Jefferies Financial Group Inc. Invests $829,000 in Lancaster Colony Co. (NASDAQ:LANC)

Jefferies Financial Group Inc. bought a new position in Lancaster Colony Co. (NASDAQ:LANC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 4,786 shares of the company's stock, valued at approximately $829,000.

Several other hedge funds have also recently made changes to their positions in LANC. Independence Bank of Kentucky purchased a new position in shares of Lancaster Colony during the fourth quarter valued at approximately $630,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Lancaster Colony by 24.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,177 shares of the company's stock valued at $2,281,000 after purchasing an additional 2,559 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Lancaster Colony by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 213,854 shares of the company's stock valued at $37,027,000 after buying an additional 9,861 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Lancaster Colony by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 285,999 shares of the company's stock valued at $49,518,000 after acquiring an additional 5,168 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new position in Lancaster Colony during the 4th quarter valued at about $318,000. 66.44% of the stock is currently owned by hedge funds and other institutional investors.

Lancaster Colony Price Performance

NASDAQ LANC traded down $1.56 during trading on Wednesday, hitting $165.90. The company's stock had a trading volume of 23,402 shares, compared to its average volume of 146,532. Lancaster Colony Co. has a fifty-two week low of $156.14 and a fifty-two week high of $202.63. The company has a market cap of $4.57 billion, a PE ratio of 29.30 and a beta of 0.50. The business's 50 day simple moving average is $176.46 and its 200-day simple moving average is $180.69.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.54 EPS for the quarter, missing analysts' consensus estimates of $1.61 by ($0.07). Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The firm had revenue of $457.84 million for the quarter, compared to analyst estimates of $483.47 million. During the same period in the prior year, the firm posted $1.44 EPS. The business's revenue was down 2.9% compared to the same quarter last year. Analysts expect that Lancaster Colony Co. will post 6.8 EPS for the current fiscal year.

Lancaster Colony Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, June 6th. Lancaster Colony's dividend payout ratio (DPR) is currently 61.79%.

Analysts Set New Price Targets

LANC has been the subject of several research reports. Stephens lowered their price target on shares of Lancaster Colony from $200.00 to $195.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Benchmark upgraded Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 price target on the stock in a report on Thursday, May 1st. DA Davidson boosted their price target on Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Finally, StockNews.com downgraded shares of Lancaster Colony from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $203.50.

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.