Mitsubishi UFJ Asset Management UK Ltd. Grows Position in Lancaster Colony Co. (NASDAQ:LANC)

Mitsubishi UFJ Asset Management UK Ltd. grew its position in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 130.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,300 shares of the company's stock after acquiring an additional 3,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Lancaster Colony were worth $936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in LANC. Wellington Management Group LLP boosted its holdings in shares of Lancaster Colony by 1.4% in the 4th quarter. Wellington Management Group LLP now owns 32,371 shares of the company's stock worth $5,386,000 after buying an additional 434 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Lancaster Colony by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 2,100,504 shares of the company's stock worth $349,503,000 after purchasing an additional 19,427 shares during the period. HighPoint Advisor Group LLC purchased a new position in Lancaster Colony in the fourth quarter valued at approximately $173,000. Park Avenue Securities LLC increased its position in Lancaster Colony by 2.0% in the first quarter. Park Avenue Securities LLC now owns 5,876 shares of the company's stock worth $1,220,000 after buying an additional 115 shares during the last quarter. Finally, Mcdonald Partners LLC bought a new stake in shares of Lancaster Colony in the first quarter valued at $208,000. Institutional investors own 66.44% of the company's stock.

Analyst Ratings Changes

LANC has been the subject of several recent research reports. Benchmark reissued a "hold" rating on shares of Lancaster Colony in a report on Wednesday, September 18th. StockNews.com lowered shares of Lancaster Colony from a "buy" rating to a "hold" rating in a research report on Friday, August 23rd. Loop Capital dropped their price target on shares of Lancaster Colony from $236.00 to $232.00 and set a "buy" rating on the stock in a research note on Monday, August 26th. Finally, Stephens reduced their price objective on shares of Lancaster Colony from $205.00 to $200.00 and set an "equal weight" rating for the company in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Lancaster Colony currently has an average rating of "Hold" and an average target price of $195.75.

Insider Activity at Lancaster Colony

In related news, Director Elliot K. Fullen purchased 3,000 shares of the business's stock in a transaction on Tuesday, August 27th. The stock was acquired at an average price of $169.00 per share, with a total value of $507,000.00. Following the purchase, the director now directly owns 5,298 shares in the company, valued at approximately $895,362. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 29.60% of the stock is currently owned by insiders.

Lancaster Colony Stock Down 1.5 %

NASDAQ:LANC traded down $2.64 during mid-day trading on Friday, hitting $175.78. 96,696 shares of the stock traded hands, compared to its average volume of 128,289. Lancaster Colony Co. has a 12-month low of $160.01 and a 12-month high of $215.31. The company has a market cap of $4.84 billion, a PE ratio of 36.47 and a beta of 0.35. The business's 50-day moving average price is $179.83 and its 200 day moving average price is $186.33.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.41 by ($0.06). The business had revenue of $452.83 million during the quarter, compared to analysts' expectations of $462.70 million. Lancaster Colony had a return on equity of 19.61% and a net margin of 8.47%. Analysts anticipate that Lancaster Colony Co. will post 6.96 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Monday, September 9th. Lancaster Colony's dividend payout ratio (DPR) is 74.69%.

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.