Lancaster Colony Co. (NASDAQ:LANC) Shares Acquired by London Co. of Virginia

London Co. of Virginia increased its position in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 450,493 shares of the company's stock after buying an additional 12,500 shares during the period. London Co. of Virginia owned 1.63% of Lancaster Colony worth $77,998,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LANC. Boston Trust Walden Corp raised its stake in shares of Lancaster Colony by 20.5% in the fourth quarter. Boston Trust Walden Corp now owns 305,264 shares of the company's stock valued at $52,853,000 after purchasing an additional 52,030 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Lancaster Colony by 89.1% during the 4th quarter. AQR Capital Management LLC now owns 105,560 shares of the company's stock valued at $18,277,000 after purchasing an additional 49,734 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Lancaster Colony during the 4th quarter valued at about $8,558,000. JPMorgan Chase & Co. lifted its holdings in shares of Lancaster Colony by 62.7% during the 4th quarter. JPMorgan Chase & Co. now owns 100,162 shares of the company's stock valued at $17,342,000 after purchasing an additional 38,583 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Lancaster Colony by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 2,200,002 shares of the company's stock valued at $380,908,000 after buying an additional 30,987 shares during the last quarter. Institutional investors own 66.44% of the company's stock.

Lancaster Colony Price Performance

NASDAQ LANC traded up $2.56 during mid-day trading on Friday, reaching $169.49. The stock had a trading volume of 160,603 shares, compared to its average volume of 146,909. The company has a fifty day moving average price of $176.93 and a 200 day moving average price of $180.85. Lancaster Colony Co. has a 1 year low of $156.14 and a 1 year high of $202.63. The stock has a market cap of $4.67 billion, a PE ratio of 29.79 and a beta of 0.50.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.54 EPS for the quarter, missing analysts' consensus estimates of $1.61 by ($0.07). The business had revenue of $457.84 million for the quarter, compared to the consensus estimate 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 was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.44 earnings per share. As a group, equities research analysts expect that Lancaster Colony Co. will post 6.8 earnings per share for the current year.

Lancaster Colony Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, June 6th. Lancaster Colony's dividend payout ratio (DPR) is presently 61.79%.

Analysts Set New Price Targets

Several research analysts have recently commented on LANC shares. StockNews.com downgraded Lancaster Colony from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Benchmark raised Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 price target for the company in a report on Thursday, May 1st. DA Davidson upped their target price on Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Finally, Stephens decreased their price target 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus 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.