Schonfeld Strategic Advisors LLC acquired a new position in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,562 shares of the company's stock, valued at approximately $790,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new position in shares of Lancaster Colony during the fourth quarter valued at approximately $38,000. GAMMA Investing LLC grew its holdings in Lancaster Colony by 56.4% in the 4th quarter. GAMMA Investing LLC now owns 280 shares of the company's stock valued at $48,000 after buying an additional 101 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Lancaster Colony by 1,078.9% during the 4th quarter. Farther Finance Advisors LLC now owns 448 shares of the company's stock worth $78,000 after acquiring an additional 410 shares during the period. Covestor Ltd boosted its position in shares of Lancaster Colony by 48.4% in the fourth quarter. Covestor Ltd now owns 724 shares of the company's stock worth $126,000 after acquiring an additional 236 shares during the last quarter. Finally, KBC Group NV increased its position in Lancaster Colony by 80.4% during the fourth quarter. KBC Group NV now owns 893 shares of the company's stock worth $155,000 after purchasing an additional 398 shares during the last quarter. Institutional investors and hedge funds own 66.44% of the company's stock.
Insider Transactions at Lancaster Colony
In related news, CEO David Alan Ciesinski sold 17,000 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $191.19, for a total value of $3,250,230.00. Following the transaction, the chief executive officer now owns 54,644 shares in the company, valued at approximately $10,447,386.36. The trade was a 23.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 29.50% of the company's stock.
Lancaster Colony Stock Performance
Lancaster Colony stock traded down $1.72 during trading on Wednesday, reaching $165.87. 40,577 shares of the company's stock were exchanged, compared to its average volume of 145,507. Lancaster Colony Co. has a 52-week low of $156.14 and a 52-week high of $202.63. The company's 50-day moving average is $178.17 and its two-hundred day moving average is $181.15. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 29.15 and a beta of 0.50.
Lancaster Colony (NASDAQ:LANC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.54 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.07). Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The company had revenue of $457.84 million for the quarter, compared to analyst estimates of $483.47 million. During the same period last year, the firm posted $1.44 earnings per share. The business's revenue was down 2.9% on a year-over-year basis. Analysts anticipate that Lancaster Colony Co. will post 6.8 EPS for the current year.
Analyst Ratings Changes
LANC has been the subject of several research reports. DA Davidson boosted their price objective on shares of Lancaster Colony from $192.00 to $207.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Benchmark upgraded Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 price target for the company in a research note on Thursday, May 1st. Stephens reduced their price objective on Lancaster Colony from $200.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, StockNews.com downgraded shares of Lancaster Colony from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $203.50.
Read Our Latest Stock Report on Lancaster Colony
About Lancaster Colony
(
Free Report)
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.
Recommended Stories
Before you consider Lancaster Colony, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lancaster Colony wasn't on the list.
While Lancaster Colony currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
