Quantbot Technologies LP boosted its position in Lancaster Colony Corp. (NASDAQ:LANC) by 189.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,612 shares of the company’s stock after purchasing an additional 2,363 shares during the period. Quantbot Technologies LP’s holdings in Lancaster Colony were worth $538,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. purchased a new stake in Lancaster Colony in the 3rd quarter worth approximately $118,000. Fort L.P. purchased a new stake in Lancaster Colony in the 2nd quarter worth approximately $123,000. Hendley & Co. Inc. purchased a new stake in Lancaster Colony in the 3rd quarter worth approximately $201,000. O Shaughnessy Asset Management LLC purchased a new stake in Lancaster Colony in the 3rd quarter worth approximately $220,000. Finally, Parametrica Management Ltd purchased a new stake in Lancaster Colony in the 3rd quarter worth approximately $545,000. 53.55% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Timothy A. Tate sold 747 shares of the business’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $176.01, for a total transaction of $131,479.47. Following the completion of the sale, the senior vice president now directly owns 1,563 shares of the company’s stock, valued at approximately $275,103.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 31.80% of the stock is owned by insiders.
Several analysts have recently issued reports on LANC shares. BidaskClub raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Friday, November 9th. ValuEngine raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Friday, October 19th. Finally, CL King cut shares of Lancaster Colony from a “buy” rating to a “neutral” rating in a research note on Friday, August 10th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Lancaster Colony presently has an average rating of “Hold” and an average price target of $150.00.
Shares of NASDAQ LANC opened at $176.03 on Friday. Lancaster Colony Corp. has a 52-week low of $115.81 and a 52-week high of $189.34. The firm has a market cap of $4.89 billion, a PE ratio of 37.56 and a beta of 0.54.
Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings data on Thursday, October 25th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.15. Lancaster Colony had a net margin of 11.68% and a return on equity of 20.23%. The company had revenue of $316.65 million during the quarter.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 7th will be paid a dividend of $0.65 per share. The ex-dividend date is Thursday, December 6th. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a dividend yield of 1.48%.
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Lancaster Colony Profile
Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates through two segments, Retail and Foodservice. It offers frozen garlic breads under the New York BRAND Bakery brand; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand name; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardini's, and Girard's brands; and vegetable dips and fruit dips under the Marzetti brand.
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