Lancaster Colony Co. (NASDAQ:LANC) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA lowered its position in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,227 shares of the company's stock after selling 3,584 shares during the quarter. Leeward Investments LLC MA owned about 0.17% of Lancaster Colony worth $8,350,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Lancaster Colony by 243.2% in the 3rd quarter. Wellington Management Group LLP now owns 83,630 shares of the company's stock valued at $14,767,000 after acquiring an additional 59,261 shares during the period. Boston Trust Walden Corp lifted its stake in Lancaster Colony by 20.5% during the fourth quarter. Boston Trust Walden Corp now owns 305,264 shares of the company's stock worth $52,853,000 after purchasing an additional 52,030 shares in the last quarter. Barclays PLC boosted its position in shares of Lancaster Colony by 125.5% during the third quarter. Barclays PLC now owns 44,189 shares of the company's stock worth $7,803,000 after buying an additional 24,589 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Lancaster Colony in the third quarter valued at $3,853,000. Finally, SG Americas Securities LLC raised its holdings in shares of Lancaster Colony by 336.2% in the 4th quarter. SG Americas Securities LLC now owns 23,393 shares of the company's stock valued at $4,050,000 after buying an additional 18,030 shares during the period. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

LANC has been the subject of a number of research analyst reports. Stephens raised their target price on Lancaster Colony from $196.00 to $200.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Benchmark reissued a "hold" rating on shares of Lancaster Colony in a research note on Tuesday, November 19th. StockNews.com raised shares of Lancaster Colony from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Loop Capital reduced their target price on shares of Lancaster Colony from $232.00 to $227.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Finally, DA Davidson boosted their price target on shares of Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $211.33.

Lancaster Colony Stock Down 0.2 %

Lancaster Colony stock traded down $0.46 during trading on Thursday, reaching $190.03. The stock had a trading volume of 121,655 shares, compared to its average volume of 151,101. Lancaster Colony Co. has a 52-week low of $163.20 and a 52-week high of $209.81. The stock has a market cap of $5.24 billion, a PE ratio of 33.40 and a beta of 0.35. The business has a 50 day moving average price of $178.44 and a 200 day moving average price of $181.10.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $2.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.28. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The company had revenue of $509.30 million for the quarter, compared to analysts' expectations of $495.43 million. During the same period last year, the firm earned $1.87 earnings per share. Lancaster Colony's quarterly revenue was up 4.8% on a year-over-year basis. On average, equities analysts predict that Lancaster Colony Co. will post 6.8 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.80 annualized dividend and a yield of 2.00%. Lancaster Colony's dividend payout ratio is currently 66.78%.

Insiders Place Their Bets

In other news, CEO David Alan Ciesinski sold 17,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $191.19, for a total value of $3,250,230.00. Following the completion of the sale, the chief executive officer now directly owns 54,644 shares of the company's stock, valued at approximately $10,447,386.36. This represents a 23.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 29.50% of the stock is owned by corporate insiders.

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.