Lancaster Colony Co. (NASDAQ:LANC) Stock Position Reduced by Jane Street Group LLC

Jane Street Group LLC trimmed its position in Lancaster Colony Co. (NASDAQ:LANC) by 26.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,178 shares of the company’s stock after selling 8,096 shares during the quarter. Jane Street Group LLC’s holdings in Lancaster Colony were worth $3,916,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blair William & Co. IL increased its stake in Lancaster Colony by 2,386.6% during the second quarter. Blair William & Co. IL now owns 172,075 shares of the company’s stock valued at $32,517,000 after purchasing an additional 165,155 shares during the last quarter. Wesbanco Bank Inc. raised its stake in Lancaster Colony by 4,189.1% during the third quarter. Wesbanco Bank Inc. now owns 163,800 shares of the company’s stock worth $28,922,000 after acquiring an additional 159,981 shares during the period. Wellington Management Group LLP lifted its holdings in Lancaster Colony by 243.2% in the third quarter. Wellington Management Group LLP now owns 83,630 shares of the company’s stock worth $14,767,000 after acquiring an additional 59,261 shares during the last quarter. F M Investments LLC acquired a new position in Lancaster Colony in the second quarter valued at approximately $7,997,000. Finally, Millennium Management LLC grew its holdings in shares of Lancaster Colony by 1,055.2% during the second quarter. Millennium Management LLC now owns 36,090 shares of the company’s stock valued at $6,820,000 after purchasing an additional 32,966 shares during the last quarter. 66.44% of the stock is owned by institutional investors and hedge funds.

Lancaster Colony Price Performance

Shares of Lancaster Colony stock opened at $182.34 on Thursday. Lancaster Colony Co. has a 1-year low of $161.54 and a 1-year high of $215.31. The company has a market capitalization of $5.03 billion, a P/E ratio of 31.55 and a beta of 0.35. The business’s fifty day moving average price is $184.73 and its two-hundred day moving average price is $184.35.

Lancaster Colony (NASDAQ:LANC) last announced its earnings results on Thursday, October 31st. The company reported $1.62 earnings per share (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 company had revenue of $466.56 million during the quarter, compared to the consensus estimate of $468.36 million. During the same quarter in the prior year, the company earned $1.70 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis. On average, research analysts expect that Lancaster Colony Co. will post 6.7 earnings per share for the current fiscal year.

Lancaster Colony Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, December 5th will be issued a dividend of $0.95 per share. 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 yield of 2.08%. Lancaster Colony’s payout ratio is presently 65.74%.

Wall Street Analysts Forecast Growth

LANC has been the topic of several recent research reports. StockNews.com downgraded Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Loop Capital reduced their price target on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a report on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th. Finally, Stephens reissued an “equal weight” rating and set a $196.00 target price on shares of Lancaster Colony in a research note on Tuesday, November 19th.

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.