Ontario Teachers Pension Plan Board Trims Stock Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Ontario Teachers Pension Plan Board lowered its holdings in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 79.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,182 shares of the company's stock after selling 11,959 shares during the period. Ontario Teachers Pension Plan Board's holdings in Lancaster Colony were worth $562,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Lancaster Colony by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,186,162 shares of the company's stock worth $453,913,000 after purchasing an additional 85,658 shares during the period. Dimensional Fund Advisors LP increased its stake in Lancaster Colony by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 520,335 shares of the company's stock valued at $98,326,000 after purchasing an additional 25,072 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Lancaster Colony by 5.5% in the 2nd quarter. Renaissance Technologies LLC now owns 306,080 shares of the company's stock worth $57,840,000 after purchasing an additional 15,962 shares during the last quarter. Bank of New York Mellon Corp grew its position in Lancaster Colony by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 241,646 shares of the company's stock worth $45,664,000 after purchasing an additional 4,327 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in shares of Lancaster Colony by 2,386.6% in the 2nd quarter. Blair William & Co. IL now owns 172,075 shares of the company's stock worth $32,517,000 after acquiring an additional 165,155 shares during the period. Hedge funds and other institutional investors own 66.44% of the company's stock.

Insider Buying and Selling at Lancaster Colony

In related news, Director Elliot K. Fullen acquired 3,000 shares of the business's stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average price of $169.00 per share, for a total transaction of $507,000.00. Following the completion of the acquisition, the director now directly owns 5,298 shares in the company, valued at $895,362. The trade was a 130.55 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 29.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on LANC shares. Benchmark reaffirmed a "hold" rating on shares of Lancaster Colony in a research report on Tuesday. Loop Capital cut their price objective on Lancaster Colony from $232.00 to $227.00 and set a "buy" rating for the company in a report on Friday, November 1st. StockNews.com lowered Lancaster Colony from a "buy" rating to a "hold" rating in a research report on Friday, August 23rd. Finally, Stephens reaffirmed an "equal weight" rating and set a $196.00 price target on shares of Lancaster Colony in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Lancaster Colony has a consensus rating of "Hold" and a consensus target price of $193.50.

Lancaster Colony Stock Up 2.4 %

Shares of LANC stock traded up $4.40 during trading on Friday, hitting $186.38. The company had a trading volume of 132,759 shares, compared to its average volume of 131,130. Lancaster Colony Co. has a 52 week low of $161.54 and a 52 week high of $215.31. The stock's 50-day moving average is $181.30 and its two-hundred day moving average is $184.68. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 31.53 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $1.62 EPS for the quarter, missing analysts' consensus estimates of $1.70 by ($0.08). The business had revenue of $466.56 million for the quarter, compared to the consensus estimate of $468.36 million. Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The business's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.70 EPS. On average, research analysts predict that Lancaster Colony Co. will post 6.72 EPS for the current fiscal year.

Lancaster Colony Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.04%. This is an increase from Lancaster Colony's previous quarterly dividend of $0.90. The ex-dividend date is Thursday, December 5th. Lancaster Colony's payout ratio is presently 62.28%.

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.