Vanguard Personalized Indexing Management LLC Grows Position in Lancaster Colony Co. (NASDAQ:LANC)

Vanguard Personalized Indexing Management LLC grew its stake in Lancaster Colony Co. (NASDAQ:LANC) by 11.1% during the 2nd quarter, Holdings Channel reports. The fund owned 3,267 shares of the company’s stock after acquiring an additional 326 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Lancaster Colony were worth $617,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new position in Lancaster Colony in the 2nd quarter valued at about $28,000. GAMMA Investing LLC lifted its stake 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 buying an additional 95 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Lancaster Colony during the second quarter valued at approximately $38,000. Brown Brothers Harriman & Co. acquired a new stake in Lancaster Colony during the fourth quarter worth approximately $67,000. Finally, Clarity Asset Management Inc. purchased a new stake in Lancaster Colony in the 4th quarter worth approximately $70,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Insider Activity

In related news, Director Elliot K. Fullen purchased 3,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the acquisition, the director now owns 5,298 shares in the company, valued at $895,362. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 29.60% of the company’s stock.

Lancaster Colony Price Performance

Shares of NASDAQ:LANC opened at $177.68 on Thursday. The business has a 50-day moving average of $183.31 and a two-hundred day moving average of $189.17. The firm has a market capitalization of $4.89 billion, a PE ratio of 36.86 and a beta of 0.35. Lancaster Colony Co. has a 12 month low of $160.01 and a 12 month high of $215.31.

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

Lancaster Colony Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be paid 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 dividend payout ratio is presently 74.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on LANC shares. Loop Capital lowered their price objective on Lancaster Colony from $236.00 to $232.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Benchmark restated a “hold” rating on shares of Lancaster Colony in a report on Wednesday, September 18th. StockNews.com lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Stephens lowered 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 report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $195.75.

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.