Sanctuary Advisors LLC Acquires 912 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Sanctuary Advisors LLC raised its holdings in Lancaster Colony Co. (NASDAQ:LANC) by 35.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,480 shares of the company’s stock after acquiring an additional 912 shares during the quarter. Sanctuary Advisors LLC’s holdings in Lancaster Colony were worth $649,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in shares of Lancaster Colony in the third quarter worth about $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Lancaster Colony in the 2nd quarter valued at about $74,000. nVerses Capital LLC bought a new position in Lancaster Colony in the 2nd quarter worth about $113,000. UMB Bank n.a. increased its position in shares of Lancaster Colony by 10.8% during the third 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 period. Finally, Olympiad Research LP bought a new stake in shares of Lancaster Colony during the third quarter valued at approximately $210,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Lancaster Colony Stock Up 0.4 %

Shares of LANC stock opened at $178.04 on Wednesday. The company’s 50 day moving average is $184.78 and its 200 day moving average is $184.20. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 30.80 and a beta of 0.35. Lancaster Colony Co. has a 52-week low of $162.21 and a 52-week high of $215.31.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.08). Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The company had revenue of $466.56 million during the quarter, compared to the consensus estimate of $468.36 million. During the same period in the previous year, the firm posted $1.70 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis. Analysts anticipate that Lancaster Colony Co. will post 6.7 EPS for the current fiscal year.

Lancaster Colony Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th will be given a $0.95 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.13%. This is an increase from Lancaster Colony’s previous quarterly dividend of $0.90. Lancaster Colony’s payout ratio is presently 65.74%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Stephens reissued an “equal weight” rating and issued a $196.00 price objective on shares of Lancaster Colony in a research note on Tuesday, November 19th. Loop Capital dropped their price target on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Benchmark restated a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th.

About Lancaster Colony

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.