WCM Investment Management LLC Acquires 16,496 Shares of Lancaster Colony Co. (NASDAQ:LANC)

WCM Investment Management LLC lifted its holdings in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 16.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 114,706 shares of the company's stock after purchasing an additional 16,496 shares during the quarter. WCM Investment Management LLC owned about 0.42% of Lancaster Colony worth $19,076,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Atlas Capital Advisors LLC bought a new stake in Lancaster Colony in the 4th quarter valued at approximately $46,000. Lazard Asset Management LLC bought a new stake in Lancaster Colony in the 2nd quarter valued at approximately $47,000. Sunbelt Securities Inc. bought a new stake in Lancaster Colony in the 1st quarter valued at approximately $50,000. Qube Research & Technologies Ltd bought a new stake in Lancaster Colony in the 3rd quarter valued at approximately $71,000. Finally, State of Wyoming bought a new stake in Lancaster Colony in the 4th quarter valued at approximately $96,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Lancaster Colony Trading Down 1.2 %

Shares of Lancaster Colony stock traded down $2.46 on Friday, reaching $196.11. 93,124 shares of the company were exchanged, compared to its average volume of 109,867. Lancaster Colony Co. has a one year low of $158.88 and a one year high of $220.65. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 41.90 and a beta of 0.35. The company has a 50-day moving average of $200.12 and a 200 day moving average of $180.43.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.27. Lancaster Colony had a return on equity of 17.37% and a net margin of 6.92%. The company had revenue of $485.92 million for the quarter, compared to analysts' expectations of $489.00 million. Analysts predict that Lancaster Colony Co. will post 6.47 earnings per share for the current year.

Lancaster Colony Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 7th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Wednesday, March 6th. Lancaster Colony's dividend payout ratio (DPR) is presently 76.92%.

Insider Activity at Lancaster Colony

In related news, insider Kristin Bird sold 1,207 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $192.66, for a total value of $232,540.62. Following the sale, the insider now owns 3,546 shares in the company, valued at approximately $683,172.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 29.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Stephens cut Lancaster Colony from an "overweight" rating to an "equal weight" rating and boosted their target price for the company from $205.00 to $218.00 in a research note on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Lancaster Colony currently has a consensus rating of "Hold" and a consensus price target of $198.75.

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.