Lancaster Colony Co. (NASDAQ:LANC) Shares Sold by Ade LLC
Ade LLC reduced its stake in Lancaster Colony Co. (NASDAQ:LANC – Get Rating) by 13.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,762 shares of the company’s stock after selling 871 shares during the period. Lancaster Colony makes up about 0.8% of Ade LLC’s holdings, making the stock its 25th largest holding. Ade LLC’s holdings in Lancaster Colony were worth $1,169,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. James Investment Research Inc. acquired a new stake in shares of Lancaster Colony in the fourth quarter valued at $29,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Lancaster Colony in the fourth quarter valued at $35,000. Atlas Capital Advisors LLC purchased a new position in Lancaster Colony in the fourth quarter valued at $46,000. Newbridge Financial Services Group Inc. purchased a new position in Lancaster Colony in the fourth quarter valued at $59,000. Finally, State of Wyoming purchased a new position in Lancaster Colony in the fourth quarter valued at $96,000. 59.90% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently commented on the company. Loop Capital assumed coverage on Lancaster Colony in a report on Thursday. They issued a “buy” rating and a $237.00 target price on the stock. StockNews.com raised Lancaster Colony from a “hold” rating to a “buy” rating in a report on Friday.
Lancaster Colony Stock Performance
Shares of LANC stock opened at $200.33 on Friday. The stock’s 50-day moving average is $203.11 and its two-hundred day moving average is $198.76. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 42.09 and a beta of 0.22. Lancaster Colony Co. has a 1 year low of $126.82 and a 1 year high of $220.65.
Lancaster Colony (NASDAQ:LANC – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.11). The firm had revenue of $464.94 million for the quarter, compared to analysts’ expectations of $443.08 million. Lancaster Colony had a return on equity of 16.13% and a net margin of 7.21%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 EPS. As a group, research analysts predict that Lancaster Colony Co. will post 5 EPS for the current year.
Lancaster Colony Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 9th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, June 8th. Lancaster Colony’s payout ratio is 71.43%.
About Lancaster Colony
Lancaster Colony Corporation engages in the manufacturing and marketing of food products for the retail and foodservice markets 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; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti; and frozen pasta under the Marzetti Frozen Pasta brand.
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