Ameriprise Financial Inc. Has $3.79 Million Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Ameriprise Financial Inc. grew its holdings in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 13.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 21,905 shares of the company's stock after purchasing an additional 2,581 shares during the period. Ameriprise Financial Inc. owned approximately 0.08% of Lancaster Colony worth $3,793,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Independence Bank of Kentucky bought a new position in shares of Lancaster Colony in the 4th quarter valued at $630,000. Allspring Global Investments Holdings LLC increased its stake in shares of Lancaster Colony by 24.1% in the 4th 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 last quarter. Bank of New York Mellon Corp increased its stake in shares of Lancaster Colony by 4.8% in the 4th quarter. Bank of New York Mellon Corp now owns 213,854 shares of the company's stock valued at $37,027,000 after purchasing an additional 9,861 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Lancaster Colony by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 285,999 shares of the company's stock valued at $49,518,000 after purchasing an additional 5,168 shares during the last quarter. Finally, Wealthfront Advisers LLC bought a new position in shares of Lancaster Colony in the 4th quarter valued at $318,000. Institutional investors own 66.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. DA Davidson boosted their price objective on Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Stephens reduced their price objective on Lancaster Colony from $200.00 to $195.00 and set an "equal weight" rating on the stock 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 objective on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered Lancaster Colony from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $203.50.

Lancaster Colony Stock Up 1.1%

Shares of NASDAQ LANC traded up $1.83 during trading on Friday, reaching $167.69. The company had a trading volume of 132,290 shares, compared to its average volume of 148,593. The company's fifty day moving average price is $174.40 and its 200-day moving average price is $179.10. Lancaster Colony Co. has a 12 month low of $156.14 and a 12 month high of $202.63. The stock has a market cap of $4.62 billion, a P/E ratio of 29.47 and a beta of 0.50.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last released 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). The company had revenue of $457.84 million during the quarter, compared to the consensus estimate of $483.47 million. Lancaster Colony had a net margin of 8.26% and a return on equity of 19.51%. The company's quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 EPS. As a group, equities analysts predict that Lancaster Colony Co. will post 6.8 earnings per share for the current 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 paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, June 6th. Lancaster Colony's dividend payout ratio is 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.