Silvercrest Asset Management Group LLC Sells 14,390 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Silvercrest Asset Management Group LLC trimmed its holdings in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 348,511 shares of the company's stock after selling 14,390 shares during the quarter. Silvercrest Asset Management Group LLC owned about 1.26% of Lancaster Colony worth $60,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its holdings in shares of Lancaster Colony by 1,078.9% during the 4th quarter. Farther Finance Advisors LLC now owns 448 shares of the company's stock worth $78,000 after buying an additional 410 shares in the last quarter. Covestor Ltd boosted its stake in Lancaster Colony by 48.4% during the fourth quarter. Covestor Ltd now owns 724 shares of the company's stock worth $126,000 after acquiring an additional 236 shares in the last quarter. KBC Group NV grew its holdings in Lancaster Colony by 80.4% in the fourth quarter. KBC Group NV now owns 893 shares of the company's stock worth $155,000 after purchasing an additional 398 shares during the period. Blue Trust Inc. increased its stake in Lancaster Colony by 62.1% in the fourth quarter. Blue Trust Inc. now owns 932 shares of the company's stock valued at $165,000 after purchasing an additional 357 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Lancaster Colony by 12.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,235 shares of the company's stock valued at $214,000 after purchasing an additional 137 shares during the period. Institutional investors and hedge funds own 66.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on LANC shares. 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. StockNews.com downgraded shares of Lancaster Colony from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Stephens lowered their price objective 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. Finally, DA Davidson boosted their target price on shares of Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $203.50.

Lancaster Colony Price Performance

Shares of LANC traded down $2.22 during mid-day trading on Wednesday, hitting $165.24. The stock had a trading volume of 45,824 shares, compared to its average volume of 174,639. Lancaster Colony Co. has a 52 week low of $156.14 and a 52 week high of $202.63. The business has a fifty day moving average price of $176.46 and a 200-day moving average price of $180.69. The firm has a market cap of $4.56 billion, a P/E ratio of 29.04 and a beta of 0.50.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last released 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). 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 revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the company earned $1.44 earnings per share. As a group, research analysts expect that Lancaster Colony Co. will post 6.8 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

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 dividend of $0.95 per share. The ex-dividend date is Friday, June 6th. This represents a $3.80 dividend on an annualized basis and a yield of 2.30%. Lancaster Colony's payout ratio is 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.