GAMMA Investing LLC Raises Holdings in Lancaster Colony Co. (NASDAQ:LANC)

GAMMA Investing LLC grew its position in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 19,025.0% in the 1st quarter, according to its most recent 13F filing 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 quarter. GAMMA Investing LLC owned 0.19% of Lancaster Colony worth $9,371,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in LANC. Farther Finance Advisors LLC lifted its holdings in shares of Lancaster Colony by 1,078.9% in the 4th quarter. Farther Finance Advisors LLC now owns 448 shares of the company's stock worth $78,000 after buying an additional 410 shares during the period. Covestor Ltd raised its position in shares of Lancaster Colony by 48.4% in the 4th quarter. Covestor Ltd now owns 724 shares of the company's stock worth $126,000 after acquiring an additional 236 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Lancaster Colony in the 4th quarter worth $206,000. Tower Research Capital LLC TRC raised its position in shares of Lancaster Colony by 12.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,235 shares of the company's stock worth $214,000 after acquiring an additional 137 shares in the last quarter. Finally, Principal Securities Inc. raised its position in shares of Lancaster Colony by 5.6% in the 4th quarter. Principal Securities Inc. now owns 1,280 shares of the company's stock worth $222,000 after acquiring an additional 68 shares in the last quarter. 66.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LANC has been the subject of several recent research reports. Wall Street Zen lowered Lancaster Colony from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Benchmark raised Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 price target for the company in a research report on Thursday, May 1st. DA Davidson boosted 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. Finally, Stephens reduced their target price 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. Three 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, Lancaster Colony presently has a consensus rating of "Hold" and a consensus price target of $203.50.

Lancaster Colony Stock Up 0.5%

Lancaster Colony stock opened at $167.93 on Friday. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 29.51 and a beta of 0.47. Lancaster Colony Co. has a 52 week low of $156.14 and a 52 week high of $202.63. The business's 50-day moving average price is $173.64 and its 200 day moving average price is $178.65.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $1.54 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.07). The company had revenue of $457.84 million for the quarter, compared to analyst estimates of $483.47 million. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The firm's revenue was down 2.9% on a year-over-year basis. During the same period last year, the business earned $1.44 earnings per share. Equities analysts expect that Lancaster Colony Co. will post 6.8 EPS for the current year.

Lancaster Colony Dividend Announcement

The business also recently announced 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 yield of 2.26%. The ex-dividend date is Friday, June 6th. Lancaster Colony's dividend payout ratio (DPR) is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.