Vest Financial LLC Takes $2.44 Million Position in Lancaster Colony Co. (NASDAQ:LANC)

Vest Financial LLC acquired a new position in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 13,930 shares of the company's stock, valued at approximately $2,438,000. Vest Financial LLC owned approximately 0.05% of Lancaster Colony at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LANC. Choreo LLC purchased a new stake in shares of Lancaster Colony in the 4th quarter valued at about $255,000. Louisiana State Employees Retirement System grew its position in shares of Lancaster Colony by 1.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 5,400 shares of the company's stock worth $935,000 after acquiring an additional 100 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Lancaster Colony by 24.1% in the 4th 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 during the period. Rhumbline Advisers raised its position in Lancaster Colony by 1.1% in the 4th quarter. Rhumbline Advisers now owns 60,460 shares of the company's stock valued at $10,468,000 after purchasing an additional 665 shares during the last quarter. Finally, Principal Securities Inc. boosted its stake in Lancaster Colony by 5.6% during the 4th quarter. Principal Securities Inc. now owns 1,280 shares of the company's stock worth $222,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 66.44% of the company's stock.

Lancaster Colony Stock Up 1.4%

NASDAQ LANC traded up $2.37 during trading hours on Monday, hitting $170.30. 120,368 shares of the stock were exchanged, compared to its average volume of 149,549. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 29.93 and a beta of 0.47. Lancaster Colony Co. has a 12-month low of $156.14 and a 12-month high of $202.63. The stock has a 50-day moving average of $173.57 and a 200 day moving average of $178.51.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $1.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company posted $1.44 earnings per share. The business's quarterly revenue was down 2.9% on a year-over-year basis. On average, equities research analysts expect that Lancaster Colony Co. will post 6.8 earnings per share for the current year.

Lancaster Colony Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Friday, June 6th. Lancaster Colony's dividend payout ratio (DPR) is currently 61.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. DA Davidson upped 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. Stephens reduced their price objective on Lancaster Colony from $200.00 to $195.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Benchmark raised Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 price objective for the company 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. 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.