Triad Wealth Partners LLC Buys New Stake in Lancaster Colony Co. (NASDAQ:LANC)

Triad Wealth Partners LLC bought a new position in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,754 shares of the company's stock, valued at approximately $650,000.

Several other institutional investors have also recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its position in shares of Lancaster Colony by 50.0% during the fourth quarter. Victory Capital Management Inc. now owns 7,175 shares of the company's stock worth $1,242,000 after acquiring an additional 2,393 shares in the last quarter. Bahl & Gaynor Inc. lifted its position in shares of Lancaster Colony by 9.6% during the fourth quarter. Bahl & Gaynor Inc. now owns 158,057 shares of the company's stock worth $27,366,000 after acquiring an additional 13,822 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Lancaster Colony by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 285,999 shares of the company's stock worth $49,518,000 after acquiring an additional 5,168 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Lancaster Colony by 4,728.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,352 shares of the company's stock worth $234,000 after acquiring an additional 1,324 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Lancaster Colony by 6.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 7,378 shares of the company's stock worth $1,277,000 after acquiring an additional 443 shares in the last quarter. Hedge funds and other institutional investors own 66.44% of the company's stock.

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Lancaster Colony Price Performance

LANC traded up $0.52 on Friday, hitting $192.49. The company had a trading volume of 193,388 shares, compared to its average volume of 151,427. Lancaster Colony Co. has a 52-week low of $163.20 and a 52-week high of $209.08. The stock has a fifty day simple moving average of $180.26 and a 200-day simple moving average of $181.01. The firm has a market capitalization of $5.31 billion, a P/E ratio of 33.83 and a beta of 0.31.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last released its 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. 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 analyst estimates of $495.43 million. During the same period last year, the business earned $1.87 earnings per share. The business's revenue was up 4.8% on a year-over-year basis. Equities research analysts expect that Lancaster Colony Co. will post 6.8 earnings per share for the current fiscal year.

Lancaster Colony Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.95 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.80 dividend on an annualized basis and a yield of 1.97%. Lancaster Colony's payout ratio is currently 66.78%.

Analyst Ratings Changes

A number of brokerages recently issued reports on LANC. Benchmark reiterated a "hold" rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. Stephens increased their price objective on Lancaster Colony from $196.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. StockNews.com upgraded Lancaster Colony from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Finally, 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 report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $211.33.

Insider Buying and Selling

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

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.