NBC Securities Inc. boosted its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 179,900.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,800 shares of the company's stock after buying 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 reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its stake in Lancaster Colony by 1,078.9% during the fourth quarter. Farther Finance Advisors LLC now owns 448 shares of the company's stock worth $78,000 after purchasing an additional 410 shares during the last quarter. Covestor Ltd lifted its stake in shares of Lancaster Colony by 48.4% in the 4th 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. KBC Group NV lifted its stake in shares of Lancaster Colony by 80.4% in the 4th quarter. KBC Group NV now owns 893 shares of the company's stock valued at $155,000 after acquiring an additional 398 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Lancaster Colony in the 4th quarter valued at $206,000. Finally, Tower Research Capital LLC TRC lifted its stake 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 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 Price Performance
LANC stock traded up $0.84 during trading on Friday, reaching $167.93. The company had a trading volume of 109,605 shares, compared to its average volume of 149,666. The company has a market cap of $4.63 billion, a P/E 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 has a 50 day moving average of $173.64 and a 200 day moving average of $178.62.
Lancaster Colony (NASDAQ:LANC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.54 EPS for the quarter, missing analysts' consensus estimates of $1.61 by ($0.07). The firm 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%. The company's quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.44 EPS. Research analysts expect that Lancaster Colony Co. will post 6.8 earnings per share for the current year.
Lancaster Colony Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.26%. The ex-dividend date is Friday, June 6th. Lancaster Colony's payout ratio is currently 61.79%.
Analyst Ratings Changes
LANC has been the subject of several analyst reports. Stephens lowered 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. Wall Street Zen downgraded Lancaster Colony from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. DA Davidson lifted their price target on Lancaster Colony from $192.00 to $207.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Finally, Benchmark raised shares of Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 target price on the stock in a research report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $203.50.
Check Out Our Latest Stock Report on Lancaster Colony
Lancaster Colony Company Profile
(
Free Report)
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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