OMERS ADMINISTRATION Corp Invests $329,000 in Lancaster Colony Co. (NASDAQ:LANC)

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

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in shares of 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 buying an additional 410 shares during the last quarter. Covestor Ltd increased its position in Lancaster Colony by 48.4% during the fourth quarter. Covestor Ltd now owns 724 shares of the company's stock worth $126,000 after acquiring an additional 236 shares during the period. KBC Group NV increased its position in 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 acquiring an additional 398 shares during the period. Blue Trust Inc. increased its position in 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 acquiring an additional 357 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Lancaster Colony by 12.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,235 shares of the company's stock worth $214,000 after acquiring an additional 137 shares during the period. Institutional investors and hedge funds own 66.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LANC shares. Stephens lowered their price target 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. 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 report on Thursday, May 1st. DA Davidson raised their target price on shares of Lancaster Colony from $192.00 to $207.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Finally, Wall Street Zen lowered shares of Lancaster Colony from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Lancaster Colony has an average rating of "Hold" and an average target price of $203.50.

Lancaster Colony Stock Performance

NASDAQ LANC traded up $1.96 during trading on Friday, hitting $164.00. 156,567 shares of the company's stock traded hands, compared to its average volume of 148,018. The business has a 50 day moving average of $175.37 and a 200-day moving average of $179.95. Lancaster Colony Co. has a 12-month low of $156.14 and a 12-month high of $202.63. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 28.82 and a beta of 0.50.

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 the consensus estimate 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 analysts' expectations of $483.47 million. During the same period last year, the business posted $1.44 earnings per share. The company's revenue was down 2.9% compared to the same quarter last year. On average, analysts expect that Lancaster Colony Co. will post 6.8 EPS for the current year.

Lancaster Colony Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.95 per share. The ex-dividend date is Friday, June 6th. This represents a $3.80 annualized dividend and a dividend yield of 2.32%. Lancaster Colony's dividend payout ratio (DPR) is 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.