Algert Global LLC Has $1.53 Million Stock Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Algert Global LLC trimmed its stake in shares of Lancaster Colony Co. (NASDAQ:LANC) by 68.9% in the third quarter, Holdings Channel.com reports. The firm owned 8,641 shares of the company’s stock after selling 19,105 shares during the quarter. Algert Global LLC’s holdings in Lancaster Colony were worth $1,526,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Consolidated Planning Corp increased its position in Lancaster Colony by 4.5% in the 2nd quarter. Consolidated Planning Corp now owns 1,232 shares of the company’s stock valued at $233,000 after acquiring an additional 53 shares during the period. Asset Management One Co. Ltd. increased its position in Lancaster Colony by 2.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 2,506 shares of the company’s stock valued at $442,000 after acquiring an additional 57 shares during the period. Creative Financial Designs Inc. ADV increased its position in Lancaster Colony by 1.8% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,805 shares of the company’s stock valued at $672,000 after acquiring an additional 67 shares during the period. AlphaMark Advisors LLC increased its position in Lancaster Colony by 5.2% in the 3rd quarter. AlphaMark Advisors LLC now owns 1,686 shares of the company’s stock valued at $298,000 after acquiring an additional 83 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in Lancaster Colony by 0.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 15,179 shares of the company’s stock valued at $2,868,000 after acquiring an additional 87 shares during the period. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LANC has been the subject of several recent research reports. StockNews.com cut shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Loop Capital decreased their price objective on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Stephens reiterated an “equal weight” rating and set a $196.00 price objective on shares of Lancaster Colony in a research report on Tuesday, November 19th. Finally, Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $202.67.

Lancaster Colony Stock Up 0.3 %

LANC opened at $186.05 on Friday. Lancaster Colony Co. has a twelve month low of $161.54 and a twelve month high of $215.31. The company has a fifty day moving average of $181.98 and a 200-day moving average of $184.39. The stock has a market cap of $5.13 billion, a PE ratio of 32.19 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last issued its earnings results on Thursday, October 31st. The company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.08). The company had revenue of $466.56 million for the quarter, compared to the consensus estimate of $468.36 million. Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.70 earnings per share. Sell-side analysts anticipate that Lancaster Colony Co. will post 6.72 EPS for the current fiscal year.

Lancaster Colony Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, December 5th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, December 5th. This is a positive change from Lancaster Colony’s previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a yield of 2.04%. Lancaster Colony’s dividend payout ratio is currently 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.