Public Employees Retirement System of Ohio Buys 549 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Public Employees Retirement System of Ohio boosted its position in Lancaster Colony Co. (NASDAQ:LANC) by 5.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,914 shares of the company’s stock after buying an additional 549 shares during the period. Public Employees Retirement System of Ohio’s holdings in Lancaster Colony were worth $1,751,000 at the end of the most recent quarter.

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

Lancaster Colony Stock Down 3.6 %

Lancaster Colony stock opened at $182.34 on Thursday. The company has a market capitalization of $5.03 billion, a P/E ratio of 31.55 and a beta of 0.35. The firm has a 50 day moving average price of $184.73 and a 200-day moving average price of $184.35. Lancaster Colony Co. has a twelve month low of $161.54 and a twelve month high of $215.31.

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). The firm had revenue of $466.56 million during the quarter, compared to the consensus estimate of $468.36 million. Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The company’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.70 earnings per share. Equities analysts expect that Lancaster Colony Co. will post 6.7 EPS for the current fiscal year.

Lancaster Colony Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, December 5th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This is an increase from Lancaster Colony’s previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a yield of 2.08%. Lancaster Colony’s dividend payout ratio (DPR) is 65.74%.

Analyst Ratings Changes

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

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.