Tidal Investments LLC Decreases Stock Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Tidal Investments LLC lowered its stake in shares of Lancaster Colony Co. (NASDAQ:LANC) by 36.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,952 shares of the company’s stock after selling 1,124 shares during the period. Tidal Investments LLC’s holdings in Lancaster Colony were worth $345,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

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

Lancaster Colony Stock Up 0.4 %

Shares of LANC opened at $178.04 on Wednesday. The business has a 50-day simple moving average of $184.78 and a two-hundred day simple moving average of $184.20. Lancaster Colony Co. has a 52 week low of $162.21 and a 52 week high of $215.31. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 30.80 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last released its earnings results on Thursday, October 31st. The company reported $1.62 earnings per share (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 firm had revenue of $466.56 million during the quarter, compared to analysts’ expectations of $468.36 million. During the same period in the prior year, the company posted $1.70 earnings per share. The company’s revenue was up 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Lancaster Colony Co. will post 6.7 earnings per share for the current fiscal year.

Lancaster Colony Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, December 5th will be paid a dividend of $0.95 per share. 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. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.13%. Lancaster Colony’s payout ratio is 65.74%.

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.