Nebula Research & Development LLC Makes New Investment in Lancaster Colony Co. (NASDAQ:LANC)

Nebula Research & Development LLC purchased a new stake in Lancaster Colony Co. (NASDAQ:LANC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,439 shares of the company's stock, valued at approximately $1,461,000.

A number of other hedge funds have also added to or reduced their stakes in LANC. Eagle Bay Advisors LLC bought a new position in Lancaster Colony in the fourth quarter valued at approximately $38,000. GAMMA Investing LLC increased its stake in Lancaster Colony by 56.4% in the fourth quarter. GAMMA Investing LLC now owns 280 shares of the company's stock valued at $48,000 after acquiring an additional 101 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Lancaster Colony by 1,078.9% in the fourth quarter. Farther Finance Advisors LLC now owns 448 shares of the company's stock valued at $78,000 after acquiring an additional 410 shares during the last quarter. Covestor Ltd grew its stake in shares of Lancaster Colony by 48.4% during the fourth quarter. Covestor Ltd now owns 724 shares of the company's stock worth $126,000 after buying an additional 236 shares during the last quarter. Finally, KBC Group NV grew its stake 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 buying an additional 398 shares during the last quarter. 66.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on LANC shares. StockNews.com raised shares of Lancaster Colony from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. DA Davidson boosted their target price 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. Finally, Stephens boosted their target price on shares of Lancaster Colony from $196.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $211.33.

Lancaster Colony Price Performance

Shares of Lancaster Colony stock traded down $0.50 during trading on Monday, hitting $189.71. The company's stock had a trading volume of 183,498 shares, compared to its average volume of 139,000. Lancaster Colony Co. has a 52 week low of $163.20 and a 52 week high of $202.63. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 33.34 and a beta of 0.38. The stock has a 50-day moving average price of $183.88 and a two-hundred day moving average price of $182.00.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $2.22 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.28. Lancaster Colony had a net margin of 8.26% and a return on equity of 19.51%. The company had revenue of $509.30 million for the quarter, compared to analysts' expectations of $495.43 million. During the same quarter in the previous year, the firm posted $1.87 earnings per share. Lancaster Colony's revenue for the quarter 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were paid a $0.95 dividend. The ex-dividend date was Friday, March 7th. This represents a $3.80 annualized dividend and a dividend yield of 2.00%. Lancaster Colony's dividend payout ratio is 66.78%.

Insider Buying and Selling

In related news, CEO David Alan Ciesinski sold 17,000 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,250,230.00. Following the sale, the chief executive officer now owns 54,644 shares in the company, valued at $10,447,386.36. This represents a 23.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 29.50% of the stock is currently owned by 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.