Lancaster Colony Co. (NASDAQ:LANC) Stock Position Raised by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC boosted its position in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 179.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 24,870 shares of the company's stock after acquiring an additional 15,984 shares during the period. Cubist Systematic Strategies LLC owned about 0.09% of Lancaster Colony worth $4,306,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eagle Bay Advisors LLC purchased a new stake in Lancaster Colony in the 4th quarter worth approximately $38,000. GAMMA Investing LLC raised its holdings in shares of Lancaster Colony by 56.4% in the 4th quarter. GAMMA Investing LLC now owns 280 shares of the company's stock worth $48,000 after purchasing an additional 101 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Lancaster Colony by 1,078.9% in the 4th quarter. Farther Finance Advisors LLC now owns 448 shares of the company's stock worth $78,000 after purchasing an additional 410 shares during the period. Covestor Ltd raised its holdings in shares of Lancaster Colony by 48.4% in the 4th quarter. Covestor Ltd now owns 724 shares of the company's stock worth $126,000 after purchasing an additional 236 shares during the period. Finally, KBC Group NV raised its holdings in shares of Lancaster Colony by 80.4% in the 4th quarter. KBC Group NV now owns 893 shares of the company's stock worth $155,000 after purchasing an additional 398 shares during the period. 66.44% of the stock is owned by hedge funds and other institutional investors.

Lancaster Colony Price Performance

Shares of NASDAQ:LANC traded up $2.15 during trading on Thursday, reaching $167.63. 60,210 shares of the company's stock traded hands, compared to its average volume of 145,855. Lancaster Colony Co. has a 12 month low of $156.14 and a 12 month high of $202.63. The company has a 50 day moving average of $178.17 and a 200-day moving average of $181.15. The stock has a market capitalization of $4.62 billion, a P/E ratio of 29.53 and a beta of 0.50.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.54 earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $483.47 million. During the same period in the prior year, the company earned $1.44 EPS. Lancaster Colony's quarterly revenue was down 2.9% on a year-over-year basis. Equities research analysts predict that Lancaster Colony Co. will post 6.8 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.27%. Lancaster Colony's dividend payout ratio (DPR) is 61.79%.

Wall Street Analyst Weigh In

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

Lancaster Colony 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.