Exchange Traded Concepts LLC Has $843,000 Stake in Lancaster Colony Co. (NASDAQ:LANC)

Exchange Traded Concepts LLC boosted its position in Lancaster Colony Co. (NASDAQ:LANC) by 27.8% in the third quarter, Holdings Channel.com reports. The firm owned 4,777 shares of the company’s stock after purchasing an additional 1,040 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Lancaster Colony were worth $843,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in shares of Lancaster Colony during the second quarter worth about $28,000. GAMMA Investing LLC grew its holdings in Lancaster Colony by 115.9% during the 2nd quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock worth $33,000 after acquiring an additional 95 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Lancaster Colony in the 2nd quarter valued at approximately $38,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Lancaster Colony during the second quarter valued at $74,000. Finally, nVerses Capital LLC acquired a new position in shares of Lancaster Colony during the second quarter worth $113,000. 66.44% of the stock is currently owned by institutional investors.

Lancaster Colony Trading Down 0.8 %

LANC stock opened at $178.42 on Friday. The firm has a market cap of $4.91 billion, a PE ratio of 37.02 and a beta of 0.35. The stock has a 50-day moving average price of $180.16 and a 200-day moving average price of $186.54. Lancaster Colony Co. has a 1-year low of $160.01 and a 1-year high of $215.31.

Lancaster Colony (NASDAQ:LANC) last issued its earnings results 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 the consensus estimate of $462.70 million. Lancaster Colony had a return on equity of 19.61% and a net margin of 8.47%. On average, analysts forecast that Lancaster Colony Co. will post 6.96 earnings per share for the current year.

Lancaster Colony Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.02%. The ex-dividend date was Monday, September 9th. Lancaster Colony’s dividend payout ratio is presently 74.69%.

Insiders Place Their Bets

In related news, Director Elliot K. Fullen acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were bought at an average price of $169.00 per share, with a total value of $507,000.00. Following the transaction, the director now directly owns 5,298 shares of the company’s stock, valued at $895,362. This trade represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 29.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.