Nuveen Asset Management LLC Trims Stake in Lancaster Colony Co. (NASDAQ:LANC)

Nuveen Asset Management LLC lowered its position in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 52.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,274 shares of the company's stock after selling 58,432 shares during the period. Nuveen Asset Management LLC owned about 0.19% of Lancaster Colony worth $9,051,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LANC. Arizona State Retirement System boosted its position in Lancaster Colony by 1.0% during the fourth quarter. Arizona State Retirement System now owns 5,604 shares of the company's stock valued at $970,000 after purchasing an additional 55 shares in the last quarter. Principal Securities Inc. boosted its position in Lancaster Colony by 5.6% during the fourth quarter. Principal Securities Inc. now owns 1,280 shares of the company's stock valued at $222,000 after purchasing an additional 68 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in Lancaster Colony by 5.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,609 shares of the company's stock valued at $279,000 after purchasing an additional 77 shares in the last quarter. Captrust Financial Advisors boosted its position in Lancaster Colony by 3.6% during the fourth quarter. Captrust Financial Advisors now owns 2,323 shares of the company's stock valued at $402,000 after purchasing an additional 80 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its position in Lancaster Colony by 0.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 15,978 shares of the company's stock valued at $2,766,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 66.44% of the company's stock.

Lancaster Colony Price Performance

NASDAQ LANC traded up $0.41 during trading on Monday, hitting $167.81. The company's stock had a trading volume of 191,757 shares, compared to its average volume of 148,764. The company has a market cap of $4.63 billion, a PE ratio of 29.49 and a beta of 0.50. The business's 50 day simple moving average is $174.24 and its 200-day simple moving average is $178.98. Lancaster Colony Co. has a fifty-two week low of $156.14 and a fifty-two week high of $202.63.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $457.84 million during the quarter, compared to analyst estimates of $483.47 million. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. Lancaster Colony's revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.44 EPS. Analysts expect that Lancaster Colony Co. will post 6.8 EPS for the current fiscal year.

Lancaster Colony Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Friday, June 6th. Lancaster Colony's dividend payout ratio is presently 61.79%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LANC. Benchmark raised Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 price objective on the stock 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 report on Monday, May 5th. DA Davidson raised 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. Finally, Stephens dropped their price objective on 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Lancaster Colony has an average rating of "Hold" and a consensus price target of $203.50.

Lancaster Colony Profile

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.