Tower Research Capital LLC TRC purchased a new stake in Lancaster Colony Corp. (NASDAQ:LANC) during the second quarter, Holdings Channel reports. The firm purchased 956 shares of the company’s stock, valued at approximately $122,000.
Other hedge funds have also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. bought a new position in shares of Lancaster Colony Corp. during the second quarter valued at approximately $115,000. LS Investment Advisors LLC increased its position in shares of Lancaster Colony Corp. by 75.1% in the second quarter. LS Investment Advisors LLC now owns 1,177 shares of the company’s stock valued at $150,000 after buying an additional 505 shares during the last quarter. Oakbrook Investments LLC bought a new position in shares of Lancaster Colony Corp. during the second quarter valued at approximately $204,000. Invictus RG bought a new position in shares of Lancaster Colony Corp. during the first quarter valued at approximately $180,000. Finally, National Planning Corp bought a new position in shares of Lancaster Colony Corp. during the second quarter valued at approximately $244,000. Institutional investors and hedge funds own 51.93% of the company’s stock.
Lancaster Colony Corp. (NASDAQ:LANC) opened at 132.71 on Wednesday. The stock’s 50 day moving average is $132.83 and its 200 day moving average is $124.53. Lancaster Colony Corp. has a 1-year low of $95.78 and a 1-year high of $137.71. The company has a market cap of $3.64 billion, a P/E ratio of 29.89 and a beta of 0.81.
Lancaster Colony Corp. (NASDAQ:LANC) last posted its quarterly earnings results on Thursday, August 18th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.09. Lancaster Colony Corp. had a net margin of 10.22% and a return on equity of 23.29%. The company had revenue of $284.50 million for the quarter, compared to analyst estimates of $291.72 million. During the same quarter in the previous year, the firm posted $0.93 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts anticipate that Lancaster Colony Corp. will post $4.67 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Wednesday, September 7th. Lancaster Colony Corp.’s dividend payout ratio (DPR) is currently 45.05%.
Several brokerages recently commented on LANC. Zacks Investment Research raised shares of Lancaster Colony Corp. from a “hold” rating to a “strong-buy” rating and set a $147.00 price objective for the company in a research note on Wednesday, July 13th. Wedbush reissued a “neutral” rating and issued a $106.00 price objective (down previously from $121.00) on shares of Lancaster Colony Corp. in a research note on Friday, August 19th. Finally, DA Davidson increased their price objective on shares of Lancaster Colony Corp. from $120.00 to $128.00 and gave the company 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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