Nomura Holdings Inc. acquired a new stake in Lancaster Colony Co. (NASDAQ:LANC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,556 shares of the company's stock, valued at approximately $443,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Independence Bank of Kentucky purchased a new position in Lancaster Colony in the 4th quarter valued at about $630,000. Allspring Global Investments Holdings LLC lifted its holdings in Lancaster Colony by 24.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,177 shares of the company's stock valued at $2,281,000 after purchasing an additional 2,559 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in 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 valued at $37,027,000 after purchasing an additional 9,861 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Lancaster Colony by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 285,999 shares of the company's stock valued at $49,518,000 after purchasing an additional 5,168 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new position in Lancaster Colony in the 4th quarter valued at about $318,000. 66.44% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Stephens reduced their target price on shares of Lancaster Colony from $200.00 to $195.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. StockNews.com lowered shares of Lancaster Colony from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Benchmark upgraded shares of Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 price objective on the stock in a report on Thursday, May 1st. Finally, DA Davidson increased their price objective on shares of Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and two have given 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.
Get Our Latest Analysis on LANC
Lancaster Colony Price Performance
Shares of LANC stock opened at $163.24 on Thursday. The firm has a market cap of $4.50 billion, a P/E ratio of 28.69 and a beta of 0.50. Lancaster Colony Co. has a 1-year low of $156.14 and a 1-year high of $202.63. The firm's 50-day simple moving average is $176.12 and its 200-day simple moving average is $180.57.
Lancaster Colony (NASDAQ:LANC - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $483.47 million. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The company's revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.44 earnings per share. Analysts expect that Lancaster Colony Co. will post 6.8 earnings per share for the current fiscal year.
Lancaster Colony Announces Dividend
The firm also recently announced 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 2.33%. The ex-dividend date of this dividend is Friday, June 6th. Lancaster Colony's dividend payout ratio (DPR) is presently 61.79%.
About Lancaster Colony
(
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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