Welch & Forbes LLC lifted its position in Lancaster Colony Corp. (NASDAQ:LANC) by 0.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 94,325 shares of the company’s stock after buying an additional 655 shares during the period. Welch & Forbes LLC owned approximately 0.34% of Lancaster Colony worth $13,078,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of LANC. Krane Funds Advisors LLC acquired a new position in shares of Lancaster Colony in the 2nd quarter worth $58,000. Advisory Services Network LLC acquired a new position in shares of Lancaster Colony in the 2nd quarter worth $78,000. Tower Research Capital LLC TRC grew its holdings in shares of Lancaster Colony by 35.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 587 shares of the company’s stock worth $88,000 after acquiring an additional 153 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Lancaster Colony by 51.6% in the 2nd quarter. Signaturefd LLC now owns 743 shares of the company’s stock worth $110,000 after acquiring an additional 253 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new position in shares of Lancaster Colony in the 2nd quarter worth $149,000. 55.30% of the stock is currently owned by institutional investors.
In other news, Director Neeli Bendapudi sold 1,600 shares of Lancaster Colony stock in a transaction on Saturday, September 7th. The stock was sold at an average price of $157.37, for a total transaction of $251,792.00. Following the transaction, the director now owns 7,800 shares in the company, valued at $1,227,486. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 31.80% of the company’s stock.
Shares of NASDAQ LANC traded up $3.46 during mid-day trading on Friday, reaching $140.42. The company had a trading volume of 4,823 shares, compared to its average volume of 124,449. The stock has a market cap of $3.72 billion, a PE ratio of 26.60 and a beta of 0.29. The company has a 50-day moving average price of $143.95 and a two-hundred day moving average price of $149.01. Lancaster Colony Corp. has a 1-year low of $133.77 and a 1-year high of $194.38.
Lancaster Colony (NASDAQ:LANC) last issued its earnings results on Tuesday, August 27th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.29 by ($0.20). Lancaster Colony had a return on equity of 19.88% and a net margin of 11.51%. The company had revenue of $323.67 million during the quarter, compared to analyst estimates of $331.56 million. During the same quarter in the previous year, the firm earned $1.18 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were issued a dividend of $0.65 per share. The ex-dividend date was Friday, September 6th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.85%.
LANC has been the topic of a number of recent research reports. Sidoti set a $154.00 target price on Lancaster Colony and gave the stock a “hold” rating in a report on Wednesday, September 18th. BidaskClub cut Lancaster Colony from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st.
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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