SG Americas Securities LLC Has $947,000 Position in Lancaster Colony Co. (NASDAQ:LANC)

SG Americas Securities LLC cut its position in Lancaster Colony Co. (NASDAQ:LANC) by 33.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,363 shares of the company’s stock after selling 2,725 shares during the period. SG Americas Securities LLC’s holdings in Lancaster Colony were worth $947,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Capstone Investment Advisors LLC acquired a new stake in Lancaster Colony during the 1st quarter worth $864,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Lancaster Colony during the 1st quarter valued at about $868,000. Foguth Wealth Management LLC. acquired a new position in shares of Lancaster Colony in the 1st quarter valued at approximately $862,000. Leeward Investments LLC MA increased its stake in Lancaster Colony by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 51,981 shares of the company’s stock worth $9,823,000 after purchasing an additional 2,771 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in Lancaster Colony during the 2nd quarter worth approximately $658,000. 66.44% of the stock is owned by institutional investors.

Insider Transactions at Lancaster Colony

In other news, Director Elliot K. Fullen bought 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was acquired at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the purchase, the director now owns 5,298 shares of the company’s stock, valued at approximately $895,362. This trade represents a 100.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 29.60% of the stock is owned by company insiders.

Lancaster Colony Stock Performance

LANC opened at $180.28 on Friday. The business’s 50-day simple moving average is $181.18 and its 200 day simple moving average is $187.45. Lancaster Colony Co. has a 52-week low of $160.01 and a 52-week high of $215.31. The firm has a market capitalization of $4.96 billion, a PE ratio of 37.40 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.06). Lancaster Colony had a return on equity of 19.61% and a net margin of 8.47%. The company had revenue of $452.83 million for the quarter, compared to the consensus estimate of $462.70 million. On average, research analysts forecast that Lancaster Colony Co. will post 6.96 earnings per share for the current year.

Lancaster Colony Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Monday, September 9th. Lancaster Colony’s dividend payout ratio (DPR) is presently 74.69%.

Analyst Ratings Changes

Several research analysts have recently weighed in on LANC shares. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a report on Wednesday, September 18th. 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 research note on Monday, August 26th. StockNews.com downgraded Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Stephens reduced their price objective on Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $195.75.

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.