Integrated Wealth Concepts LLC Sells 168 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Integrated Wealth Concepts LLC decreased its stake in Lancaster Colony Co. (NASDAQ:LANC) by 11.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,269 shares of the company’s stock after selling 168 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Lancaster Colony were worth $224,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new stake in shares of Lancaster Colony during the third quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Lancaster Colony during the 2nd quarter worth approximately $74,000. nVerses Capital LLC bought a new stake in Lancaster Colony during the 2nd quarter worth approximately $113,000. UMB Bank n.a. grew its holdings in Lancaster Colony by 10.8% during the 3rd quarter. UMB Bank n.a. now owns 1,055 shares of the company’s stock worth $186,000 after acquiring an additional 103 shares during the last quarter. Finally, Olympiad Research LP acquired a new position in Lancaster Colony in the 3rd quarter valued at approximately $210,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LANC. StockNews.com cut shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. Loop Capital lowered their price objective on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Stephens reiterated an “equal weight” rating and issued a $196.00 target price on shares of Lancaster Colony in a report on Tuesday, November 19th.

Lancaster Colony Stock Up 0.8 %

Shares of NASDAQ LANC opened at $198.10 on Friday. The company has a market capitalization of $5.46 billion, a PE ratio of 34.27 and a beta of 0.35. Lancaster Colony Co. has a twelve month low of $161.54 and a twelve month high of $215.31. The firm has a fifty day simple moving average of $183.80 and a 200 day simple moving average of $184.14.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.08). Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The business had revenue of $466.56 million during the quarter, compared to analyst estimates of $468.36 million. During the same period in the prior year, the firm earned $1.70 earnings per share. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities analysts expect that Lancaster Colony Co. will post 6.7 earnings per share for the current fiscal year.

Lancaster Colony Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.92%. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, December 5th. Lancaster Colony’s dividend payout ratio is presently 65.74%.

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.