Victory Capital Management Inc. boosted its position in shares of Lancaster Colony Corp. (NASDAQ:LANC) by 17.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,514 shares of the company’s stock after buying an additional 676 shares during the period. Victory Capital Management Inc.’s holdings in Lancaster Colony Corp. were worth $576,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in LANC. State Street Corp raised its stake in shares of Lancaster Colony Corp. by 118.9% in the first quarter. State Street Corp now owns 1,362,630 shares of the company’s stock worth $150,663,000 after buying an additional 740,124 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Lancaster Colony Corp. by 18.4% in the second quarter. Fisher Asset Management LLC now owns 403,956 shares of the company’s stock worth $51,565,000 after buying an additional 62,721 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Lancaster Colony Corp. by 18.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 248,374 shares of the company’s stock worth $31,697,000 after buying an additional 38,885 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Lancaster Colony Corp. by 68.6% in the first quarter. Goldman Sachs Group Inc. now owns 141,935 shares of the company’s stock worth $15,694,000 after buying an additional 57,738 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Lancaster Colony Corp. by 5.4% in the first quarter. Geode Capital Management LLC now owns 139,271 shares of the company’s stock worth $15,399,000 after buying an additional 7,178 shares during the last quarter. 51.93% of the stock is currently owned by institutional investors.
Lancaster Colony Corp. (NASDAQ:LANC) traded up 1.09% during trading on Friday, hitting $132.14. 29,520 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $132.32 and its 200 day moving average price is $122.97. Lancaster Colony Corp. has a 12-month low of $95.47 and a 12-month high of $137.71. The stock has a market cap of $3.62 billion, a P/E ratio of 29.76 and a beta of 0.73.
Lancaster Colony Corp. (NASDAQ:LANC) last released its quarterly earnings results on Thursday, August 18th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.03 by $0.09. The business had revenue of $284.50 million for the quarter, compared to analyst estimates of $291.72 million. Lancaster Colony Corp. had a net margin of 10.22% and a return on equity of 23.29%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.93 earnings per share. Analysts anticipate that Lancaster Colony Corp. will post $4.62 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be given a $0.50 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $2.00 annualized dividend and a dividend yield of 1.53%. Lancaster Colony Corp.’s dividend payout ratio is presently 45.05%.
LANC has been the topic of a number of research analyst reports. Zacks Investment Research lowered Lancaster Colony Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Wedbush reissued a “neutral” rating and issued a $106.00 target price (down previously from $121.00) on shares of Lancaster Colony Corp. in a research report on Friday, August 19th. Finally, DA Davidson boosted their price target on shares of Lancaster Colony Corp. from $120.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th.
About Lancaster Colony Corp.
Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice markets. The Company is focused on its specialty foods segment. It manufactures and sells a range of food products, including salad dressings and sauces; fruit glazes, vegetable dips and fruit dips; Greek yogurt vegetable dips and hummus; frozen garlic breads; frozen Parkerhouse style yeast dinner rolls and sweet rolls, as well as biscuits; dry egg noodles; croutons and related products; snack sticks and flatbread wraps and pizza crusts.
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