Victory Capital Management Inc. Has $1.24 Million Stake in Lancaster Colony Co. (NASDAQ:LANC)

Victory Capital Management Inc. grew its position in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 50.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,175 shares of the company's stock after buying an additional 2,393 shares during the quarter. Victory Capital Management Inc.'s holdings in Lancaster Colony were worth $1,242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Bahl & Gaynor Inc. grew its stake 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 valued at $27,366,000 after purchasing an additional 13,822 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake 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 valued at $49,518,000 after purchasing an additional 5,168 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake 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 valued at $234,000 after purchasing an additional 1,324 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake 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 valued at $1,277,000 after purchasing an additional 443 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Lancaster Colony by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 213,854 shares of the company's stock valued at $37,027,000 after purchasing an additional 9,861 shares during the last quarter. 66.44% of the stock is owned by institutional investors.

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Lancaster Colony Stock Up 0.7 %

LANC stock traded up $1.16 during midday trading on Friday, reaching $175.33. The company's stock had a trading volume of 736,672 shares, compared to its average volume of 128,727. Lancaster Colony Co. has a 52 week low of $163.20 and a 52 week high of $209.08. The stock has a market cap of $4.83 billion, a PE ratio of 30.81 and a beta of 0.31. The business's 50-day simple moving average is $182.12 and its 200-day simple moving average is $181.35.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $495.43 million. During the same period last year, the firm earned $1.87 earnings per share. The business's revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.80 annualized dividend and a yield of 2.17%. Lancaster Colony's dividend payout ratio (DPR) is presently 66.78%.

Analyst Ratings Changes

Several analysts have recently commented on LANC shares. StockNews.com raised shares of Lancaster Colony from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Stephens increased 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. Finally, DA Davidson raised their price objective 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. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $211.33.

Insiders Place Their Bets

In other Lancaster Colony news, CEO David Alan Ciesinski sold 17,000 shares of the stock in a transaction 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 approximately $10,447,386.36. This trade represents a 23.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 29.50% of the company's stock.

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.