Algert Global LLC Sells 4,558 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Algert Global LLC cut its stake in shares of Lancaster Colony Co. (NASDAQ:LANC) by 14.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,746 shares of the company’s stock after selling 4,558 shares during the period. Algert Global LLC owned 0.10% of Lancaster Colony worth $5,243,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. UBS Group AG grew its stake in shares of Lancaster Colony by 4.7% in the fourth quarter. UBS Group AG now owns 45,791 shares of the company’s stock valued at $7,619,000 after buying an additional 2,069 shares in the last quarter. US Bancorp DE grew its position in shares of Lancaster Colony by 13.5% in the 4th quarter. US Bancorp DE now owns 7,931 shares of the company’s stock valued at $1,320,000 after acquiring an additional 941 shares during the period. TFO Wealth Partners LLC increased its stake in shares of 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 during the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Lancaster Colony in the 4th quarter valued at about $67,000. Finally, Point72 Europe London LLP bought a new stake in shares of Lancaster Colony in the 4th quarter valued at about $561,000. 66.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Benchmark reissued a “hold” rating on shares of Lancaster Colony in a research report on Wednesday, September 18th. Loop Capital decreased 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, August 26th. Stephens cut their price target on Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd. Finally, StockNews.com cut shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $195.75.

Insider Transactions at Lancaster Colony

In other news, Director Elliot K. Fullen acquired 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average price of $169.00 per share, with a total value of $507,000.00. Following the acquisition, the director now directly owns 5,298 shares in the company, valued at approximately $895,362. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 29.60% of the company’s stock.

Lancaster Colony Stock Down 0.3 %

NASDAQ:LANC opened at $178.72 on Monday. Lancaster Colony Co. has a twelve month low of $160.01 and a twelve month high of $215.31. The stock’s 50-day simple moving average is $183.03 and its 200 day simple moving average is $188.83. The firm has a market capitalization of $4.92 billion, a PE ratio of 37.08 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly 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 company had revenue of $452.83 million during the quarter, compared to analyst estimates of $462.70 million. Lancaster Colony had a net margin of 8.47% and a return on equity of 19.61%. On average, analysts anticipate that Lancaster Colony Co. will post 6.96 EPS for the current fiscal year.

Lancaster Colony Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.01%. Lancaster Colony’s payout ratio is presently 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.