New Age Alpha Advisors LLC Makes New Investment in Lancaster Colony Co. (NASDAQ:LANC)

New Age Alpha Advisors LLC bought a new stake in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,464 shares of the company's stock, valued at approximately $253,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LANC. Eagle Bay Advisors LLC acquired a new position in shares of Lancaster Colony in the 4th quarter valued at $38,000. GAMMA Investing LLC increased its position in shares of Lancaster Colony by 56.4% in the fourth quarter. GAMMA Investing LLC now owns 280 shares of the company's stock worth $48,000 after acquiring an additional 101 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Lancaster Colony by 1,078.9% during 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 period. KBC Group NV lifted its position in shares of Lancaster Colony by 80.4% in the 4th quarter. KBC Group NV now owns 893 shares of the company's stock valued at $155,000 after acquiring an additional 398 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Lancaster Colony by 62.1% in the 4th quarter. Blue Trust Inc. now owns 932 shares of the company's stock worth $165,000 after purchasing an additional 357 shares during the period. 66.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO David Alan Ciesinski sold 17,000 shares of the firm's 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 transaction, the chief executive officer now directly owns 54,644 shares of the company's stock, valued at approximately $10,447,386.36. This trade represents a 23.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 29.50% of the stock is currently owned by corporate insiders.

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Lancaster Colony Stock Performance

Shares of NASDAQ:LANC traded up $1.53 during midday trading on Thursday, hitting $175.07. 182,552 shares of the stock were exchanged, compared to its average volume of 134,985. The company has a market capitalization of $4.83 billion, a PE ratio of 30.77 and a beta of 0.31. Lancaster Colony Co. has a 52-week low of $163.20 and a 52-week high of $206.67. The business's fifty day simple moving average is $182.86 and its two-hundred day simple moving average is $181.26.

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

Lancaster Colony Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.17%. Lancaster Colony's dividend payout ratio is currently 66.78%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Stephens increased 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. DA Davidson increased their price objective on Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, StockNews.com raised Lancaster Colony from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Lancaster Colony presently has a consensus rating of "Hold" and a consensus price target of $211.33.

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.