GAMMA Investing LLC grew its position in shares of Lancaster Colony Co. (NASDAQ:LANC – Free Report) by 56.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 280 shares of the company’s stock after purchasing an additional 101 shares during the quarter. GAMMA Investing LLC’s holdings in Lancaster Colony were worth $48,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of LANC. Commonwealth Equity Services LLC increased its position in shares of Lancaster Colony by 1.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 6,581 shares of the company’s stock valued at $1,244,000 after purchasing an additional 112 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Lancaster Colony by 26.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,015 shares of the company’s stock valued at $381,000 after acquiring an additional 420 shares during the period. American Century Companies Inc. boosted its holdings in Lancaster Colony by 8.7% during the 2nd quarter. American Century Companies Inc. now owns 11,564 shares of the company’s stock valued at $2,185,000 after acquiring an additional 925 shares during the period. Federated Hermes Inc. boosted its holdings in Lancaster Colony by 5.9% during the 2nd quarter. Federated Hermes Inc. now owns 2,230 shares of the company’s stock valued at $421,000 after acquiring an additional 125 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in Lancaster Colony by 10.3% during the 2nd quarter. Parallel Advisors LLC now owns 2,114 shares of the company’s stock valued at $399,000 after acquiring an additional 198 shares during the period. 66.44% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts recently weighed in on LANC shares. Stephens restated an “equal weight” rating and set a $196.00 target price on shares of Lancaster Colony in a report on Tuesday, November 19th. Loop Capital dropped their target price on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th.
Lancaster Colony Stock Performance
NASDAQ LANC opened at $168.09 on Tuesday. Lancaster Colony Co. has a fifty-two week low of $163.20 and a fifty-two week high of $215.31. The stock has a 50 day simple moving average of $182.82 and a two-hundred day simple moving average of $182.65. The stock has a market cap of $4.63 billion, a P/E ratio of 29.08 and a beta of 0.36.
Lancaster Colony (NASDAQ:LANC – Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.62 earnings per share 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 business had revenue of $466.56 million during the quarter, compared to analysts’ expectations of $468.36 million. During the same quarter last year, the business posted $1.70 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Sell-side analysts predict that Lancaster Colony Co. will post 6.7 earnings per share for the current year.
Lancaster Colony Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th were given a $0.95 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $3.80 annualized dividend and a dividend yield of 2.26%. This is a positive change from Lancaster Colony’s previous quarterly dividend of $0.90. Lancaster Colony’s dividend payout ratio is currently 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.
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