Milestone Asset Management LLC Takes Position in Lancaster Colony Co. (NASDAQ:LANC)

Milestone Asset Management LLC acquired a new position in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,564 shares of the company's stock, valued at approximately $963,000.

Several other institutional investors have also recently modified their holdings of LANC. V Square Quantitative Management LLC acquired a new position in shares of Lancaster Colony in the third quarter valued at approximately $27,000. Eagle Bay Advisors LLC acquired a new position in Lancaster Colony in the 4th quarter valued at $38,000. GAMMA Investing LLC lifted its stake in shares of Lancaster Colony by 56.4% during the 4th quarter. GAMMA Investing LLC now owns 280 shares of the company's stock worth $48,000 after purchasing an additional 101 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Lancaster Colony during the 2nd quarter worth $74,000. Finally, KBC Group NV boosted its holdings in shares of Lancaster Colony by 80.4% during the fourth quarter. KBC Group NV now owns 893 shares of the company's stock worth $155,000 after purchasing an additional 398 shares during the last quarter. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Lancaster Colony Trading Down 0.7 %

Shares of Lancaster Colony stock traded down $1.22 during trading hours on Thursday, reaching $168.74. The stock had a trading volume of 38,889 shares, compared to its average volume of 128,091. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 29.19 and a beta of 0.36. Lancaster Colony Co. has a 1 year low of $163.20 and a 1 year high of $215.31. The firm has a 50 day simple moving average of $178.69 and a two-hundred day simple moving average of $181.34.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last announced its quarterly earnings results 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). Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The business had revenue of $466.56 million for the quarter, compared to analyst estimates of $468.36 million. During the same period last year, the firm earned $1.70 earnings per share. The company's quarterly revenue was up 1.1% on a year-over-year basis. Sell-side analysts forecast that Lancaster Colony Co. will post 6.7 EPS for the current year.

Lancaster Colony Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Thursday, December 5th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.25%. 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 payout ratio is currently 65.74%.

Analyst Ratings Changes

LANC has been the topic of several recent analyst reports. Stephens reiterated an "equal weight" rating and set a $196.00 target price on shares of Lancaster Colony in a research report on Tuesday, November 19th. Benchmark reiterated a "hold" rating on shares of Lancaster Colony in a report on Tuesday, November 19th. Finally, Loop Capital cut 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.

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.