Landscape Capital Management L.L.C. Has $1.36 Million Stock Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Landscape Capital Management L.L.C. reduced its stake in Lancaster Colony Co. (NASDAQ:LANC) by 64.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,849 shares of the company’s stock after selling 13,970 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Lancaster Colony were worth $1,359,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Eagle Bay Advisors LLC acquired a new position in shares of Lancaster Colony in the 4th quarter worth approximately $38,000. GAMMA Investing LLC raised its stake in Lancaster Colony by 56.4% during the fourth quarter. GAMMA Investing LLC now owns 280 shares of the company’s stock worth $48,000 after buying an additional 101 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Lancaster Colony by 1,078.9% in the fourth quarter. Farther Finance Advisors LLC now owns 448 shares of the company’s stock valued at $78,000 after buying an additional 410 shares during the period. KBC Group NV grew 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 acquiring an additional 398 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Lancaster Colony by 62.1% in the 4th quarter. Blue Trust Inc. now owns 932 shares of the company’s stock worth $165,000 after acquiring an additional 357 shares in the last quarter. 66.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on LANC. DA Davidson upped their target price on Lancaster Colony from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Stephens raised their price objective on shares of Lancaster Colony from $196.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Finally, StockNews.com upgraded shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lancaster Colony has an average rating of “Hold” and a consensus price target of $211.33.

Insider Activity

In other news, CEO David Alan Ciesinski sold 17,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 54,644 shares in the company, valued at $10,447,386.36. This trade represents a 23.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 29.50% of the company’s stock.

Lancaster Colony Stock Performance

LANC stock opened at $179.80 on Friday. The stock’s 50 day simple moving average is $183.03 and its 200 day simple moving average is $181.22. The company has a market cap of $4.96 billion, a P/E ratio of 31.60 and a beta of 0.31. Lancaster Colony Co. has a fifty-two week low of $163.20 and a fifty-two week high of $206.05.

Lancaster Colony (NASDAQ:LANC) last issued its earnings results on Tuesday, February 4th. The company reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.28. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The company had revenue of $509.30 million for the quarter, compared to analyst estimates of $495.43 million. During the same period in the prior year, the firm earned $1.87 earnings per share. Lancaster Colony’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities analysts predict that Lancaster Colony Co. will post 6.8 earnings per share for the current year.

Lancaster Colony Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Friday, March 7th. Lancaster Colony’s dividend payout ratio (DPR) is 66.78%.

About Lancaster Colony

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.