Wellington Management Group LLP Boosts Stake in Lancaster Colony Co. (NASDAQ:LANC)

Wellington Management Group LLP lifted its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,371 shares of the company’s stock after acquiring an additional 434 shares during the quarter. Wellington Management Group LLP owned 0.12% of Lancaster Colony worth $5,386,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Lancaster Colony by 1.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,127 shares of the company’s stock worth $687,000 after purchasing an additional 55 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Lancaster Colony by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 25,503 shares of the company’s stock worth $4,243,000 after buying an additional 73 shares during the last quarter. UMB Bank n.a. raised its holdings in 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. State of Michigan Retirement System boosted its stake in Lancaster Colony by 2.1% during the 4th quarter. State of Michigan Retirement System now owns 4,932 shares of the company’s stock valued at $821,000 after acquiring an additional 100 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in Lancaster Colony by 2.9% during the 3rd quarter. Diversified Trust Co now owns 4,127 shares of the company’s stock worth $681,000 after acquiring an additional 115 shares in the last quarter. Institutional investors and hedge funds own 66.44% of the company’s stock.

Lancaster Colony Stock Up 0.6 %

LANC opened at $188.97 on Friday. The company’s 50-day moving average price is $188.67 and its 200 day moving average price is $188.14. Lancaster Colony Co. has a fifty-two week low of $158.88 and a fifty-two week high of $215.31. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 39.21 and a beta of 0.37.

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

Lancaster Colony Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Friday, June 7th. Lancaster Colony’s dividend payout ratio (DPR) is 74.69%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LANC shares. Stephens restated an “equal weight” rating and issued a $218.00 target price on shares of Lancaster Colony in a research note on Friday, May 3rd. StockNews.com upgraded Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $198.75.

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.