Squarepoint Ops LLC Reduces Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Squarepoint Ops LLC lowered its stake in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 96.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,501 shares of the company's stock after selling 61,572 shares during the quarter. Squarepoint Ops LLC's holdings in Lancaster Colony were worth $433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Lancaster Colony by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 2,200,002 shares of the company's stock valued at $380,908,000 after acquiring an additional 30,987 shares in the last quarter. Geode Capital Management LLC raised its stake in Lancaster Colony by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 561,913 shares of the company's stock valued at $97,308,000 after purchasing an additional 5,690 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Lancaster Colony by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 510,470 shares of the company's stock worth $88,383,000 after purchasing an additional 1,496 shares in the last quarter. London Co. of Virginia lifted its holdings in Lancaster Colony by 2.9% in the 4th quarter. London Co. of Virginia now owns 450,493 shares of the company's stock worth $77,998,000 after purchasing an additional 12,500 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Lancaster Colony by 11.1% in the 4th quarter. Northern Trust Corp now owns 290,133 shares of the company's stock worth $50,234,000 after purchasing an additional 28,965 shares during the period. 66.44% of the stock is owned by hedge funds and other institutional investors.

Lancaster Colony Price Performance

Shares of Lancaster Colony stock traded up $0.84 during trading hours on Friday, reaching $167.93. The company's stock had a trading volume of 109,605 shares, compared to its average volume of 149,666. Lancaster Colony Co. has a one year low of $156.14 and a one year high of $202.63. The firm has a 50 day moving average price of $173.64 and a 200-day moving average price of $178.62. The stock has a market cap of $4.63 billion, a P/E ratio of 29.51 and a beta of 0.47.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $457.84 million for the quarter, compared to analysts' expectations of $483.47 million. During the same period in the previous year, the firm earned $1.44 earnings per share. The firm's quarterly revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Lancaster Colony Co. will post 6.8 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The company 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 dividend of $0.95 per share. The ex-dividend date is Friday, June 6th. This represents a $3.80 annualized dividend and a yield of 2.26%. Lancaster Colony's payout ratio is 61.79%.

Analysts Set New Price Targets

LANC has been the topic of several recent analyst reports. Benchmark upgraded 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. Stephens reduced 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 report on Thursday, May 1st. DA Davidson boosted their price target on shares of Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, Wall Street Zen lowered 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 given a buy rating to the stock. According to data from MarketBeat.com, Lancaster Colony has an average 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.