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

Point72 Asia Singapore Pte. Ltd. lessened its stake in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 78.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 833 shares of the company's stock after selling 3,041 shares during the period. 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.

Several other hedge funds and other institutional investors have also made changes to their positions in LANC. Barclays PLC boosted its holdings in shares of Lancaster Colony by 125.5% during the 3rd quarter. Barclays PLC now owns 44,189 shares of the company's stock valued at $7,803,000 after purchasing an additional 24,589 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Lancaster Colony by 22.6% in the fourth quarter. Park Avenue Securities LLC now owns 6,278 shares of the company's stock worth $1,087,000 after purchasing an additional 1,157 shares during the last quarter. SG Americas Securities LLC lifted its stake in Lancaster Colony by 336.2% in the fourth quarter. SG Americas Securities LLC now owns 23,393 shares of the company's stock worth $4,050,000 after purchasing an additional 18,030 shares during the last quarter. Wolff Financial Management LLC lifted its stake in Lancaster Colony by 3.0% in the fourth quarter. Wolff Financial Management LLC now owns 23,799 shares of the company's stock worth $4,121,000 after purchasing an additional 695 shares during the last quarter. Finally, Tributary Capital Management LLC lifted its stake in Lancaster Colony by 46.5% in the fourth quarter. Tributary Capital Management LLC now owns 4,446 shares of the company's stock worth $770,000 after purchasing an additional 1,412 shares during the last quarter. Institutional investors own 66.44% of the company's stock.

Lancaster Colony Price Performance

Shares of NASDAQ:LANC traded up $0.09 during trading on Tuesday, reaching $167.46. 107,825 shares of the company were exchanged, compared to its average volume of 147,015. The firm has a market capitalization of $4.62 billion, a PE ratio of 29.43 and a beta of 0.50. The business's fifty day simple moving average is $176.46 and its 200-day simple moving average is $180.69. Lancaster Colony Co. has a 12-month low of $156.14 and a 12-month high of $202.63.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $483.47 million. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The business's quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $1.44 EPS. On average, sell-side analysts anticipate that Lancaster Colony Co. will post 6.8 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.27%. The ex-dividend date is Friday, June 6th. Lancaster Colony's dividend payout ratio is currently 61.79%.

Wall Street Analyst Weigh In

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