Envestnet Portfolio Solutions Inc. Has $529,000 Stock Holdings in Lancaster Colony Corporation (NASDAQ:LANC)

Envestnet Portfolio Solutions Inc. lessened its stake in shares of Lancaster Colony Corporation (NASDAQ:LANC - Free Report) by 33.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,022 shares of the company's stock after selling 1,516 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Lancaster Colony were worth $529,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LANC. Arizona State Retirement System boosted its position in shares of Lancaster Colony by 1.0% during the 4th quarter. Arizona State Retirement System now owns 5,604 shares of the company's stock valued at $970,000 after purchasing an additional 55 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Lancaster Colony by 2.5% during the first quarter. State of Alaska Department of Revenue now owns 2,259 shares of the company's stock valued at $395,000 after purchasing an additional 55 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in Lancaster Colony by 5.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,609 shares of the company's stock worth $279,000 after buying an additional 77 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Lancaster Colony by 3.6% during the fourth quarter. Captrust Financial Advisors now owns 2,323 shares of the company's stock worth $402,000 after buying an additional 80 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its position in Lancaster Colony by 0.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 15,978 shares of the company's stock worth $2,766,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 66.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Benchmark upgraded Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 price objective for the company in a research report on Thursday, May 1st. Stephens reduced their target price 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. 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $203.50.

Lancaster Colony Price Performance

Lancaster Colony stock traded up $0.97 during midday trading on Monday, reaching $172.77. The stock had a trading volume of 172,225 shares, compared to its average volume of 153,046. Lancaster Colony Corporation has a twelve month low of $156.14 and a twelve month high of $202.63. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 28.09 and a beta of 0.47. The firm's fifty day simple moving average is $169.96 and its two-hundred day simple moving average is $176.63.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last posted its quarterly 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). The business had revenue of $457.84 million for the quarter, compared to analyst estimates of $483.47 million. Lancaster Colony had a net margin of 8.99% and a return on equity of 19.30%. The firm's quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.44 earnings per share. As a group, sell-side analysts predict that Lancaster Colony Corporation will post 6.8 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, June 6th. Lancaster Colony's dividend payout ratio is currently 61.79%.

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.