Thrivent Financial for Lutherans Trims Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Thrivent Financial for Lutherans cut its stake in Lancaster Colony Co. (NASDAQ:LANC) by 1.1% in the second quarter, Holdings Channel.com reports. The fund owned 487,615 shares of the company’s stock after selling 5,390 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Lancaster Colony were worth $92,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. lifted its position in Lancaster Colony by 0.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 15,179 shares of the company’s stock valued at $2,868,000 after acquiring an additional 87 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Lancaster Colony in the second quarter valued at $1,021,000. Inspire Investing LLC lifted its position in Lancaster Colony by 8.2% in the second quarter. Inspire Investing LLC now owns 1,863 shares of the company’s stock valued at $352,000 after acquiring an additional 141 shares during the last quarter. XTX Topco Ltd purchased a new stake in Lancaster Colony in the second quarter valued at $496,000. Finally, Hsbc Holdings PLC lifted its position in Lancaster Colony by 62.9% in the second quarter. Hsbc Holdings PLC now owns 2,617 shares of the company’s stock valued at $493,000 after acquiring an additional 1,010 shares during the last quarter. 66.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Elliot K. Fullen purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average price of $169.00 per share, for a total transaction of $507,000.00. Following the acquisition, the director now directly owns 5,298 shares of the company’s stock, valued at approximately $895,362. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 29.60% of the company’s stock.

Lancaster Colony Stock Performance

Shares of NASDAQ:LANC opened at $181.80 on Friday. The company has a 50-day simple moving average of $183.90 and a 200-day simple moving average of $189.72. Lancaster Colony Co. has a one year low of $160.01 and a one year high of $215.31. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 37.72 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.06). The business had revenue of $452.83 million during the quarter, compared to analysts’ expectations of $462.70 million. Lancaster Colony had a net margin of 8.47% and a return on equity of 19.61%. As a group, research analysts forecast that Lancaster Colony Co. will post 6.96 EPS for the current fiscal year.

Lancaster Colony Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.98%. The ex-dividend date is Monday, September 9th. Lancaster Colony’s payout ratio is 74.69%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LANC. Benchmark reissued a “hold” rating on shares of Lancaster Colony in a research report on Wednesday. Stephens reduced their target price on shares of Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd. StockNews.com cut shares of Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Loop Capital reduced their target price on shares of Lancaster Colony from $236.00 to $232.00 and set a “buy” rating for the company in a report on Monday, August 26th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $195.75.

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.