Xponance Inc. Decreases Stock Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Xponance Inc. cut its stake in Lancaster Colony Co. (NASDAQ:LANC) by 5.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,704 shares of the company’s stock after selling 170 shares during the period. Xponance Inc.’s holdings in Lancaster Colony were worth $511,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. raised its stake in shares of Lancaster Colony by 0.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 16,017 shares of the company’s stock worth $3,027,000 after buying an additional 128 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased 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 acquiring an additional 87 shares in the last quarter. Intech Investment Management LLC acquired a new position in Lancaster Colony during the second quarter worth about $1,021,000. Inspire Investing LLC lifted its holdings in shares of Lancaster Colony by 8.2% in the second quarter. Inspire Investing LLC now owns 1,863 shares of the company’s stock valued at $352,000 after purchasing an additional 141 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Lancaster Colony during the 2nd quarter valued at $496,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lancaster Colony

In other news, Director Elliot K. Fullen bought 3,000 shares of Lancaster Colony stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average cost of $169.00 per share, with a total value of $507,000.00. Following the completion of the transaction, the director now owns 5,298 shares in the company, valued at approximately $895,362. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 29.60% of the stock is owned by corporate insiders.

Lancaster Colony Stock Down 1.2 %

LANC opened at $176.57 on Tuesday. The company has a 50 day moving average of $183.03 and a two-hundred day moving average of $188.75. Lancaster Colony Co. has a 52-week low of $160.01 and a 52-week high of $215.31. The company has a market cap of $4.86 billion, a P/E ratio of 36.63 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Research analysts anticipate that Lancaster Colony Co. will post 6.96 earnings per share for the current year.

Lancaster Colony Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Monday, September 9th. Lancaster Colony’s dividend payout ratio is presently 74.69%.

Analyst Upgrades and Downgrades

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