Mutual of America Capital Management LLC Sells 469 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Mutual of America Capital Management LLC lowered its position in Lancaster Colony Co. (NASDAQ:LANC) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,664 shares of the company’s stock after selling 469 shares during the period. Mutual of America Capital Management LLC’s holdings in Lancaster Colony were worth $2,204,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in shares of Lancaster Colony during the second quarter valued at approximately $28,000. GAMMA Investing LLC increased its position in Lancaster Colony by 115.9% during the 2nd quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock valued at $33,000 after buying an additional 95 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Lancaster Colony during the second quarter valued at $38,000. Brown Brothers Harriman & Co. bought a new stake in Lancaster Colony in the fourth quarter worth $67,000. Finally, Clarity Asset Management Inc. purchased a new stake in shares of Lancaster Colony in the fourth quarter worth $70,000. Institutional investors own 66.44% of the company’s stock.

Lancaster Colony Price Performance

NASDAQ LANC opened at $177.68 on Thursday. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 36.86 and a beta of 0.35. Lancaster Colony Co. has a 1-year low of $160.01 and a 1-year high of $215.31. The business’s fifty day moving average price is $183.31 and its 200-day moving average price is $189.17.

Lancaster Colony (NASDAQ:LANC) last posted its earnings results on Thursday, August 22nd. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.06). The firm had revenue of $452.83 million during the quarter, compared to the consensus estimate of $462.70 million. Lancaster Colony had a net margin of 8.47% and a return on equity of 19.61%. Equities research analysts anticipate that Lancaster Colony Co. will post 6.96 EPS for the current year.

Lancaster Colony Dividend Announcement

The firm also recently disclosed 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 2.03%. The ex-dividend date of this dividend is Monday, September 9th. Lancaster Colony’s payout ratio is 74.69%.

Insider Activity at Lancaster Colony

In other Lancaster Colony news, Director Elliot K. Fullen purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were acquired at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the completion of the transaction, the director now owns 5,298 shares of the company’s stock, valued at $895,362. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 29.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a research report on Wednesday, September 18th. StockNews.com downgraded shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Loop Capital reduced their price target on shares of Lancaster Colony from $236.00 to $232.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Finally, Stephens lowered their price objective on Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Friday, August 23rd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $195.75.

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.