Ameriprise Financial Inc. Acquires 2,581 Shares of Lancaster Colony Co. (NASDAQ:LANC)

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LANC. Algert Global LLC lifted its holdings in Lancaster Colony by 20.2% in the 4th quarter. Algert Global LLC now owns 10,390 shares of the company's stock worth $1,799,000 after purchasing an additional 1,749 shares during the last quarter. Jane Street Group LLC grew its position in Lancaster Colony by 6.3% in the fourth quarter. Jane Street Group LLC now owns 23,565 shares of the company's stock valued at $4,080,000 after acquiring an additional 1,387 shares during the period. Voleon Capital Management LP bought a new stake in Lancaster Colony in the fourth quarter valued at $243,000. Schonfeld Strategic Advisors LLC bought a new stake in Lancaster Colony in the fourth quarter valued at $790,000. Finally, AQR Capital Management LLC grew its holdings in shares of Lancaster Colony by 89.1% during the fourth quarter. AQR Capital Management LLC now owns 105,560 shares of the company's stock worth $18,277,000 after purchasing an additional 49,734 shares during the last quarter. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. DA Davidson increased their target price on Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. 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 report on Thursday, May 1st. Wall Street Zen downgraded 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 Lancaster Colony from $200.00 to $195.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $203.50.

Lancaster Colony Trading Up 1.1%

NASDAQ LANC traded up $1.90 during midday trading on Friday, hitting $167.76. The company had a trading volume of 47,853 shares, compared to its average volume of 148,017. The company has a market capitalization of $4.62 billion, a PE ratio of 29.48 and a beta of 0.50. The firm has a 50-day moving average price of $174.58 and a 200-day moving average price of $179.33. Lancaster Colony Co. has a twelve month low of $156.14 and a twelve month 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 EPS for the quarter, missing analysts' consensus estimates of $1.61 by ($0.07). Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The business had revenue of $457.84 million for the quarter, compared to analyst estimates of $483.47 million. During the same period last year, the firm posted $1.44 EPS. Lancaster Colony's quarterly revenue was down 2.9% on a year-over-year basis. On average, equities analysts anticipate that Lancaster Colony Co. will post 6.8 EPS for the current year.

Lancaster Colony Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.80 dividend on an annualized basis and a yield of 2.27%. Lancaster Colony's dividend payout ratio 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.