Algert Global LLC Grows Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Algert Global LLC boosted its stake in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 20.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,390 shares of the company's stock after acquiring an additional 1,749 shares during the quarter. Algert Global LLC's holdings in Lancaster Colony were worth $1,799,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Jane Street Group LLC raised its position in shares of Lancaster Colony by 6.3% in the 4th quarter. Jane Street Group LLC now owns 23,565 shares of the company's stock worth $4,080,000 after acquiring an additional 1,387 shares in the last quarter. Voleon Capital Management LP bought a new position in shares of Lancaster Colony during the fourth quarter valued at about $243,000. Schonfeld Strategic Advisors LLC bought a new position in Lancaster Colony during the 4th quarter valued at approximately $790,000. AQR Capital Management LLC lifted its position in Lancaster Colony by 89.1% during the 4th quarter. AQR Capital Management LLC now owns 105,560 shares of the company's stock valued at $18,277,000 after acquiring an additional 49,734 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Lancaster Colony by 11.1% during the fourth quarter. Northern Trust Corp now owns 290,133 shares of the company's stock valued at $50,234,000 after buying an additional 28,965 shares during the last quarter. Institutional investors own 66.44% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Benchmark raised Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 target price on the stock in a research note on Thursday, May 1st. DA Davidson increased their price objective on shares of Lancaster Colony from $192.00 to $207.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. StockNews.com cut shares of Lancaster Colony from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Stephens dropped their price target on shares of Lancaster Colony from $200.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $203.50.

Lancaster Colony Stock Performance

Shares of LANC stock traded down $2.73 on Tuesday, hitting $167.59. The stock had a trading volume of 200,686 shares, compared to its average volume of 145,907. The stock's 50 day moving average is $178.66 and its 200-day moving average is $181.24. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of 29.45 and a beta of 0.50. Lancaster Colony Co. has a 52-week low of $156.14 and a 52-week high of $202.63.

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

Lancaster Colony Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Friday, March 7th. Lancaster Colony's payout ratio is presently 61.79%.

Insider Transactions at Lancaster Colony

In other Lancaster Colony news, CEO David Alan Ciesinski sold 17,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $191.19, for a total value of $3,250,230.00. Following the transaction, the chief executive officer now directly owns 54,644 shares of the company's stock, valued at $10,447,386.36. This trade represents a 23.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 29.50% of the stock is owned by insiders.

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.