Lancaster Colony Co. (NASDAQ:LANC) Shares Sold by AlphaQuest LLC

AlphaQuest LLC lowered its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 90.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 723 shares of the company’s stock after selling 6,857 shares during the period. AlphaQuest LLC’s holdings in Lancaster Colony were worth $125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Bay Advisors LLC acquired a new stake in shares of Lancaster Colony during the 4th quarter worth approximately $38,000. GAMMA Investing LLC increased its holdings in shares of Lancaster Colony by 56.4% during the 4th quarter. GAMMA Investing LLC now owns 280 shares of the company’s stock worth $48,000 after buying an additional 101 shares during the last quarter. KBC Group NV increased its holdings in shares of Lancaster Colony by 80.4% during the 4th quarter. KBC Group NV now owns 893 shares of the company’s stock worth $155,000 after buying an additional 398 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Lancaster Colony by 62.1% during the 4th quarter. Blue Trust Inc. now owns 932 shares of the company’s stock worth $165,000 after buying an additional 357 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Lancaster Colony during the 3rd quarter worth approximately $220,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Lancaster Colony Trading Up 1.8 %

LANC opened at $183.21 on Tuesday. The stock’s 50-day moving average price is $181.43 and its 200 day moving average price is $181.26. Lancaster Colony Co. has a 12-month low of $163.20 and a 12-month high of $209.08. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of 32.20 and a beta of 0.31.

Lancaster Colony (NASDAQ:LANC) last posted its earnings results on Tuesday, February 4th. The company reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.28. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The firm had revenue of $509.30 million for the quarter, compared to analyst estimates of $495.43 million. During the same quarter in the prior year, the company earned $1.87 EPS. Lancaster Colony’s revenue was up 4.8% on a year-over-year basis. On average, research analysts forecast that Lancaster Colony Co. will post 6.8 earnings per share for the current year.

Lancaster Colony Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, March 7th. Lancaster Colony’s payout ratio is 66.78%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LANC. StockNews.com upgraded shares of Lancaster Colony from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th. DA Davidson boosted their target price on Lancaster Colony from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Stephens boosted their target price on Lancaster Colony from $196.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $211.33.

Insider Buying and Selling at Lancaster Colony

In other Lancaster Colony news, CEO David Alan Ciesinski sold 17,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $191.19, for a total value of $3,250,230.00. Following the sale, the chief executive officer now owns 54,644 shares of the company’s stock, valued at $10,447,386.36. This trade represents a 23.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 29.50% of the stock is owned by corporate insiders.

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.