Hsbc Holdings PLC Has $493,000 Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Hsbc Holdings PLC grew its stake in Lancaster Colony Co. (NASDAQ:LANC) by 62.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,617 shares of the company’s stock after purchasing an additional 1,010 shares during the period. Hsbc Holdings PLC’s holdings in Lancaster Colony were worth $493,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Consolidated Planning Corp grew its position in Lancaster Colony by 4.5% during the second quarter. Consolidated Planning Corp now owns 1,232 shares of the company’s stock worth $233,000 after buying an additional 53 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Lancaster Colony by 6.5% during the 1st quarter. UMB Bank n.a. now owns 952 shares of the company’s stock worth $198,000 after purchasing an additional 58 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of Lancaster Colony by 0.3% during the first quarter. Retirement Systems of Alabama now owns 25,570 shares of the company’s stock valued at $5,309,000 after purchasing an additional 67 shares during the period. GAMMA Investing LLC raised its stake in shares of Lancaster Colony by 115.9% in the second quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock valued at $33,000 after purchasing an additional 95 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in Lancaster Colony by 1.9% in the second quarter. Arizona State Retirement System now owns 5,393 shares of the company’s stock worth $1,019,000 after purchasing an additional 99 shares during the period. Institutional investors own 66.44% of the company’s stock.

Lancaster Colony Stock Down 1.2 %

Shares of Lancaster Colony stock opened at $176.57 on Tuesday. Lancaster Colony Co. has a 12-month low of $160.01 and a 12-month high of $215.31. The stock has a market capitalization of $4.86 billion, a P/E ratio of 36.67 and a beta of 0.35. The company has a 50-day simple moving average of $183.03 and a 200 day simple moving average of $188.75.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.41 by ($0.06). The firm had revenue of $452.83 million for the quarter, compared to analyst estimates of $462.70 million. Lancaster Colony had a return on equity of 19.61% and a net margin of 8.47%. On average, equities analysts anticipate that Lancaster Colony Co. will post 6.96 earnings per share for the current year.

Lancaster Colony Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Monday, September 9th. Lancaster Colony’s dividend payout ratio is currently 74.69%.

Analyst Ratings Changes

LANC has been the topic of several analyst reports. Benchmark reissued a “hold” rating on shares of Lancaster Colony in a report on Wednesday, September 18th. StockNews.com lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Stephens cut their price target on shares of Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. Finally, Loop Capital lowered their price objective on 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 equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $195.75.

Insiders Place Their Bets

In other Lancaster Colony news, Director Elliot K. Fullen bought 3,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the completion of the purchase, the director now owns 5,298 shares in the company, valued at approximately $895,362. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 29.60% of the company’s stock.

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.