OMERS ADMINISTRATION Corp Purchases New Stake in Lancaster Colony Co. (NASDAQ:LANC)

OMERS ADMINISTRATION Corp purchased a new stake in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,900 shares of the company's stock, valued at approximately $329,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Lancaster Colony by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,137 shares of the company's stock valued at $1,928,000 after buying an additional 433 shares during the last quarter. London Co. of Virginia raised its holdings in Lancaster Colony by 2.9% during the 4th quarter. London Co. of Virginia now owns 450,493 shares of the company's stock valued at $77,998,000 after buying an additional 12,500 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in Lancaster Colony during the 4th quarter valued at $829,000. D. E. Shaw & Co. Inc. bought a new stake in Lancaster Colony during the 4th quarter valued at $4,910,000. Finally, Deutsche Bank AG raised its holdings in Lancaster Colony by 46.4% during the 4th quarter. Deutsche Bank AG now owns 17,385 shares of the company's stock valued at $3,010,000 after buying an additional 5,514 shares during the last quarter. 66.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LANC has been the topic of a number of research analyst reports. Benchmark raised shares of 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. DA Davidson boosted their price objective on shares of Lancaster Colony from $192.00 to $207.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. StockNews.com downgraded shares of Lancaster Colony from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Finally, Stephens reduced their price objective on shares of 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $203.50.

Lancaster Colony Trading Down 1.3%

Shares of Lancaster Colony stock opened at $167.37 on Tuesday. The company's fifty day simple moving average is $176.66 and its two-hundred day simple moving average is $180.78. The company has a market cap of $4.61 billion, a P/E ratio of 29.41 and a beta of 0.50. Lancaster Colony Co. has a 12-month low of $156.14 and a 12-month high of $202.63.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $1.54 earnings per share for the quarter, missing analysts' consensus estimates of $1.61 by ($0.07). The business had revenue of $457.84 million during 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 firm's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.44 earnings per share. Analysts predict that Lancaster Colony Co. will post 6.8 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, June 6th. Lancaster Colony's dividend payout ratio is presently 61.79%.

Lancaster Colony Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.