Lancaster Colony Co. (NASDAQ:LANC) Shares Purchased by Voya Investment Management LLC

Voya Investment Management LLC grew its stake in Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 145.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,430 shares of the company's stock after acquiring an additional 15,057 shares during the period. Voya Investment Management LLC owned 0.09% of Lancaster Colony worth $4,403,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Arizona State Retirement System raised its holdings in shares of Lancaster Colony by 1.0% in the 4th quarter. Arizona State Retirement System now owns 5,604 shares of the company's stock valued at $970,000 after purchasing an additional 55 shares in the last quarter. Principal Securities Inc. increased its holdings 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 buying an additional 68 shares during the period. Summit Investment Advisors Inc. raised its stake in Lancaster Colony by 0.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 15,978 shares of the company's stock worth $2,766,000 after buying an additional 95 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Lancaster Colony by 0.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 11,687 shares of the company's stock worth $2,023,000 after buying an additional 98 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in Lancaster Colony by 1.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 5,400 shares of the company's stock valued at $935,000 after acquiring an additional 100 shares in the last quarter. 66.44% of the stock is owned by hedge funds and other institutional investors.

Lancaster Colony Stock Up 1.4 %

Shares of Lancaster Colony stock traded up $2.19 during midday trading on Friday, hitting $162.80. The company had a trading volume of 347,200 shares, compared to its average volume of 142,845. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 28.61 and a beta of 0.38. Lancaster Colony Co. has a 12-month low of $156.14 and a 12-month high of $202.63. The company has a fifty day simple moving average of $181.91 and a 200 day simple moving average of $181.70.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last issued its 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 firm had revenue of $457.84 million during the quarter, compared to analysts' expectations of $483.47 million. During the same quarter in the prior year, the company earned $1.44 EPS. Lancaster Colony's quarterly revenue was down 2.9% on a year-over-year basis. As a group, analysts expect that Lancaster Colony Co. will post 6.8 EPS for the current year.

Lancaster Colony Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a dividend of $0.95 per share. The ex-dividend date was Friday, March 7th. This represents a $3.80 dividend on an annualized basis and a yield of 2.33%. Lancaster Colony's dividend payout ratio is presently 61.79%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LANC shares. StockNews.com upgraded Lancaster Colony from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. DA Davidson raised their price target on shares of Lancaster Colony from $192.00 to $207.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Benchmark upgraded 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. Finally, Stephens lowered their target price 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. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $203.50.

Insider Buying and Selling at Lancaster Colony

In other 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 completion of the transaction, the chief executive officer now owns 54,644 shares of the company's stock, valued at $10,447,386.36. The trade was a 23.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 29.50% of the stock is owned by corporate insiders.

About Lancaster Colony

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.