UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 1,948 Shares of Lancaster Colony Co. (NASDAQ:LANC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Lancaster Colony Co. (NASDAQ:LANC) by 5.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 35,141 shares of the company’s stock after selling 1,948 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Lancaster Colony were worth $6,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in LANC. V Square Quantitative Management LLC bought a new stake in shares of Lancaster Colony during the 3rd quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Lancaster Colony in the 2nd quarter worth about $74,000. nVerses Capital LLC bought a new position in Lancaster Colony in the 2nd quarter worth about $113,000. UMB Bank n.a. lifted its position in shares of Lancaster Colony by 10.8% in the 3rd quarter. UMB Bank n.a. now owns 1,055 shares of the company’s stock worth $186,000 after purchasing an additional 103 shares during the period. Finally, Olympiad Research LP purchased a new stake in Lancaster Colony during the third quarter valued at approximately $210,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Lancaster Colony Trading Up 3.3 %

Shares of NASDAQ:LANC opened at $189.97 on Wednesday. Lancaster Colony Co. has a 52 week low of $161.54 and a 52 week high of $215.31. The company’s 50 day moving average is $183.02 and its two-hundred day moving average is $183.99. The company has a market cap of $5.24 billion, a PE ratio of 32.87 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.08). Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The firm had revenue of $466.56 million during the quarter, compared to analysts’ expectations of $468.36 million. During the same period in the prior year, the company posted $1.70 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts expect that Lancaster Colony Co. will post 6.7 EPS for the current year.

Lancaster Colony Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th will be issued a $0.95 dividend. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, December 5th. This represents a $3.80 annualized dividend and a dividend yield of 2.00%. Lancaster Colony’s dividend payout ratio is presently 65.74%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LANC shares. Stephens reiterated an “equal weight” rating and issued a $196.00 price objective on shares of Lancaster Colony in a research note on Tuesday, November 19th. Loop Capital decreased their target price on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Benchmark restated a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th. Finally, StockNews.com downgraded shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd.

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.