Benjamin Edwards Inc. Lowers Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Benjamin Edwards Inc. reduced its stake in shares of Lancaster Colony Co. (NASDAQ:LANC) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,757 shares of the company’s stock after selling 53 shares during the quarter. Benjamin Edwards Inc.’s holdings in Lancaster Colony were worth $292,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. UMB Bank n.a. raised its position in shares of Lancaster Colony by 11.8% in the fourth quarter. UMB Bank n.a. now owns 894 shares of the company’s stock worth $149,000 after acquiring an additional 94 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Lancaster Colony by 141.0% in the third quarter. Daiwa Securities Group Inc. now owns 1,181 shares of the company’s stock valued at $195,000 after buying an additional 691 shares in the last quarter. Laurion Capital Management LP acquired a new position in shares of Lancaster Colony during the 3rd quarter worth approximately $205,000. Nisa Investment Advisors LLC lifted its position in shares of Lancaster Colony by 235.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the company’s stock valued at $225,000 after buying an additional 950 shares in the last quarter. Finally, Keybank National Association OH grew its stake in Lancaster Colony by 48.8% in the 3rd quarter. Keybank National Association OH now owns 1,525 shares of the company’s stock valued at $252,000 after acquiring an additional 500 shares during the period. 66.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LANC has been the subject of a number of research analyst reports. Stephens restated an “equal weight” rating and set a $218.00 price objective on shares of Lancaster Colony in a research report on Friday. StockNews.com upgraded Lancaster Colony from a “hold” rating to a “buy” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Lancaster Colony has a consensus rating of “Hold” and a consensus target price of $198.75.

Insider Activity

In other Lancaster Colony news, insider Kristin Bird sold 1,207 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $192.66, for a total transaction of $232,540.62. Following the completion of the sale, the insider now owns 3,546 shares of the company’s stock, valued at $683,172.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 29.60% of the company’s stock.

Lancaster Colony Stock Down 0.3 %

LANC traded down $0.50 during trading on Friday, reaching $191.50. The company’s stock had a trading volume of 149,123 shares, compared to its average volume of 135,980. The firm has a fifty day simple moving average of $199.06 and a two-hundred day simple moving average of $182.30. The company has a market cap of $5.27 billion, a price-to-earnings ratio of 39.73 and a beta of 0.39. Lancaster Colony Co. has a 1 year low of $158.88 and a 1 year high of $220.65.

Lancaster Colony (NASDAQ:LANC) last issued its earnings results on Thursday, May 2nd. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.02. Lancaster Colony had a return on equity of 18.96% and a net margin of 7.10%. The company had revenue of $471.40 million during the quarter, compared to analysts’ expectations of $467.90 million. During the same period in the prior year, the business earned $0.89 EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities analysts forecast that Lancaster Colony Co. will post 6.47 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 7th were issued a $0.90 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $3.60 annualized dividend and a yield of 1.88%. Lancaster Colony’s payout ratio is 74.69%.

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.