Squarepoint Ops LLC Increases Stake in Lancaster Colony Co. (NASDAQ:LANC)

Squarepoint Ops LLC increased its holdings in Lancaster Colony Co. (NASDAQ:LANC) by 55.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,519 shares of the company’s stock after purchasing an additional 11,631 shares during the period. Squarepoint Ops LLC’s holdings in Lancaster Colony were worth $6,145,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Consolidated Planning Corp boosted its stake in shares of Lancaster Colony by 4.5% in the 2nd quarter. Consolidated Planning Corp now owns 1,232 shares of the company’s stock valued at $233,000 after purchasing an additional 53 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Lancaster Colony by 6.5% in the 1st quarter. UMB Bank n.a. now owns 952 shares of the company’s stock valued at $198,000 after purchasing an additional 58 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Lancaster Colony by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 25,570 shares of the company’s stock valued at $5,309,000 after purchasing an additional 67 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Lancaster Colony by 0.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 15,179 shares of the company’s stock valued at $2,868,000 after buying an additional 87 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings 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 during the last quarter. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Lancaster Colony Trading Down 0.3 %

Shares of NASDAQ LANC opened at $178.72 on Monday. Lancaster Colony Co. has a 12 month low of $160.01 and a 12 month high of $215.31. The firm has a market capitalization of $4.92 billion, a PE ratio of 37.08 and a beta of 0.35. The firm has a fifty day simple moving average of $183.03 and a two-hundred day simple moving average of $188.83.

Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.06). Lancaster Colony had a return on equity of 19.61% and a net margin of 8.47%. The company had revenue of $452.83 million during the quarter, compared to the consensus estimate of $462.70 million. On average, sell-side analysts predict that Lancaster Colony Co. will post 6.96 earnings per share for the current year.

Lancaster Colony Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a $0.90 dividend. The ex-dividend date is Monday, September 9th. This represents a $3.60 annualized dividend and a dividend yield of 2.01%. Lancaster Colony’s payout ratio is 74.69%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LANC. Benchmark reiterated 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. Loop Capital lowered their price target on shares of Lancaster Colony from $236.00 to $232.00 and set a “buy” rating for the company in a report on Monday, August 26th. Finally, Stephens lowered their price target 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 investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $195.75.

Insider Buying and Selling

In other Lancaster Colony news, Director Elliot K. Fullen purchased 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the purchase, the director now directly 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. 29.60% of the stock is owned by company insiders.

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.