AQR Capital Management LLC Boosts Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

AQR Capital Management LLC grew its stake in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 89.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,560 shares of the company's stock after purchasing an additional 49,734 shares during the period. AQR Capital Management LLC owned approximately 0.38% of Lancaster Colony worth $18,277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Northern Trust Corp increased its holdings in 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 period. Coldstream Capital Management Inc. increased its position in shares of Lancaster Colony by 5.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,609 shares of the company's stock valued at $279,000 after acquiring an additional 77 shares during the period. Nebula Research & Development LLC purchased a new position in Lancaster Colony in the 4th quarter worth $1,461,000. Voya Investment Management LLC lifted its position in Lancaster Colony by 145.2% during the 4th quarter. Voya Investment Management LLC now owns 25,430 shares of the company's stock worth $4,403,000 after acquiring an additional 15,057 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its stake in Lancaster Colony by 16.4% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 24,593 shares of the company's stock valued at $4,258,000 after purchasing an additional 3,470 shares during the last quarter. 66.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Benchmark upgraded Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 target price on the stock in a research report on Thursday, May 1st. Stephens reduced their target price on shares of Lancaster Colony from $200.00 to $195.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. DA Davidson increased 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 Lancaster Colony from a "buy" rating to a "hold" rating in a research note on Monday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $203.50.

Insider Buying and Selling at Lancaster Colony

In related news, CEO David Alan Ciesinski sold 17,000 shares of Lancaster Colony stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 54,644 shares in the company, valued at approximately $10,447,386.36. The trade was a 23.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 29.50% of the company's stock.

Lancaster Colony Stock Up 3.5 %

Shares of NASDAQ:LANC traded up $5.58 during trading on Thursday, reaching $165.25. 255,715 shares of the company's stock traded hands, compared to its average volume of 144,362. The company has a 50-day simple moving average of $180.13 and a 200-day simple moving average of $181.33. Lancaster Colony Co. has a fifty-two week low of $156.14 and a fifty-two week high of $202.63. The firm has a market cap of $4.56 billion, a PE ratio of 29.04 and a beta of 0.50.

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

Lancaster Colony Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were issued a $0.95 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $3.80 annualized dividend and a yield of 2.30%. Lancaster Colony's dividend payout ratio (DPR) is currently 61.79%.

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.