Virtu Financial LLC Makes New $369,000 Investment in Lancaster Colony Co. (NASDAQ:LANC)

Virtu Financial LLC acquired a new stake in Lancaster Colony Co. (NASDAQ:LANC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,220 shares of the company’s stock, valued at approximately $369,000.

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

Analysts Set New Price Targets

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

Lancaster Colony Stock Performance

LANC opened at $187.90 on Thursday. The company’s 50-day simple moving average is $189.13 and its two-hundred day simple moving average is $187.20. Lancaster Colony Co. has a 52-week low of $158.88 and a 52-week high of $215.31. The stock has a market capitalization of $5.17 billion, a P/E ratio of 38.98 and a beta of 0.37.

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

Lancaster Colony Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.90 dividend. The ex-dividend date is Friday, June 7th. This represents a $3.60 annualized dividend and a dividend yield of 1.92%. Lancaster Colony’s dividend payout ratio (DPR) is 74.69%.

Lancaster Colony 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.