Lancaster Colony Co. (NASDAQ:LANC) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG boosted its holdings in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 46.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,385 shares of the company's stock after purchasing an additional 5,514 shares during the quarter. Deutsche Bank AG owned approximately 0.06% of Lancaster Colony worth $3,010,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Farther Finance Advisors LLC raised its stake in Lancaster Colony by 1,078.9% during the fourth quarter. Farther Finance Advisors LLC now owns 448 shares of the company's stock valued at $78,000 after purchasing an additional 410 shares in the last quarter. Covestor Ltd raised its holdings in Lancaster Colony by 48.4% during the 4th quarter. Covestor Ltd now owns 724 shares of the company's stock valued at $126,000 after buying an additional 236 shares during the period. KBC Group NV raised its holdings in Lancaster Colony by 80.4% during the 4th quarter. KBC Group NV now owns 893 shares of the company's stock valued at $155,000 after buying an additional 398 shares during the period. Blue Trust Inc. raised its holdings in Lancaster Colony by 62.1% during the 4th quarter. Blue Trust Inc. now owns 932 shares of the company's stock valued at $165,000 after buying an additional 357 shares during the period. Finally, Landing Point Financial Group LLC purchased a new stake in Lancaster Colony during the 4th quarter valued at $229,000. Hedge funds and other institutional investors own 66.44% of the company's stock.

Lancaster Colony Stock Up 1.2%

Shares of Lancaster Colony stock traded up $1.96 on Friday, reaching $164.00. 156,567 shares of the stock were exchanged, compared to its average volume of 148,018. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 28.82 and a beta of 0.50. The business has a 50 day moving average price of $175.37 and a two-hundred day moving average price of $180.07. 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 announced its earnings results on Wednesday, April 30th. The company reported $1.54 earnings per share for the quarter, missing the consensus estimate 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 in the previous year, the company earned $1.44 earnings per share. The company's quarterly revenue was down 2.9% compared to the same quarter last year. Research analysts forecast that Lancaster Colony Co. will post 6.8 EPS for the current year.

Lancaster Colony Announces Dividend

The company also recently declared 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. This represents a $3.80 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, June 6th. Lancaster Colony's payout ratio is 61.79%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Benchmark upgraded Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 price target on the stock 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. Stephens dropped their price target 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. Finally, Wall Street Zen downgraded Lancaster Colony from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price 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.