WCM Investment Management LLC Lowers Stock Position in Lancaster Colony Corporation (NASDAQ:LANC)

WCM Investment Management LLC lessened its holdings in Lancaster Colony Corporation (NASDAQ:LANC - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,474 shares of the company's stock after selling 6,117 shares during the period. WCM Investment Management LLC owned about 0.36% of Lancaster Colony worth $17,387,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in Lancaster Colony in the first quarter valued at approximately $26,000. Farther Finance Advisors LLC lifted its position in Lancaster Colony by 1,078.9% in the fourth 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 last quarter. Blue Trust Inc. boosted its stake in Lancaster Colony by 20.9% in the first quarter. Blue Trust Inc. now owns 602 shares of the company's stock valued at $105,000 after acquiring an additional 104 shares in the last quarter. Covestor Ltd grew its holdings in shares of Lancaster Colony by 48.4% during the fourth quarter. Covestor Ltd now owns 724 shares of the company's stock worth $126,000 after purchasing an additional 236 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Lancaster Colony during the fourth quarter worth about $206,000. 66.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LANC has been the subject of a number of research analyst reports. Benchmark raised Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 target price for the company in a research 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 lowered shares of Lancaster Colony from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Three equities 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 presently has an average rating of "Hold" and an average price target of $203.50.

Lancaster Colony Trading Up 0.6%

Shares of NASDAQ LANC traded up $0.97 during midday trading on Thursday, reaching $172.77. 172,225 shares of the company were exchanged, compared to its average volume of 153,582. The stock has a market cap of $4.76 billion, a P/E ratio of 28.09 and a beta of 0.47. Lancaster Colony Corporation has a 1 year low of $156.14 and a 1 year high of $202.63. The stock has a fifty day simple moving average of $168.87 and a 200 day simple moving average of $176.43.

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). Lancaster Colony had a net margin of 8.99% and a return on equity of 19.30%. The company had revenue of $457.84 million during the quarter, compared to analysts' expectations of $483.47 million. During the same quarter last year, the business posted $1.44 earnings per share. The company's revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, analysts forecast that Lancaster Colony Corporation will post 6.8 earnings per share for the current year.

Lancaster Colony Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a $0.95 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.80 annualized dividend and a yield of 2.20%. Lancaster Colony's dividend payout ratio is currently 61.79%.

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.