NBC Securities Inc. Boosts Stock Holdings in Lancaster Colony Co. (NASDAQ:LANC)

NBC Securities Inc. lifted its position in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 179,900.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,800 shares of the company's stock after purchasing an additional 1,799 shares during the quarter. NBC Securities Inc.'s holdings in Lancaster Colony were worth $315,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in Lancaster Colony by 1,078.9% during the 4th quarter. Farther Finance Advisors LLC now owns 448 shares of the company's stock worth $78,000 after acquiring an additional 410 shares during the last quarter. Covestor Ltd lifted its holdings in Lancaster Colony by 48.4% in the 4th quarter. Covestor Ltd now owns 724 shares of the company's stock worth $126,000 after buying an additional 236 shares during the period. KBC Group NV grew its position in shares of Lancaster Colony by 80.4% in the 4th quarter. KBC Group NV now owns 893 shares of the company's stock worth $155,000 after buying an additional 398 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Lancaster Colony during the fourth quarter valued at approximately $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 worth $214,000 after acquiring an additional 137 shares during the period. 66.44% of the stock is currently owned by institutional investors.

Lancaster Colony Price Performance

NASDAQ LANC traded up $0.07 during trading hours on Tuesday, reaching $170.37. 128,509 shares of the company's stock traded hands, compared to its average volume of 149,594. Lancaster Colony Co. has a 52-week low of $156.14 and a 52-week high of $202.63. The firm has a 50-day simple moving average of $173.48 and a 200 day simple moving average of $178.46. The firm has a market cap of $4.70 billion, a PE ratio of 29.94 and a beta of 0.47.

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

Lancaster Colony Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.95 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.23%. Lancaster Colony's dividend payout ratio is currently 61.79%.

Analyst Upgrades and Downgrades

Several 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 objective for the company in a report on Thursday, May 1st. DA Davidson lifted their price objective on Lancaster Colony from $192.00 to $207.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Stephens decreased their target price 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. Finally, Wall Street Zen lowered Lancaster Colony from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Lancaster Colony has a consensus 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.