Landscape Capital Management L.L.C. bought a new position in shares of Lancaster Colony Co. (NASDAQ:LANC – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 21,819 shares of the company’s stock, valued at approximately $3,853,000. Landscape Capital Management L.L.C. owned approximately 0.08% of Lancaster Colony as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in Lancaster Colony in the 2nd quarter worth about $28,000. V Square Quantitative Management LLC bought a new position in shares of Lancaster Colony during the third quarter worth approximately $27,000. GAMMA Investing LLC raised its position in shares of Lancaster Colony by 115.9% in the second quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock valued at $33,000 after buying an additional 95 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Lancaster Colony in the second quarter valued at approximately $38,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Lancaster Colony during the second quarter worth approximately $74,000. Institutional investors own 66.44% of the company’s stock.
Lancaster Colony Stock Down 0.1 %
NASDAQ:LANC opened at $179.50 on Thursday. Lancaster Colony Co. has a twelve month low of $161.54 and a twelve month high of $215.31. The stock’s 50-day simple moving average is $181.11 and its 200 day simple moving average is $184.73. The firm has a market capitalization of $4.95 billion, a PE ratio of 31.06 and a beta of 0.35.
Lancaster Colony Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, December 5th. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.90. Lancaster Colony’s payout ratio is presently 62.28%.
Insider Transactions at Lancaster Colony
In other news, Director Elliot K. Fullen purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average cost of $169.00 per share, with a total value of $507,000.00. Following the completion of the purchase, the director now owns 5,298 shares of the company’s stock, valued at $895,362. This trade represents a 130.55 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 29.50% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have weighed in on LANC shares. StockNews.com cut Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Stephens reaffirmed an “equal weight” rating and issued a $196.00 price target on shares of Lancaster Colony in a research note on Tuesday. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research note on Tuesday. Finally, Loop Capital decreased their target price on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $193.50.
Read Our Latest Report on LANC
Lancaster Colony Profile
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.
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