Point72 Asia Singapore Pte. Ltd. Makes New $74,000 Investment in Lancaster Colony Co. (NASDAQ:LANC)

Point72 Asia Singapore Pte. Ltd. bought a new stake in Lancaster Colony Co. (NASDAQ:LANC) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 394 shares of the company’s stock, valued at approximately $74,000.

Other large investors have also modified their holdings of the company. Blair William & Co. IL lifted its holdings in shares of Lancaster Colony by 2,386.6% in the 2nd quarter. Blair William & Co. IL now owns 172,075 shares of the company’s stock valued at $32,517,000 after buying an additional 165,155 shares during the period. Vanguard Group Inc. grew its holdings in shares of Lancaster Colony by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,186,162 shares of the company’s stock worth $453,913,000 after acquiring an additional 85,658 shares during the period. F M Investments LLC purchased a new position in Lancaster Colony in the 2nd quarter valued at approximately $7,997,000. Millennium Management LLC raised its holdings in Lancaster Colony by 1,055.2% during the second quarter. Millennium Management LLC now owns 36,090 shares of the company’s stock worth $6,820,000 after purchasing an additional 32,966 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Lancaster Colony by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 520,335 shares of the company’s stock worth $98,326,000 after purchasing an additional 25,072 shares in the last quarter. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Stephens cut their price target on 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. StockNews.com cut shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Loop Capital cut their price objective on Lancaster Colony from $236.00 to $232.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Finally, Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a report on Wednesday, September 18th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $195.75.

Insider Buying and Selling

In related news, Director Elliot K. Fullen acquired 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, with a total value of $507,000.00. Following the purchase, the director now directly owns 5,298 shares of the company’s stock, valued at approximately $895,362. This represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 29.60% of the company’s stock.

Lancaster Colony Price Performance

Shares of NASDAQ LANC opened at $176.91 on Friday. The company has a 50-day simple moving average of $182.04 and a 200-day simple moving average of $188.12. The company has a market cap of $4.87 billion, a PE ratio of 36.70 and a beta of 0.35. Lancaster Colony Co. has a 12 month low of $160.01 and a 12 month high of $215.31.

Lancaster Colony (NASDAQ:LANC) last released its 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 firm had revenue of $452.83 million during the quarter, compared to analysts’ expectations of $462.70 million. On average, analysts anticipate that Lancaster Colony Co. will post 6.96 EPS for the current year.

Lancaster Colony Announces Dividend

The firm also recently declared 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 2.03%. The ex-dividend date of this dividend was Monday, September 9th. Lancaster Colony’s payout ratio is 74.69%.

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.