Lancaster Colony Co. (NASDAQ:LANC) Short Interest Update

Lancaster Colony Co. (NASDAQ:LANC - Get Free Report) saw a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 410,800 shares, a decrease of 8.5% from the December 15th total of 448,800 shares. Based on an average daily trading volume, of 135,100 shares, the days-to-cover ratio is presently 3.0 days. Currently, 2.1% of the company's shares are sold short.

Institutional Trading of Lancaster Colony

A number of large investors have recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Lancaster Colony during the 3rd quarter worth approximately $27,000. Eagle Bay Advisors LLC acquired a new position in shares of Lancaster Colony during the fourth quarter worth $38,000. GAMMA Investing LLC increased its holdings in Lancaster Colony by 56.4% in the fourth quarter. GAMMA Investing LLC now owns 280 shares of the company's stock valued at $48,000 after buying an additional 101 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Lancaster Colony in the second quarter valued at $74,000. Finally, nVerses Capital LLC lifted its holdings in Lancaster Colony by 66.7% during the 3rd quarter. nVerses Capital LLC now owns 1,000 shares of the company's stock worth $177,000 after buying an additional 400 shares during the last quarter. 66.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LANC. Loop Capital reduced their price target 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. Benchmark reissued a "hold" rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. Finally, Stephens restated an "equal weight" rating and set a $196.00 price target on shares of Lancaster Colony in a research report on Tuesday, November 19th.

Lancaster Colony Price Performance

Shares of LANC stock traded up $0.80 during trading on Friday, reaching $171.10. The company's stock had a trading volume of 130,639 shares, compared to its average volume of 114,238. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 29.60 and a beta of 0.36. Lancaster Colony has a 1-year low of $163.20 and a 1-year high of $215.31. The stock's 50-day moving average price is $180.68 and its 200 day moving average price is $182.20.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $466.56 million for the quarter, compared to analysts' expectations of $468.36 million. Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The firm's revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.70 EPS. On average, sell-side analysts anticipate that Lancaster Colony will post 6.7 EPS for the current fiscal year.

Lancaster Colony Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, December 5th. This is a boost from Lancaster Colony's previous quarterly dividend of $0.90. Lancaster Colony's dividend payout ratio (DPR) is presently 65.74%.

Lancaster Colony Company 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.