, November 1st.

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.