ProShare Advisors LLC Has $41.22 Million Position in Lancaster Colony Co. (NASDAQ:LANC)

ProShare Advisors LLC boosted its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 10.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 238,055 shares of the company's stock after acquiring an additional 22,019 shares during the quarter. ProShare Advisors LLC owned approximately 0.86% of Lancaster Colony worth $41,217,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Arizona State Retirement System raised its position in Lancaster Colony by 1.0% during the fourth quarter. Arizona State Retirement System now owns 5,604 shares of the company's stock valued at $970,000 after acquiring an additional 55 shares in the last quarter. Principal Securities Inc. raised its position in Lancaster Colony by 5.6% during the fourth quarter. Principal Securities Inc. now owns 1,280 shares of the company's stock valued at $222,000 after acquiring an additional 68 shares in the last quarter. Coldstream Capital Management Inc. raised its position in Lancaster Colony by 5.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,609 shares of the company's stock valued at $279,000 after acquiring an additional 77 shares in the last quarter. Captrust Financial Advisors raised its position in Lancaster Colony by 3.6% during the fourth quarter. Captrust Financial Advisors now owns 2,323 shares of the company's stock valued at $402,000 after acquiring an additional 80 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its position in Lancaster Colony by 0.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 15,978 shares of the company's stock valued at $2,766,000 after acquiring an additional 95 shares in the last quarter. Institutional investors own 66.44% of the company's stock.

Wall Street Analysts Forecast Growth

LANC has been the topic of several recent research reports. Stephens cut their price objective on shares of Lancaster Colony from $200.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Benchmark upgraded Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 price target on the stock in a report on Thursday, May 1st. DA Davidson increased their price target on Lancaster Colony from $192.00 to $207.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Finally, StockNews.com downgraded Lancaster Colony from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Three equities 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.com, the company presently has a consensus rating of "Hold" and a consensus target price of $203.50.

Lancaster Colony Price Performance

Shares of Lancaster Colony stock traded down $2.12 during midday trading on Monday, hitting $167.37. The company had a trading volume of 91,010 shares, compared to its average volume of 146,847. The business's 50 day simple moving average is $176.66 and its two-hundred day simple moving average is $180.78. The stock has a market cap of $4.61 billion, a PE ratio of 29.41 and a beta of 0.50. Lancaster Colony Co. has a 1-year low of $156.14 and a 1-year high of $202.63.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.07). The company had revenue of $457.84 million during the quarter, compared to analyst estimates of $483.47 million. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The company's revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.44 EPS. On average, sell-side analysts expect that Lancaster Colony Co. will post 6.8 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

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

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.