Man Group plc Acquires 39,474 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Man Group plc raised its holdings in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 366.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,241 shares of the company's stock after acquiring an additional 39,474 shares during the period. Man Group plc owned about 0.18% of Lancaster Colony worth $8,699,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in 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 acquiring an additional 410 shares during the period. Covestor Ltd grew its stake in Lancaster Colony by 48.4% in the fourth quarter. Covestor Ltd now owns 724 shares of the company's stock valued at $126,000 after acquiring an additional 236 shares during the period. KBC Group NV boosted its position in shares of Lancaster Colony by 80.4% during the fourth quarter. KBC Group NV now owns 893 shares of the company's stock worth $155,000 after buying an additional 398 shares during the period. Blue Trust Inc. boosted its position in shares of Lancaster Colony by 62.1% during the fourth quarter. Blue Trust Inc. now owns 932 shares of the company's stock worth $165,000 after buying an additional 357 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of 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 buying an additional 137 shares during the period. 66.44% of the stock is owned by institutional investors and hedge funds.

Lancaster Colony Stock Performance

NASDAQ LANC traded up $1.96 during trading hours on Friday, hitting $164.00. 156,567 shares of the company traded hands, compared to its average volume of 148,018. The business's 50-day moving average is $175.37 and its 200-day moving average is $180.07. Lancaster Colony Co. has a twelve month low of $156.14 and a twelve month high of $202.63. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 28.82 and a beta of 0.50.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last issued its quarterly 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). Lancaster Colony had a net margin of 8.26% and a return on equity of 19.51%. The company had revenue of $457.84 million for the quarter, compared to analyst estimates of $483.47 million. During the same period last year, the company posted $1.44 earnings per share. The business's revenue for the quarter was down 2.9% on a year-over-year basis. Analysts predict that Lancaster Colony Co. will post 6.8 EPS for the current 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 given a dividend of $0.95 per share. The ex-dividend date is Friday, June 6th. This represents a $3.80 annualized dividend and a yield of 2.32%. Lancaster Colony's dividend payout ratio (DPR) is presently 61.79%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. DA Davidson upped their price objective on Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Wall Street Zen cut 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 objective for the company in a research report on Thursday, May 1st. Finally, Stephens reduced their price objective on Lancaster Colony from $200.00 to $195.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Lancaster Colony currently has an average rating of "Hold" and a consensus price target of $203.50.

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.