NewEdge Advisors LLC Grows Position in Lancaster Colony Co. (NASDAQ:LANC)

NewEdge Advisors LLC raised its holdings in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 6,371.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,977 shares of the company's stock after purchasing an additional 2,931 shares during the period. NewEdge Advisors LLC's holdings in Lancaster Colony were worth $515,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Eagle Bay Advisors LLC bought a new position in shares of Lancaster Colony in the fourth quarter worth $38,000. GAMMA Investing LLC increased its position in shares of Lancaster Colony by 56.4% during the fourth quarter. GAMMA Investing LLC now owns 280 shares of the company's stock valued at $48,000 after buying an additional 101 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Lancaster Colony by 1,078.9% in the fourth quarter. Farther Finance Advisors LLC now owns 448 shares of the company's stock worth $78,000 after buying an additional 410 shares in the last quarter. Covestor Ltd boosted its position in shares of Lancaster Colony by 48.4% in the fourth quarter. Covestor Ltd now owns 724 shares of the company's stock valued at $126,000 after acquiring an additional 236 shares during the period. Finally, KBC Group NV grew its stake in Lancaster Colony by 80.4% during the fourth 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. Institutional investors own 66.44% of the company's stock.

Lancaster Colony Stock Down 0.1 %

LANC opened at $190.21 on Monday. The business's fifty day simple moving average is $183.93 and its 200 day simple moving average is $181.93. 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 $5.24 billion, a PE ratio of 33.43 and a beta of 0.38.

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

Lancaster Colony Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.00%. The ex-dividend date was Friday, March 7th. Lancaster Colony's dividend payout ratio is presently 66.78%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. DA Davidson boosted their price target on shares of Lancaster Colony from $192.00 to $207.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. StockNews.com upgraded Lancaster Colony from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Finally, Stephens lifted their price target on Lancaster Colony from $196.00 to $200.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $211.33.

Insider Buying and Selling at Lancaster Colony

In other news, CEO David Alan Ciesinski sold 17,000 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 54,644 shares of the company's stock, valued at approximately $10,447,386.36. The trade was a 23.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 29.50% of the company's stock.

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.

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