Lancaster Colony Co. (NASDAQ:LANC) Shares Purchased by Bernzott Capital Advisors

Bernzott Capital Advisors raised its stake in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 24.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,842 shares of the company's stock after buying an additional 8,482 shares during the period. Lancaster Colony comprises 3.3% of Bernzott Capital Advisors' holdings, making the stock its 13th biggest holding. Bernzott Capital Advisors owned about 0.16% of Lancaster Colony worth $7,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new stake in shares of Lancaster Colony in the 2nd quarter worth approximately $28,000. V Square Quantitative Management LLC purchased a new stake in shares of Lancaster Colony in the 3rd quarter worth approximately $27,000. GAMMA Investing LLC lifted its position in shares of Lancaster Colony by 115.9% in the 2nd quarter. GAMMA Investing LLC now owns 177 shares of the company's stock worth $33,000 after purchasing an additional 95 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Lancaster Colony in the 2nd quarter worth approximately $38,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Lancaster Colony in the 2nd quarter worth approximately $74,000. 66.44% of the stock is owned by hedge funds and other institutional investors.

Lancaster Colony Stock Up 1.0 %

Shares of NASDAQ:LANC traded up $1.77 during midday trading on Tuesday, reaching $182.88. The company's stock had a trading volume of 142,264 shares, compared to its average volume of 128,614. The firm has a market capitalization of $5.03 billion, a PE ratio of 37.94 and a beta of 0.35. Lancaster Colony Co. has a twelve month low of $160.01 and a twelve month high of $215.31. The stock has a fifty day moving average of $177.55 and a 200 day moving average of $184.98.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last released its quarterly earnings data on Thursday, August 22nd. The company reported $1.35 earnings per share 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 analyst estimates of $462.70 million. Lancaster Colony had a return on equity of 19.61% and a net margin of 8.47%. Sell-side analysts anticipate that Lancaster Colony Co. will post 6.96 earnings per share for the current fiscal year.

Lancaster Colony Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Monday, September 9th. Lancaster Colony's dividend payout ratio (DPR) is presently 74.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Loop Capital decreased their target price on shares of Lancaster Colony from $236.00 to $232.00 and set a "buy" rating for the company in a research report on Monday, August 26th. Benchmark reissued a "hold" rating on shares of Lancaster Colony in a research report on Wednesday, September 18th. Stephens decreased their target price on shares of Lancaster Colony from $205.00 to $200.00 and set an "equal weight" rating for the company in a research report on Friday, August 23rd. Finally, StockNews.com cut shares of Lancaster Colony from a "buy" rating to a "hold" rating in a research report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $195.75.

Insider Buying and Selling

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

About Lancaster Colony

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.