Thrivent Financial for Lutherans Has $61.44 Million Position in Lancaster Colony Co. (NASDAQ:LANC)

Thrivent Financial for Lutherans decreased its holdings in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 354,857 shares of the company's stock after selling 45,916 shares during the quarter. Thrivent Financial for Lutherans owned 1.29% of Lancaster Colony worth $61,440,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LANC. Eagle Bay Advisors LLC acquired a new position in Lancaster Colony in the fourth quarter worth about $38,000. GAMMA Investing LLC grew its stake in shares of Lancaster Colony by 56.4% in the 4th quarter. GAMMA Investing LLC now owns 280 shares of the company's stock valued at $48,000 after purchasing an additional 101 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Lancaster Colony by 1,078.9% in the 4th 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. KBC Group NV lifted its position in shares of Lancaster Colony by 80.4% during the 4th quarter. KBC Group NV now owns 893 shares of the company's stock worth $155,000 after buying an additional 398 shares during the period. 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 valued at $165,000 after buying an additional 357 shares in the last quarter. 66.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Lancaster Colony

In other Lancaster Colony 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 transaction of $3,250,230.00. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 29.50% of the company's stock.

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Lancaster Colony Price Performance

Shares of NASDAQ:LANC traded up $0.54 during midday trading on Monday, reaching $175.87. The company's stock had a trading volume of 154,814 shares, compared to its average volume of 128,831. The business's fifty day simple moving average is $182.12 and its 200-day simple moving average is $181.39. Lancaster Colony Co. has a fifty-two week low of $163.20 and a fifty-two week high of $209.08. The company has a market capitalization of $4.85 billion, a P/E ratio of 30.91 and a beta of 0.31.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $2.22 earnings per share for the quarter, beating 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 firm had revenue of $509.30 million during the quarter, compared to analysts' expectations of $495.43 million. During the same quarter last year, the company posted $1.87 EPS. The company's quarterly revenue was up 4.8% compared to the same quarter last year. On average, analysts forecast that Lancaster Colony Co. will post 6.8 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Friday, March 7th. Lancaster Colony's dividend payout ratio is 66.78%.

Wall Street Analyst Weigh In

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

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.