Integrated Wealth Concepts LLC Sells 168 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Integrated Wealth Concepts LLC lowered its stake in Lancaster Colony Co. (NASDAQ:LANC) by 11.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,269 shares of the company’s stock after selling 168 shares during the period. Integrated Wealth Concepts LLC’s holdings in Lancaster Colony were worth $224,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of LANC. Dimensional Fund Advisors LP grew its position in shares of Lancaster Colony by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 520,335 shares of the company’s stock valued at $98,326,000 after purchasing an additional 25,072 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Lancaster Colony by 5.5% in the 2nd quarter. Renaissance Technologies LLC now owns 306,080 shares of the company’s stock valued at $57,840,000 after buying an additional 15,962 shares in the last quarter. Bank of New York Mellon Corp increased its position in Lancaster Colony by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 241,646 shares of the company’s stock worth $45,664,000 after buying an additional 4,327 shares during the period. Blair William & Co. IL lifted its holdings in shares of Lancaster Colony by 2,386.6% during the second quarter. Blair William & Co. IL now owns 172,075 shares of the company’s stock worth $32,517,000 after buying an additional 165,155 shares in the last quarter. Finally, Wesbanco Bank Inc. lifted its holdings in shares of Lancaster Colony by 4,189.1% during the third quarter. Wesbanco Bank Inc. now owns 163,800 shares of the company’s stock worth $28,922,000 after buying an additional 159,981 shares in the last quarter. 66.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LANC has been the topic of a number of recent research reports. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. Stephens reaffirmed an “equal weight” rating and set a $196.00 target price on shares of Lancaster Colony in a report on Tuesday, November 19th. Loop Capital cut their price target on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, StockNews.com downgraded Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd.

Lancaster Colony Stock Up 0.8 %

LANC opened at $198.10 on Friday. Lancaster Colony Co. has a twelve month low of $161.54 and a twelve month high of $215.31. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 34.27 and a beta of 0.35. The company has a 50-day simple moving average of $183.80 and a 200 day simple moving average of $184.14.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.08). Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The firm had revenue of $466.56 million for the quarter, compared to analyst estimates of $468.36 million. During the same quarter in the prior year, the business posted $1.70 EPS. The business’s revenue was up 1.1% on a year-over-year basis. Sell-side analysts anticipate that Lancaster Colony Co. will post 6.7 EPS for the current fiscal year.

Lancaster Colony Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.95 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.92%. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.90. Lancaster Colony’s payout ratio is 65.74%.

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.