Boston Trust Walden Corp Sells 4,938 Shares of Lancaster Colony Corporation (NASDAQ:LANC)

Boston Trust Walden Corp lowered its position in Lancaster Colony Corporation (NASDAQ:LANC - Free Report) by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 300,326 shares of the company's stock after selling 4,938 shares during the quarter. Boston Trust Walden Corp owned approximately 1.09% of Lancaster Colony worth $52,557,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LANC. Opal Wealth Advisors LLC acquired a new stake in Lancaster Colony in the first quarter valued at $26,000. Farther Finance Advisors LLC lifted 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 last quarter. Covestor Ltd lifted 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 last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Lancaster Colony in the fourth quarter valued at $206,000. Finally, Tower Research Capital LLC TRC lifted its stake in Lancaster Colony by 12.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,235 shares of the company's stock valued at $214,000 after acquiring an additional 137 shares during the last quarter. Institutional investors and hedge funds own 66.44% of the company's stock.

Lancaster Colony Stock Down 0.0%

Shares of LANC traded down $0.04 during trading hours on Friday, hitting $168.98. The company had a trading volume of 342,495 shares, compared to its average volume of 151,739. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 27.48 and a beta of 0.47. The business has a fifty day moving average of $171.83 and a 200-day moving average of $177.42. Lancaster Colony Corporation has a 12 month low of $156.14 and a 12 month high of $202.63.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $457.84 million during the quarter, compared to the consensus estimate of $483.47 million. Lancaster Colony had a net margin of 8.99% and a return on equity of 19.30%. Lancaster Colony's revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.44 earnings per share. On average, equities analysts expect that Lancaster Colony Corporation will post 6.8 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Friday, June 6th. Lancaster Colony's dividend payout ratio is 61.79%.

Wall Street Analyst Weigh In

A number of brokerages have commented on LANC. Benchmark upgraded shares of Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 price target for the company in a research note on Thursday, May 1st. Wall Street Zen lowered shares of Lancaster Colony from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Finally, Stephens dropped their price objective on shares of 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 stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $203.50.

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.