Lancaster Colony Co. (NASDAQ:LANC) Stock Holdings Decreased by Bernzott Capital Advisors

Bernzott Capital Advisors reduced its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 9.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,692 shares of the company's stock after selling 4,150 shares during the quarter. Lancaster Colony makes up 3.4% of Bernzott Capital Advisors' investment portfolio, making the stock its 8th largest position. Bernzott Capital Advisors owned approximately 0.14% of Lancaster Colony worth $6,872,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in Lancaster Colony during the 3rd quarter worth $27,000. Eagle Bay Advisors LLC purchased a new position in shares of Lancaster Colony in the fourth quarter valued at $38,000. GAMMA Investing LLC grew its holdings in Lancaster Colony by 56.4% during the 4th quarter. GAMMA Investing LLC now owns 280 shares of the company's stock valued at $48,000 after purchasing an additional 101 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Lancaster Colony during the 2nd quarter worth $74,000. Finally, nVerses Capital LLC grew its stake in shares of Lancaster Colony by 66.7% during the third quarter. nVerses Capital LLC now owns 1,000 shares of the company's stock valued at $177,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 66.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LANC. Benchmark restated a "hold" rating on shares of Lancaster Colony in a research note on Tuesday, November 19th. Loop Capital cut 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 note on Friday, November 1st. Finally, Stephens restated an "equal weight" rating and set a $196.00 price objective on shares of Lancaster Colony in a research note on Tuesday, November 19th.

Lancaster Colony Trading Up 0.5 %

NASDAQ LANC traded up $0.80 during trading hours on Friday, reaching $171.10. The company's stock had a trading volume of 130,639 shares, compared to its average volume of 129,976. Lancaster Colony Co. has a 52 week low of $163.20 and a 52 week high of $215.31. The business has a 50-day simple moving average of $181.20 and a 200 day simple moving average of $182.32. The stock has a market cap of $4.72 billion, a PE ratio of 29.60 and a beta of 0.36.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last issued its quarterly earnings data 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). The firm 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 company's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.70 earnings per share. As a group, equities analysts predict that Lancaster Colony Co. will post 6.7 EPS for the current year.

Lancaster Colony Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, December 5th were given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Thursday, December 5th. This is a positive change from Lancaster Colony's previous quarterly dividend of $0.90. Lancaster Colony's dividend payout ratio is currently 65.74%.

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.