WCM Investment Management LLC Sells 5,916 Shares of Lancaster Colony Co. (NASDAQ:LANC)

WCM Investment Management LLC lessened its stake in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,591 shares of the company's stock after selling 5,916 shares during the period. WCM Investment Management LLC owned about 0.38% of Lancaster Colony worth $18,282,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Lancaster Colony in the third quarter valued at approximately $27,000. Eagle Bay Advisors LLC purchased a new position in Lancaster Colony in the 4th quarter worth about $38,000. GAMMA Investing LLC lifted its position 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 acquiring an additional 101 shares in the last quarter. KBC Group NV boosted its position in 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 acquiring an additional 398 shares during the period. Finally, Blue Trust Inc. increased 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 during the period. Institutional investors and hedge funds own 66.44% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LANC shares. Benchmark reaffirmed a "hold" rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. Loop Capital decreased their price objective on Lancaster Colony from $232.00 to $227.00 and set a "buy" rating on the stock in a report on Friday, November 1st. DA Davidson increased their price target on shares of Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a research report on Monday. 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. Finally, StockNews.com upgraded Lancaster Colony from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $211.33.

Lancaster Colony Price Performance

LANC stock traded up $1.03 during midday trading on Wednesday, hitting $191.70. The company's stock had a trading volume of 184,985 shares, compared to its average volume of 155,599. Lancaster Colony Co. has a twelve month low of $163.20 and a twelve month high of $209.81. The stock has a market capitalization of $5.29 billion, a P/E ratio of 33.69 and a beta of 0.35. The company's fifty day moving average price is $177.70 and its 200 day moving average price is $180.90.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $2.22 EPS for the quarter, topping the consensus estimate of $1.94 by $0.28. The company had revenue of $509.30 million during the quarter, compared to the consensus estimate of $495.43 million. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The firm's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.87 EPS. Equities analysts expect that Lancaster Colony Co. will post 6.64 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 1.98%. Lancaster Colony's dividend payout ratio (DPR) is 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.