Landscape Capital Management L.L.C. Takes Position in Lancaster Colony Co. (NASDAQ:LANC)

Landscape Capital Management L.L.C. acquired a new stake in Lancaster Colony Co. (NASDAQ:LANC - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,819 shares of the company's stock, valued at approximately $3,853,000. Landscape Capital Management L.L.C. owned 0.08% of Lancaster Colony at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of LANC. Blair William & Co. IL lifted its position in 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 acquiring an additional 165,155 shares in the last quarter. Wesbanco Bank Inc. lifted its position in shares of Lancaster Colony by 4,189.1% during 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 in the last quarter. Vanguard Group Inc. boosted its stake in shares of Lancaster Colony by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,186,162 shares of the company's stock valued at $453,913,000 after purchasing an additional 85,658 shares during the period. F M Investments LLC acquired a new stake in Lancaster Colony during the 2nd quarter valued at $7,997,000. Finally, Millennium Management LLC increased its stake in Lancaster Colony by 1,055.2% during the 2nd quarter. Millennium Management LLC now owns 36,090 shares of the company's stock worth $6,820,000 after buying an additional 32,966 shares during the period. Institutional investors and hedge funds own 66.44% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Loop Capital reduced their price target on Lancaster Colony from $232.00 to $227.00 and set a "buy" rating for the company in a report on Friday, November 1st. Benchmark restated a "hold" rating on shares of Lancaster Colony in a research note on Tuesday. Stephens reissued an "equal weight" rating and set a $196.00 price target on shares of Lancaster Colony in a research report on Tuesday. Finally, StockNews.com downgraded shares of Lancaster Colony from a "buy" rating to a "hold" rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $193.50.

Insider Buying and Selling

In related news, Director Elliot K. Fullen bought 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the acquisition, the director now directly owns 5,298 shares of the company's stock, valued at $895,362. The trade was a 130.55 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 29.50% of the company's stock.

Lancaster Colony Stock Performance

Shares of NASDAQ:LANC traded up $2.48 during trading on Thursday, reaching $181.98. The company had a trading volume of 108,906 shares, compared to its average volume of 131,039. The firm's fifty day moving average is $181.21 and its 200 day moving average is $184.70. The firm has a market capitalization of $5.02 billion, a PE ratio of 31.06 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.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last issued its quarterly earnings results 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). 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 the consensus estimate of $468.36 million. During the same period in the previous year, the business posted $1.70 earnings per share. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts predict that Lancaster Colony Co. will post 6.72 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 $0.95 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.80 annualized dividend and a dividend yield of 2.09%. This is a boost from Lancaster Colony's previous quarterly dividend of $0.90. 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.