Vest Financial LLC Makes New $2.44 Million Investment in Lancaster Colony Co. (NASDAQ:LANC)

Vest Financial LLC acquired a new stake in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and 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 large investors also recently modified their holdings of LANC. Farther Finance Advisors LLC raised its stake in shares of Lancaster Colony by 1,078.9% during the fourth quarter. Farther Finance Advisors LLC now owns 448 shares of the company's stock worth $78,000 after acquiring an additional 410 shares in the last quarter. Covestor Ltd raised its position in Lancaster Colony by 48.4% in the 4th quarter. Covestor Ltd now owns 724 shares of the company's stock worth $126,000 after purchasing an additional 236 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Lancaster Colony in the 4th quarter worth $206,000. Tower Research Capital LLC TRC lifted its stake in Lancaster Colony by 12.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,235 shares of the company's stock worth $214,000 after purchasing an additional 137 shares during the last quarter. Finally, Principal Securities Inc. boosted its position in Lancaster Colony by 5.6% during the fourth quarter. Principal Securities Inc. now owns 1,280 shares of the company's stock valued at $222,000 after buying an additional 68 shares during the period. 66.44% of the stock is owned by hedge funds and other institutional investors.

Lancaster Colony Price Performance

NASDAQ:LANC traded down $2.31 during mid-day trading on Wednesday, reaching $168.07. 60,354 shares of the company's stock traded hands, compared to its average volume of 149,274. The company has a 50 day moving average price of $173.48 and a 200-day moving average price of $178.46. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 29.60 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.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $1.54 earnings per share (EPS) 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 analysts' expectations of $483.47 million. Lancaster Colony had a net margin of 8.26% and a return on equity of 19.51%. Lancaster Colony's quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm posted $1.44 earnings per share. As a group, analysts forecast that Lancaster Colony Co. will post 6.8 EPS for the current year.

Lancaster Colony Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given 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 2.26%. Lancaster Colony's dividend payout ratio is 61.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Stephens lowered their target price 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. Wall Street Zen cut Lancaster Colony from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, 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 note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus 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.