Lancaster Colony Co. (NASDAQ:LANC) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance lowered its holdings in Lancaster Colony Co. (NASDAQ:LANCFree Report) by 14.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,752 shares of the company’s stock after selling 285 shares during the period. Independent Advisor Alliance’s holdings in Lancaster Colony were worth $291,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Principal Securities Inc. purchased a new stake in shares of Lancaster Colony in the fourth quarter valued at $129,000. UMB Bank n.a. lifted its holdings in shares of Lancaster Colony by 11.8% in the fourth quarter. UMB Bank n.a. now owns 894 shares of the company’s stock valued at $149,000 after purchasing an additional 94 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Lancaster Colony by 141.0% in the third quarter. Daiwa Securities Group Inc. now owns 1,181 shares of the company’s stock valued at $195,000 after purchasing an additional 691 shares in the last quarter. Laurion Capital Management LP purchased a new stake in shares of Lancaster Colony in the third quarter valued at $205,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Lancaster Colony by 235.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the company’s stock valued at $225,000 after purchasing an additional 950 shares in the last quarter. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. StockNews.com upgraded Lancaster Colony from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Stephens reiterated an “equal weight” rating and set a $218.00 price objective on shares of Lancaster Colony in a report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $198.75.

View Our Latest Research Report on LANC

Lancaster Colony Stock Performance

Shares of NASDAQ:LANC opened at $188.46 on Thursday. The company has a market cap of $5.19 billion, a P/E ratio of 39.10 and a beta of 0.39. The stock’s 50-day moving average is $196.45 and its 200-day moving average is $184.60. Lancaster Colony Co. has a 52-week low of $158.88 and a 52-week high of $215.31.

Lancaster Colony (NASDAQ:LANCGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.02. The company had revenue of $471.40 million for the quarter, compared to the consensus estimate of $467.90 million. Lancaster Colony had a return on equity of 18.96% and a net margin of 7.10%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business posted $0.89 earnings per share. As a group, equities analysts predict that Lancaster Colony Co. will post 6.52 EPS for the current year.

Lancaster Colony Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, June 7th. Lancaster Colony’s dividend payout ratio is currently 74.69%.

About Lancaster Colony

(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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Institutional Ownership by Quarter for Lancaster Colony (NASDAQ:LANC)

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