Lancaster Colony Co. (NASDAQ:LANC) Position Reduced by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its position in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 9.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 312,718 shares of the company's stock after selling 31,662 shares during the quarter. Renaissance Technologies LLC owned approximately 1.13% of Lancaster Colony worth $54,144,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Eagle Bay Advisors LLC acquired a new position in Lancaster Colony in the fourth quarter worth $38,000. GAMMA Investing LLC grew its position in shares of Lancaster Colony by 56.4% during the 4th 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 last quarter. Farther Finance Advisors LLC raised its stake in Lancaster Colony by 1,078.9% during the fourth quarter. Farther Finance Advisors LLC now owns 448 shares of the company's stock worth $78,000 after acquiring an additional 410 shares during the period. KBC Group NV boosted its stake in Lancaster Colony by 80.4% in 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 during the period. Finally, Blue Trust Inc. grew its holdings in shares of Lancaster Colony by 62.1% during the fourth quarter. Blue Trust Inc. now owns 932 shares of the company's stock valued at $165,000 after purchasing an additional 357 shares during the last quarter. Institutional investors own 66.44% of the company's stock.

Insiders Place Their Bets

In related news, CEO David Alan Ciesinski sold 17,000 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $191.19, for a total value of $3,250,230.00. Following the sale, the chief executive officer now directly owns 54,644 shares in the company, valued at $10,447,386.36. The trade was a 23.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 29.50% of the stock is owned by company insiders.

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Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. StockNews.com raised Lancaster Colony from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. DA Davidson boosted their target price on shares of Lancaster Colony from $192.00 to $207.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Finally, Stephens raised their price target on shares of Lancaster Colony from $196.00 to $200.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $211.33.

Lancaster Colony Trading Down 1.9 %

LANC traded down $3.47 on Tuesday, reaching $183.51. The company had a trading volume of 24,479 shares, compared to its average volume of 138,018. The company has a market capitalization of $5.06 billion, a P/E ratio of 32.25 and a beta of 0.38. The company has a fifty day moving average of $184.07 and a 200-day moving average of $181.24. Lancaster Colony Co. has a one year low of $163.20 and a one year high of $202.63.

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

Lancaster Colony Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Friday, March 7th. Lancaster Colony's payout ratio is currently 66.78%.

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.