Louisiana State Employees Retirement System Sells 100 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Louisiana State Employees Retirement System lowered its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,800 shares of the company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Lancaster Colony were worth $1,096,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Lancaster Colony by 1.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,127 shares of the company’s stock valued at $687,000 after purchasing an additional 55 shares during the period. UMB Bank n.a. grew its position in Lancaster Colony by 6.5% in the first quarter. UMB Bank n.a. now owns 952 shares of the company’s stock valued at $198,000 after acquiring an additional 58 shares during the period. Retirement Systems of Alabama raised its stake in Lancaster Colony by 0.3% during the first quarter. Retirement Systems of Alabama now owns 25,570 shares of the company’s stock worth $5,309,000 after acquiring an additional 67 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Lancaster Colony by 115.9% during the second quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock valued at $33,000 after acquiring an additional 95 shares during the period. Finally, State of Michigan Retirement System boosted its stake in shares of Lancaster Colony by 2.0% in the 1st quarter. State of Michigan Retirement System now owns 5,032 shares of the company’s stock valued at $1,045,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.44% of the company’s stock.

Lancaster Colony Stock Down 2.1 %

Shares of NASDAQ:LANC opened at $167.65 on Wednesday. Lancaster Colony Co. has a 12 month low of $158.88 and a 12 month high of $215.31. The firm has a market cap of $4.61 billion, a P/E ratio of 34.78 and a beta of 0.37. The company’s 50-day moving average price is $188.01 and its two-hundred day moving average price is $192.44.

Lancaster Colony Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Monday, September 9th. Lancaster Colony’s dividend payout ratio is currently 74.69%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LANC shares. Stephens dropped their target price on shares of Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd. StockNews.com cut shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Loop Capital reduced their target price on Lancaster Colony from $236.00 to $232.00 and set a “buy” rating on the stock in a report on Monday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $195.75.

About Lancaster Colony

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.