Vanguard Group Inc. boosted its position in Lancaster Colony Corp. (NASDAQ:LANC) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,689,617 shares of the company’s stock after buying an additional 83,431 shares during the period. Vanguard Group Inc. owned approximately 6.16% of Lancaster Colony Corp. worth $215,611,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of LANC. Fuller & Thaler Asset Management Inc. purchased a new position in Lancaster Colony Corp. during the second quarter worth about $115,000. LS Investment Advisors LLC increased its position in Lancaster Colony Corp. by 75.1% in the second quarter. LS Investment Advisors LLC now owns 1,177 shares of the company’s stock worth $150,000 after buying an additional 505 shares during the last quarter. Oakbrook Investments LLC purchased a new position in Lancaster Colony Corp. during the second quarter worth about $204,000. Invictus RG purchased a new position in Lancaster Colony Corp. during the first quarter worth about $180,000. Finally, National Planning Corp purchased a new position in Lancaster Colony Corp. during the second quarter worth about $244,000. 51.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lancaster Colony Corp. (NASDAQ:LANC) opened at 132.64 on Friday. Lancaster Colony Corp. has a 12 month low of $95.78 and a 12 month high of $137.71. The company’s 50-day moving average price is $132.78 and its 200-day moving average price is $124.82. The company has a market cap of $3.64 billion, a P/E ratio of 29.87 and a beta of 0.81.
Lancaster Colony Corp. (NASDAQ:LANC) last posted its earnings results on Thursday, August 18th. The company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.09. Lancaster Colony Corp. had a return on equity of 23.29% and a net margin of 10.22%. The company had revenue of $284.50 million for the quarter, compared to the consensus estimate of $291.72 million. During the same quarter in the previous year, the business earned $0.93 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts forecast that Lancaster Colony Corp. will post $4.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 9th were given a $0.50 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $2.00 dividend on an annualized basis and a yield of 1.51%. Lancaster Colony Corp.’s dividend payout ratio is currently 45.05%.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Lancaster Colony Corp. from a “hold” rating to a “strong-buy” rating and set a $147.00 price target on the stock in a research report on Wednesday, July 13th. Wedbush reissued a “neutral” rating and set a $106.00 price target (down previously from $121.00) on shares of Lancaster Colony Corp. in a research report on Friday, August 19th. Finally, DA Davidson raised their price objective on Lancaster Colony Corp. from $120.00 to $128.00 and gave the company a “neutral” rating in a research report 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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