Swiss National Bank Sells 4,300 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Swiss National Bank decreased its stake in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 10.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,026 shares of the company's stock after selling 4,300 shares during the period. Swiss National Bank owned 0.14% of Lancaster Colony worth $6,327,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in LANC. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Lancaster Colony by 1.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,127 shares of the company's stock valued at $687,000 after buying an additional 55 shares during the period. Arizona State Retirement System grew its position in shares of Lancaster Colony by 1.2% during the third quarter. Arizona State Retirement System now owns 5,485 shares of the company's stock worth $905,000 after buying an additional 64 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of Lancaster Colony by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 25,503 shares of the company's stock worth $4,243,000 after purchasing an additional 73 shares during the last quarter. UMB Bank n.a. raised its stake in 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 buying an additional 94 shares in the last quarter. Finally, State of Michigan Retirement System lifted its stake in Lancaster Colony by 2.1% during the fourth quarter. State of Michigan Retirement System now owns 4,932 shares of the company's stock worth $821,000 after purchasing an additional 100 shares during the last quarter. 66.44% of the stock is owned by institutional investors and hedge funds.

Lancaster Colony Trading Down 0.4 %

Shares of LANC traded down $0.82 during midday trading on Thursday, hitting $192.57. The stock had a trading volume of 78,657 shares, compared to its average volume of 133,627. Lancaster Colony Co. has a fifty-two week low of $158.88 and a fifty-two week high of $215.31. The firm has a market cap of $5.30 billion, a P/E ratio of 39.95 and a beta of 0.39. The business has a 50-day simple moving average of $197.46 and a two-hundred day simple moving average of $183.87.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last issued its earnings results 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 return on equity of 18.96% and a net margin of 7.10%. The company had revenue of $471.40 million for the quarter, compared to the consensus estimate of $467.90 million. During the same quarter in the prior year, the company earned $0.89 EPS. The firm's quarterly revenue was up 1.4% on a year-over-year basis. On average, analysts expect that Lancaster Colony Co. will post 6.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

LANC has been the subject of a number of research reports. Stephens restated an "equal weight" rating and issued a $218.00 target price on shares of Lancaster Colony in a research note on Friday, May 3rd. StockNews.com raised Lancaster Colony from a "hold" rating to a "buy" rating in a research note on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $198.75.

Insider Activity at Lancaster Colony

In related news, insider Kristin Bird sold 1,207 shares of Lancaster Colony stock in a transaction on Friday, February 16th. The shares were sold at an average price of $192.66, for a total value of $232,540.62. Following the completion of the sale, the insider now owns 3,546 shares of the company's stock, valued at approximately $683,172.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 29.60% of the company's stock.

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.