GAMMA Investing LLC Has $9.37 Million Stake in Lancaster Colony Co. (NASDAQ:LANC)

GAMMA Investing LLC lifted its stake in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 19,025.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,550 shares of the company's stock after buying an additional 53,270 shares during the period. GAMMA Investing LLC owned approximately 0.19% of Lancaster Colony worth $9,371,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in shares of Lancaster Colony by 1,078.9% in the fourth quarter. Farther Finance Advisors LLC now owns 448 shares of the company's stock valued at $78,000 after buying an additional 410 shares during the period. Covestor Ltd lifted its stake in Lancaster Colony by 48.4% during the fourth quarter. Covestor Ltd now owns 724 shares of the company's stock worth $126,000 after purchasing an additional 236 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Lancaster Colony during the fourth quarter worth $206,000. Tower Research Capital LLC TRC lifted its stake in Lancaster Colony by 12.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,235 shares of the company's stock worth $214,000 after purchasing an additional 137 shares during the last quarter. Finally, Principal Securities Inc. lifted its stake in Lancaster Colony by 5.6% during the fourth quarter. Principal Securities Inc. now owns 1,280 shares of the company's stock worth $222,000 after purchasing an additional 68 shares during the last quarter. 66.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on LANC. Wall Street Zen cut Lancaster Colony from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Benchmark upgraded Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 target price for the company in a research note on Thursday, May 1st. Finally, Stephens cut their target price on Lancaster Colony from $200.00 to $195.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $203.50.

Lancaster Colony Stock Performance

Shares of LANC traded down $2.24 during trading hours on Wednesday, reaching $168.13. The stock had a trading volume of 114,659 shares, compared to its average volume of 149,698. Lancaster Colony Co. has a 12 month low of $156.14 and a 12 month high of $202.63. The stock has a market capitalization of $4.64 billion, a PE ratio of 29.55 and a beta of 0.47. The company's 50-day moving average is $173.24 and its two-hundred day moving average is $178.38.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last announced 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 net margin of 8.26% and a return on equity of 19.51%. The firm had revenue of $457.84 million during the quarter, compared to the consensus estimate of $483.47 million. During the same quarter in the previous year, the company posted $1.44 earnings per share. The firm's revenue was down 2.9% on a year-over-year basis. Equities analysts anticipate that Lancaster Colony Co. will post 6.8 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.95 dividend. 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 2.26%. Lancaster Colony's payout ratio is 61.79%.

About Lancaster Colony

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.