SG Americas Securities LLC Reduces Stock Position in Lancaster Colony Corporation (NASDAQ:LANC)

SG Americas Securities LLC reduced its position in Lancaster Colony Corporation (NASDAQ:LANC - Free Report) by 33.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,588 shares of the company's stock after selling 7,805 shares during the period. SG Americas Securities LLC owned about 0.06% of Lancaster Colony worth $2,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in LANC. Farther Finance Advisors LLC grew its stake in Lancaster Colony by 1,078.9% in the 4th quarter. Farther Finance Advisors LLC now owns 448 shares of the company's stock valued at $78,000 after acquiring an additional 410 shares during the period. Covestor Ltd lifted its holdings in Lancaster Colony by 48.4% during the fourth quarter. Covestor Ltd now owns 724 shares of the company's stock valued at $126,000 after purchasing an additional 236 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Lancaster Colony during the fourth quarter valued at $206,000. Tower Research Capital LLC TRC grew 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 purchasing an additional 137 shares during the period. Finally, Principal Securities Inc. increased its stake in shares of Lancaster Colony by 5.6% during the fourth quarter. Principal Securities Inc. now owns 1,280 shares of the company's stock worth $222,000 after purchasing an additional 68 shares in the last quarter. 66.44% of the stock is owned by hedge funds and other institutional investors.

Lancaster Colony Stock Up 1.3%

NASDAQ:LANC traded up $2.17 during trading hours on Wednesday, reaching $169.97. 84,236 shares of the company's stock were exchanged, compared to its average volume of 150,304. Lancaster Colony Corporation has a 1-year low of $156.14 and a 1-year high of $202.63. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 27.62 and a beta of 0.47. The company has a 50-day moving average of $172.62 and a 200 day moving average of $177.82.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last announced its 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 for the quarter, compared to analyst estimates of $483.47 million. Lancaster Colony had a return on equity of 19.30% and a net margin of 8.99%. Lancaster Colony's quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company posted $1.44 EPS. Research analysts forecast that Lancaster Colony Corporation will post 6.8 EPS for the current fiscal year.

Lancaster Colony Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.80 annualized dividend and a dividend yield of 2.24%. Lancaster Colony's dividend payout ratio (DPR) is currently 61.79%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LANC. Stephens dropped their target price on shares of Lancaster Colony from $200.00 to $195.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Benchmark raised Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 target price on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered 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. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $203.50.

About Lancaster Colony

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.