Lancaster Colony Co. (NASDAQ:LANC) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its position in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 48.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,681 shares of the company's stock after selling 12,889 shares during the quarter. BNP Paribas Financial Markets' holdings in Lancaster Colony were worth $2,369,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC lifted its stake in Lancaster Colony by 125.5% in the third quarter. Barclays PLC now owns 44,189 shares of the company's stock worth $7,803,000 after acquiring an additional 24,589 shares during the period. Park Avenue Securities LLC raised its holdings in shares of Lancaster Colony by 22.6% in the 4th quarter. Park Avenue Securities LLC now owns 6,278 shares of the company's stock valued at $1,087,000 after purchasing an additional 1,157 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Lancaster Colony by 336.2% in the 4th quarter. SG Americas Securities LLC now owns 23,393 shares of the company's stock worth $4,050,000 after purchasing an additional 18,030 shares during the period. Wolff Financial Management LLC lifted its position in shares of Lancaster Colony by 3.0% in the 4th quarter. Wolff Financial Management LLC now owns 23,799 shares of the company's stock worth $4,121,000 after purchasing an additional 695 shares during the period. Finally, Tributary Capital Management LLC boosted its stake in shares of Lancaster Colony by 46.5% during the fourth quarter. Tributary Capital Management LLC now owns 4,446 shares of the company's stock valued at $770,000 after purchasing an additional 1,412 shares in the last quarter. Institutional investors own 66.44% of the company's stock.

Lancaster Colony Stock Performance

LANC traded down $1.91 during trading on Thursday, hitting $161.33. The stock had a trading volume of 13,476 shares, compared to its average volume of 146,800. The company has a market capitalization of $4.45 billion, a PE ratio of 28.39 and a beta of 0.50. Lancaster Colony Co. has a twelve month low of $156.14 and a twelve month high of $202.63. The stock has a 50 day simple moving average of $176.12 and a two-hundred day simple moving average of $180.57.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.54 EPS for the quarter, missing the consensus estimate 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 net margin of 8.26% and a return on equity of 19.51%. The business's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.44 EPS. On average, equities research analysts anticipate that Lancaster Colony Co. will post 6.8 EPS for the current year.

Lancaster Colony Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Friday, June 6th. Lancaster Colony's dividend payout ratio (DPR) is presently 61.79%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LANC shares. Stephens reduced their price objective on shares of Lancaster Colony from $200.00 to $195.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. StockNews.com downgraded Lancaster Colony from a "buy" rating to a "hold" rating in a report on Monday, May 5th. DA Davidson upped their price objective on Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, Benchmark raised Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 price objective on the stock in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Lancaster Colony has an average rating of "Hold" and an average 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.