Lancaster Colony Co. (NASDAQ:LANC) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC reduced its stake in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 52.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,274 shares of the company's stock after selling 58,432 shares during the quarter. Nuveen Asset Management LLC owned about 0.19% of Lancaster Colony worth $9,051,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC increased 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 purchasing an additional 410 shares in the last quarter. Covestor Ltd boosted its stake in shares of Lancaster Colony by 48.4% during the 4th quarter. Covestor Ltd now owns 724 shares of the company's stock worth $126,000 after purchasing an additional 236 shares during the last quarter. KBC Group NV grew its holdings in shares of Lancaster Colony by 80.4% during the fourth quarter. KBC Group NV now owns 893 shares of the company's stock worth $155,000 after buying an additional 398 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Lancaster Colony by 62.1% during the fourth quarter. Blue Trust Inc. now owns 932 shares of the company's stock worth $165,000 after buying an additional 357 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Lancaster Colony by 12.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,235 shares of the company's stock valued at $214,000 after buying an additional 137 shares during the last quarter. 66.44% of the stock is currently owned by hedge funds and other institutional investors.

Lancaster Colony Stock Performance

Lancaster Colony stock traded up $1.83 during midday trading on Friday, reaching $167.69. The stock had a trading volume of 132,290 shares, compared to its average volume of 148,515. The stock's 50-day simple moving average is $174.40 and its 200 day simple moving average is $179.16. Lancaster Colony Co. has a twelve month low of $156.14 and a twelve month high of $202.63. The stock has a market capitalization of $4.62 billion, a PE ratio of 29.47 and a beta of 0.50.

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

Lancaster Colony Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.95 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.80 annualized dividend and a yield of 2.27%. Lancaster Colony's dividend payout ratio is currently 61.79%.

Analysts Set New Price Targets

LANC has been the topic of a number of analyst reports. DA Davidson raised their target price on shares of Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. 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. Benchmark raised Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 price objective for the company in a research report on Thursday, May 1st. Finally, Wall Street Zen downgraded Lancaster Colony from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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.