Point72 Asset Management L.P. Acquires 2,942 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Point72 Asset Management L.P. lifted its holdings in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 37.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,800 shares of the company's stock after buying an additional 2,942 shares during the period. Point72 Asset Management L.P.'s holdings in Lancaster Colony were worth $1,907,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Blair William & Co. IL raised its stake in shares of Lancaster Colony by 2,386.6% in the second quarter. Blair William & Co. IL now owns 172,075 shares of the company's stock worth $32,517,000 after purchasing an additional 165,155 shares during the last quarter. Wesbanco Bank Inc. lifted its position in Lancaster Colony by 4,189.1% during the 3rd quarter. Wesbanco Bank Inc. now owns 163,800 shares of the company's stock worth $28,922,000 after acquiring an additional 159,981 shares during the period. F M Investments LLC purchased a new stake in Lancaster Colony in the 2nd quarter worth approximately $7,997,000. Millennium Management LLC increased its holdings in Lancaster Colony by 1,055.2% in the 2nd quarter. Millennium Management LLC now owns 36,090 shares of the company's stock worth $6,820,000 after acquiring an additional 32,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Lancaster Colony by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 520,335 shares of the company's stock worth $98,326,000 after acquiring an additional 25,072 shares during the last quarter. Hedge funds and other institutional investors own 66.44% of the company's stock.

Lancaster Colony Stock Up 2.3 %

Shares of NASDAQ:LANC traded up $4.21 on Tuesday, reaching $183.94. The company had a trading volume of 109,041 shares, compared to its average volume of 130,306. The stock has a market capitalization of $5.07 billion, a P/E ratio of 31.82 and a beta of 0.35. Lancaster Colony Co. has a twelve month low of $161.54 and a twelve month high of $215.31. The stock has a 50-day moving average price of $182.76 and a 200 day moving average price of $183.95.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.08). The firm had revenue of $466.56 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.70 EPS. 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 disclosed 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. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.07%. This is an increase from Lancaster Colony's previous quarterly dividend of $0.90. The ex-dividend date is Thursday, December 5th. Lancaster Colony's dividend payout ratio is currently 65.74%.

Analysts Set New Price Targets

Several research firms have issued reports on LANC. Stephens restated an "equal weight" rating and issued a $196.00 price objective on shares of Lancaster Colony in a research note on Tuesday, November 19th. StockNews.com cut Lancaster Colony from a "buy" rating to a "hold" rating in a report on Friday, August 23rd. Benchmark reissued a "hold" rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. Finally, Loop Capital decreased their price target 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.