SG Americas Securities LLC Sells 7,805 Shares of Lancaster Colony Co. (NASDAQ:LANC)

SG Americas Securities LLC lowered its stake in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 33.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 15,588 shares of the company's stock after selling 7,805 shares during the quarter. SG Americas Securities LLC owned 0.06% of Lancaster Colony worth $2,728,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Lancaster Colony by 24.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,177 shares of the company's stock valued at $2,281,000 after acquiring an additional 2,559 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Lancaster Colony by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 213,854 shares of the company's stock valued at $37,027,000 after acquiring an additional 9,861 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Lancaster Colony by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 285,999 shares of the company's stock valued at $49,518,000 after acquiring an additional 5,168 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Lancaster Colony by 13.4% during the fourth quarter. Ameriprise Financial Inc. now owns 21,905 shares of the company's stock valued at $3,793,000 after acquiring an additional 2,581 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new position in shares of Lancaster Colony during the fourth quarter valued at approximately $318,000. Institutional investors own 66.44% of the company's stock.

Lancaster Colony Price Performance

Shares of NASDAQ:LANC opened at $167.40 on Friday. Lancaster Colony Co. has a 1-year low of $156.14 and a 1-year high of $202.63. The business has a fifty day moving average price of $172.99 and a 200-day moving average price of $178.07. The company has a market capitalization of $4.62 billion, a PE ratio of 29.42 and a beta of 0.47.

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). Lancaster Colony had a net margin of 8.26% and a return on equity of 19.51%. The company had revenue of $457.84 million for the quarter, compared to the consensus estimate of $483.47 million. During the same quarter in the previous year, the business earned $1.44 earnings per share. Lancaster Colony's revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Lancaster Colony Co. will post 6.8 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

The business also recently declared 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 of this dividend is Friday, June 6th. This represents a $3.80 annualized dividend and a dividend yield of 2.27%. Lancaster Colony's payout ratio is presently 61.79%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LANC. Benchmark upgraded Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 price objective for the company in a report on Thursday, May 1st. Stephens decreased their price objective on Lancaster Colony from $200.00 to $195.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Finally, Wall Street Zen downgraded Lancaster Colony from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Lancaster Colony 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.

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