Point72 Asia Singapore Pte. Ltd. Decreases Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Point72 Asia Singapore Pte. Ltd. cut its stake in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 78.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 833 shares of the company's stock after selling 3,041 shares during the quarter. Point72 Asia Singapore Pte. Ltd.'s holdings in Lancaster Colony were worth $144,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in LANC. Independence Bank of Kentucky purchased a new position in Lancaster Colony in the fourth quarter worth about $630,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Lancaster Colony by 24.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,177 shares of the company's stock worth $2,281,000 after buying an additional 2,559 shares during the last quarter. Bank of New York Mellon Corp grew its position in Lancaster Colony by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 213,854 shares of the company's stock valued at $37,027,000 after buying an additional 9,861 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Lancaster Colony by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 285,999 shares of the company's stock valued at $49,518,000 after buying an additional 5,168 shares during the last quarter. Finally, Wealthfront Advisers LLC bought a new position in Lancaster Colony in the fourth quarter worth approximately $318,000. 66.44% of the stock is currently owned by institutional investors.

Lancaster Colony Price Performance

Shares of LANC stock traded down $0.61 on Thursday, hitting $162.63. 27,215 shares of the stock traded hands, compared to its average volume of 146,854. Lancaster Colony Co. has a 52 week low of $156.14 and a 52 week high of $202.63. The firm has a 50 day simple moving average of $176.12 and a two-hundred day simple moving average of $180.57. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 28.50 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). Lancaster Colony had a net margin of 8.26% and a return on equity of 19.51%. The business had revenue of $457.84 million for the quarter, compared to the consensus estimate of $483.47 million. During the same period in the prior year, the business earned $1.44 earnings per share. Lancaster Colony's revenue was down 2.9% compared to the same quarter last year. Sell-side analysts forecast that Lancaster Colony Co. will post 6.8 EPS for the current year.

Lancaster Colony Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.34%. The ex-dividend date is Friday, June 6th. Lancaster Colony's dividend payout ratio (DPR) is presently 61.79%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Stephens reduced their price objective 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. DA Davidson upped their price target on Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Benchmark raised Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 price objective on the stock in a research note on Thursday, May 1st. Finally, Wall Street Zen downgraded Lancaster Colony from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $203.50.

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.