Victory Capital Management Inc. Grows Stake in Lancaster Colony Co. (NASDAQ:LANC)

Victory Capital Management Inc. lifted its stake in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 26.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 415,629 shares of the company's stock after acquiring an additional 86,994 shares during the period. Victory Capital Management Inc. owned approximately 1.51% of Lancaster Colony worth $69,157,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. UMB Bank n.a. raised its holdings in shares of Lancaster Colony by 11.8% during the fourth quarter. UMB Bank n.a. now owns 894 shares of the company's stock valued at $149,000 after acquiring an additional 94 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Lancaster Colony by 141.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,181 shares of the company's stock valued at $195,000 after buying an additional 691 shares during the period. Laurion Capital Management LP purchased a new position in Lancaster Colony in the third quarter worth about $205,000. Nisa Investment Advisors LLC grew its position in Lancaster Colony by 235.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the company's stock valued at $225,000 after buying an additional 950 shares during the period. Finally, Keybank National Association OH increased its stake in shares of Lancaster Colony by 48.8% in the 3rd quarter. Keybank National Association OH now owns 1,525 shares of the company's stock worth $252,000 after purchasing an additional 500 shares in the last quarter. 66.44% of the stock is currently owned by institutional investors.

Insider Activity

In other Lancaster Colony news, insider Kristin Bird sold 1,207 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $192.66, for a total transaction of $232,540.62. Following the completion of the sale, the insider now owns 3,546 shares of the company's stock, valued at $683,172.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 29.60% of the company's stock.

Lancaster Colony Price Performance

Shares of NASDAQ LANC traded down $0.50 during midday trading on Friday, hitting $191.50. 149,123 shares of the company's stock were exchanged, compared to its average volume of 135,980. The firm's fifty day simple moving average is $199.06 and its 200-day simple moving average is $182.34. Lancaster Colony Co. has a twelve month low of $158.88 and a twelve month high of $220.65. The company has a market cap of $5.27 billion, a PE ratio of 39.73 and a beta of 0.39.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.02. Lancaster Colony had a net margin of 7.10% and a return on equity of 18.96%. The firm had revenue of $471.40 million for the quarter, compared to analyst estimates of $467.90 million. During the same period last year, the firm posted $0.89 EPS. Lancaster Colony's quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts anticipate that Lancaster Colony Co. will post 6.47 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 7th were given a dividend of $0.90 per share. The ex-dividend date was Wednesday, March 6th. This represents a $3.60 dividend on an annualized basis and a yield of 1.88%. Lancaster Colony's dividend payout ratio (DPR) is currently 74.69%.

Wall Street Analyst Weigh In

LANC has been the topic of a number of research reports. StockNews.com raised Lancaster Colony from a "hold" rating to a "buy" rating in a research note on Friday. Stephens reaffirmed an "equal weight" rating and set a $218.00 target price on shares of Lancaster Colony in a research note on Friday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $198.75.

Lancaster Colony Company 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.