Geode Capital Management LLC Has $97.31 Million Stock Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Geode Capital Management LLC grew its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 1.0% in the 4th quarter, Holdings Channel reports. The firm owned 561,913 shares of the company’s stock after acquiring an additional 5,690 shares during the quarter. Geode Capital Management LLC’s holdings in Lancaster Colony were worth $97,308,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in LANC. Eagle Bay Advisors LLC bought a new position in Lancaster Colony during the 4th quarter worth approximately $38,000. GAMMA Investing LLC raised its holdings in 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 purchasing an additional 101 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Lancaster Colony by 1,078.9% during the 4th quarter. Farther Finance Advisors LLC now owns 448 shares of the company’s stock worth $78,000 after purchasing an additional 410 shares during the last quarter. KBC Group NV raised its holdings 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 purchasing an additional 398 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in 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 purchasing an additional 357 shares during the last quarter. Institutional investors own 66.44% of the company’s stock.

Insider Activity at Lancaster Colony

In related news, CEO David Alan Ciesinski sold 17,000 shares of Lancaster Colony 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 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 29.50% of the stock is currently owned by insiders.

Lancaster Colony Stock Up 4.3 %

NASDAQ:LANC opened at $181.26 on Thursday. The company has a fifty day moving average of $183.71 and a 200-day moving average of $181.11. The firm has a market capitalization of $5.00 billion, a P/E ratio of 31.86 and a beta of 0.38. Lancaster Colony Co. has a twelve month low of $163.20 and a twelve month high of $202.63.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.28. Lancaster Colony had a net margin of 8.26% and a return on equity of 19.51%. The business had revenue of $509.30 million during the quarter, compared to the consensus estimate of $495.43 million. During the same quarter last year, the firm posted $1.87 EPS. Lancaster Colony’s revenue was up 4.8% compared to the same quarter last year. On average, analysts anticipate that Lancaster Colony Co. will post 6.8 EPS for the current fiscal year.

Lancaster Colony Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Friday, March 7th. Lancaster Colony’s payout ratio is currently 66.78%.

Analyst Ratings Changes

Several research analysts have issued reports on LANC shares. Stephens raised their price target on shares of Lancaster Colony from $196.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. StockNews.com upgraded shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, DA Davidson lifted 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $211.33.

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.