Lancaster Colony Co. (NASDAQ:LANC) Shares Sold by Park National Corp OH

Park National Corp OH lowered its position in Lancaster Colony Co. (NASDAQ:LANC) by 1.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 11,000 shares of the company’s stock after selling 115 shares during the period. Park National Corp OH’s holdings in Lancaster Colony were worth $2,284,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new position in shares of Lancaster Colony in the 4th quarter valued at about $67,000. Clarity Asset Management Inc. purchased a new stake in Lancaster Colony during the fourth quarter worth $70,000. Principal Securities Inc. purchased a new stake in shares of Lancaster Colony in the fourth quarter valued at $129,000. UMB Bank n.a. lifted its position in shares of Lancaster Colony by 11.8% in the fourth quarter. UMB Bank n.a. now owns 894 shares of the company’s stock valued at $149,000 after acquiring an additional 94 shares in the last quarter. Finally, TFO Wealth Partners LLC lifted its position in Lancaster Colony by 92,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 928 shares of the company’s stock worth $166,000 after buying an additional 927 shares during the period. 66.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on LANC. Stephens restated an “equal weight” rating and set a $218.00 price target on shares of Lancaster Colony in a research note on Friday, May 3rd. StockNews.com raised Lancaster Colony from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Lancaster Colony has a consensus rating of “Hold” and a consensus target price of $198.75.

Lancaster Colony Stock Down 0.3 %

Shares of Lancaster Colony stock opened at $187.90 on Wednesday. The stock has a market cap of $5.17 billion, a PE ratio of 38.98 and a beta of 0.37. The business has a fifty day simple moving average of $189.34 and a 200-day simple moving average of $187.19. Lancaster Colony Co. has a 12 month low of $158.88 and a 12 month high of $215.31.

Lancaster Colony (NASDAQ:LANC) last issued its earnings results on Thursday, May 2nd. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.42 by $0.02. The business had revenue of $471.40 million during the quarter, compared to analysts’ expectations of $467.90 million. Lancaster Colony had a return on equity of 18.96% and a net margin of 7.10%. Lancaster Colony’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 earnings per share. Analysts expect that Lancaster Colony Co. will post 6.45 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.90 per share. The ex-dividend date is Friday, June 7th. This represents a $3.60 dividend on an annualized basis and a yield of 1.92%. Lancaster Colony’s payout ratio is 74.69%.

Lancaster Colony Company Profile

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.