LS Investment Advisors LLC boosted its position in shares of Lancaster Colony Corp. (NASDAQ:LANC) by 75.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,177 shares of the company’s stock after buying an additional 505 shares during the period. LS Investment Advisors LLC’s holdings in Lancaster Colony Corp. were worth $150,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Invictus RG purchased a new stake in Lancaster Colony Corp. during the first quarter worth $180,000. Capstone Asset Management Co. increased its position in Lancaster Colony Corp. by 5.7% in the second quarter. Capstone Asset Management Co. now owns 2,072 shares of the company’s stock valued at $264,000 after buying an additional 111 shares in the last quarter. Virginia Retirement System bought a new position in Lancaster Colony Corp. during the first quarter valued at approximately $265,000. First Republic Investment Management Inc. increased its position in Lancaster Colony Corp. by 1.3% in the first quarter. First Republic Investment Management Inc. now owns 4,865 shares of the company’s stock valued at $538,000 after buying an additional 64 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. increased its position in Lancaster Colony Corp. by 55.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 5,550 shares of the company’s stock valued at $708,000 after buying an additional 1,980 shares in the last quarter. Institutional investors and hedge funds own 51.93% of the company’s stock.
Lancaster Colony Corp. (NASDAQ:LANC) traded up 1.05% during mid-day trading on Friday, hitting $132.09. The company had a trading volume of 175,503 shares. The stock has a market capitalization of $3.62 billion, a PE ratio of 29.75 and a beta of 0.73. The stock has a 50 day moving average price of $132.36 and a 200-day moving average price of $123.15. Lancaster Colony Corp. has a 1-year low of $95.78 and a 1-year high of $137.71.
Lancaster Colony Corp. (NASDAQ:LANC) last issued its earnings results on Thursday, August 18th. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.09. The company earned $284.50 million during the quarter, compared to the consensus estimate of $291.72 million. Lancaster Colony Corp. had a net margin of 10.22% and a return on equity of 23.29%. Lancaster Colony Corp.’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.93 EPS. On average, analysts forecast that Lancaster Colony Corp. will post $4.62 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 9th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Wednesday, September 7th. Lancaster Colony Corp.’s dividend payout ratio is currently 45.05%.
LANC has been the topic of several analyst reports. Zacks Investment Research downgraded Lancaster Colony Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. DA Davidson lifted their price objective on Lancaster Colony Corp. from $120.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Finally, Wedbush reiterated a “neutral” rating and issued a $106.00 price objective (down previously from $121.00) on shares of Lancaster Colony Corp. in a report on Friday, August 19th.
Lancaster Colony Corp. Company Profile
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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