Dimensional Fund Advisors LP Has $98.33 Million Position in Lancaster Colony Co. (NASDAQ:LANC)

Dimensional Fund Advisors LP grew its position in Lancaster Colony Co. (NASDAQ:LANC) by 5.1% during the 2nd quarter, Holdings Channel reports. The firm owned 520,335 shares of the company’s stock after purchasing an additional 25,072 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Lancaster Colony were worth $98,326,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LANC. Opal Wealth Advisors LLC bought a new position in Lancaster Colony during the 2nd quarter valued at about $28,000. GAMMA Investing LLC boosted its holdings in shares of Lancaster Colony by 115.9% in the 2nd quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock worth $33,000 after acquiring an additional 95 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Lancaster Colony during the 2nd quarter worth approximately $38,000. Brown Brothers Harriman & Co. acquired a new stake in Lancaster Colony during the 4th quarter valued at $67,000. Finally, Clarity Asset Management Inc. bought a new position in Lancaster Colony in the 4th quarter valued at $70,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on LANC. Stephens decreased their target price on Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd. Benchmark reissued a “hold” rating on shares of Lancaster Colony in a report on Wednesday, September 18th. StockNews.com downgraded shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Loop Capital decreased their price target on shares of Lancaster Colony from $236.00 to $232.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $195.75.

Insider Transactions at Lancaster Colony

In related news, Director Elliot K. Fullen acquired 3,000 shares of the company’s stock in a transaction that occurred on 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 completion of the acquisition, the director now owns 5,298 shares of the company’s stock, valued at approximately $895,362. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 29.60% of the stock is owned by corporate insiders.

Lancaster Colony Stock Down 0.7 %

Shares of LANC stock opened at $178.80 on Wednesday. Lancaster Colony Co. has a 12 month low of $160.01 and a 12 month high of $215.31. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 37.10 and a beta of 0.35. The stock has a 50-day moving average price of $183.57 and a 200 day moving average price of $189.25.

Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.06). Lancaster Colony had a return on equity of 19.61% and a net margin of 8.47%. The business had revenue of $452.83 million for the quarter, compared to analyst estimates of $462.70 million. Sell-side analysts predict that Lancaster Colony Co. will post 6.96 earnings per share for the current fiscal year.

Lancaster Colony Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, September 9th. Lancaster Colony’s payout ratio is 74.69%.

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.