Lancaster Colony Co. (NASDAQ:LANC) Shares Purchased by WCM Investment Management LLC

WCM Investment Management LLC increased its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 4.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,507 shares of the company's stock after acquiring an additional 4,306 shares during the quarter. WCM Investment Management LLC owned about 0.40% of Lancaster Colony worth $19,929,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LANC. V Square Quantitative Management LLC purchased a new stake in shares of Lancaster Colony in the 3rd quarter valued at approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in Lancaster Colony during the second quarter worth $28,000. GAMMA Investing LLC raised its position in Lancaster Colony by 115.9% in the second quarter. GAMMA Investing LLC now owns 177 shares of the company's stock valued at $33,000 after purchasing an additional 95 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Lancaster Colony during the 2nd quarter worth $38,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Lancaster Colony during the 2nd quarter worth about $74,000. Institutional investors and hedge funds own 66.44% of the company's stock.

Insider Transactions at Lancaster Colony

In other news, Director Elliot K. Fullen purchased 3,000 shares of the business's stock in a transaction on Tuesday, August 27th. The shares were bought at an average price of $169.00 per share, with a total value of $507,000.00. Following the completion of the transaction, the director now directly owns 5,298 shares in the company, valued at approximately $895,362. This represents a 100.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 29.50% of the company's stock.

Wall Street Analysts Forecast Growth

LANC has been the topic of a number of recent analyst reports. StockNews.com cut shares of Lancaster Colony from a "buy" rating to a "hold" rating in a research report on Friday, August 23rd. Stephens cut their target price on Lancaster Colony from $200.00 to $196.00 and set an "equal weight" rating on the stock in a research report on Friday, November 1st. Loop Capital lowered their price target on Lancaster Colony from $232.00 to $227.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Finally, Benchmark reiterated a "hold" rating on shares of Lancaster Colony in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Lancaster Colony presently has a consensus rating of "Hold" and a consensus target price of $193.50.

Lancaster Colony Stock Down 0.8 %

Lancaster Colony stock traded down $1.50 during midday trading on Monday, reaching $195.71. The company's stock had a trading volume of 120,884 shares, compared to its average volume of 131,016. The business has a 50-day simple moving average of $179.62 and a 200-day simple moving average of $184.95. The company has a market cap of $5.40 billion, a P/E ratio of 33.91 and a beta of 0.35. Lancaster Colony Co. has a fifty-two week low of $161.54 and a fifty-two week high of $215.31.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.08). Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The company had revenue of $466.56 million during the quarter, compared to analysts' expectations of $468.36 million. During the same quarter in the prior year, the company earned $1.70 earnings per share. The business's revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts forecast that Lancaster Colony Co. will post 6.72 earnings per share for the current year.

Lancaster Colony Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.95 per share. This is a positive change from Lancaster Colony's previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.80 annualized dividend and a dividend yield of 1.94%. Lancaster Colony's dividend payout ratio (DPR) is presently 62.28%.

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.