Wealthfront Advisers LLC purchased a new stake 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 SEC. The institutional investor purchased 1,836 shares of the company's stock, valued at approximately $318,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Eagle Bay Advisors LLC bought a new position in Lancaster Colony in the 4th quarter valued at $38,000. GAMMA Investing LLC grew its position in shares of Lancaster Colony by 56.4% during the 4th quarter. GAMMA Investing LLC now owns 280 shares of the company's stock worth $48,000 after buying an additional 101 shares in the last quarter. KBC Group NV grew 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 in the last quarter. Blue Trust Inc. grew its position in shares of Lancaster Colony by 62.1% during the 4th quarter. Blue Trust Inc. now owns 932 shares of the company's stock worth $165,000 after buying an additional 357 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Lancaster Colony during the 3rd quarter worth $220,000. Hedge funds and other institutional investors own 66.44% of the company's stock.
Lancaster Colony Stock Performance
LANC traded up $1.16 on Friday, hitting $175.33. The company had a trading volume of 736,672 shares, compared to its average volume of 129,395. The stock has a fifty day moving average price of $181.95 and a 200-day moving average price of $181.25. Lancaster Colony Co. has a 12-month low of $163.20 and a 12-month high of $209.08. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 30.81 and a beta of 0.31.
Lancaster Colony (NASDAQ:LANC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $2.22 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.28. The business 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 company's quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company earned $1.87 earnings per share. Analysts forecast that Lancaster Colony Co. will post 6.8 EPS for the current fiscal year.
Lancaster Colony Dividend Announcement
The firm also recently declared 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. This represents a $3.80 annualized dividend and a yield of 2.17%. The ex-dividend date is Friday, March 7th. Lancaster Colony's dividend payout ratio is presently 66.78%.
Insiders Place Their Bets
In other Lancaster Colony news, CEO David Alan Ciesinski sold 17,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $191.19, for a total value of $3,250,230.00. Following the completion of the sale, the chief executive officer now owns 54,644 shares of the company's stock, valued at approximately $10,447,386.36. This trade represents a 23.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 29.50% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on LANC shares. StockNews.com raised Lancaster Colony from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. DA Davidson raised their price objective on Lancaster Colony from $192.00 to $207.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Finally, Stephens lifted their target price on Lancaster Colony from $196.00 to $200.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $211.33.
Check Out Our Latest Report on Lancaster Colony
Lancaster Colony Company Profile
(
Free Report)
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.
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