Leeward Investments LLC MA Sells 2,143 Shares of Lancaster Colony Corporation (NASDAQ:LANC)

Leeward Investments LLC MA decreased its stake in Lancaster Colony Corporation (NASDAQ:LANC - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,084 shares of the company's stock after selling 2,143 shares during the period. Leeward Investments LLC MA owned approximately 0.17% of Lancaster Colony worth $8,065,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Lancaster Colony by 4.8% in the 4th quarter. Bank of New York Mellon Corp now owns 213,854 shares of the company's stock worth $37,027,000 after acquiring an additional 9,861 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of Lancaster Colony by 4,728.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,352 shares of the company's stock valued at $234,000 after purchasing an additional 1,324 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Lancaster Colony by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 285,999 shares of the company's stock worth $49,518,000 after purchasing an additional 5,168 shares during the period. Victory Capital Management Inc. boosted its stake in Lancaster Colony by 50.0% during the fourth quarter. Victory Capital Management Inc. now owns 7,175 shares of the company's stock worth $1,242,000 after buying an additional 2,393 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in Lancaster Colony by 1.0% in the 4th quarter. Arizona State Retirement System now owns 5,604 shares of the company's stock valued at $970,000 after buying an additional 55 shares during the period. Institutional investors own 66.44% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on LANC. Benchmark raised shares of Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 price objective for the company in a report on Thursday, May 1st. Wall Street Zen cut shares of Lancaster Colony from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Stephens decreased their price objective on Lancaster Colony from $200.00 to $195.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $203.50.

Lancaster Colony Trading Up 0.6%

NASDAQ LANC opened at $172.77 on Friday. The stock's 50 day moving average is $168.52 and its two-hundred day moving average is $176.32. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 28.09 and a beta of 0.47. Lancaster Colony Corporation has a 1-year low of $156.14 and a 1-year high of $202.63.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.54 earnings per share for the quarter, missing analysts' consensus estimates of $1.61 by ($0.07). Lancaster Colony had a net margin of 8.99% and a return on equity of 19.30%. The company had revenue of $457.84 million for the quarter, compared to analyst estimates of $483.47 million. During the same period in the previous year, the firm posted $1.44 earnings per share. The firm's revenue for the quarter was down 2.9% compared to the same quarter last year. On average, analysts predict that Lancaster Colony Corporation will post 6.8 earnings per share for the current year.

Lancaster Colony Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.20%. The ex-dividend date was Friday, June 6th. Lancaster Colony's dividend payout ratio (DPR) is presently 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.

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