Lancaster Colony Co. (NASDAQ:LANC) Stock Position Raised by Nisa Investment Advisors LLC

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Nisa Investment Advisors LLC raised its position in shares of Lancaster Colony Co. (NASDAQ:LANCGet Rating) by 206.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306 shares of the company’s stock after purchasing an additional 206 shares during the period. Nisa Investment Advisors LLC’s holdings in Lancaster Colony were worth $46,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Louisiana State Employees Retirement System raised its stake in shares of Lancaster Colony by 2.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 5,200 shares of the company’s stock valued at $824,000 after acquiring an additional 100 shares in the last quarter. Covestor Ltd bought a new position in shares of Lancaster Colony in the 4th quarter valued at approximately $54,000. Legacy Wealth Asset Management LLC raised its stake in shares of Lancaster Colony by 4.3% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 3,450 shares of the company’s stock valued at $571,000 after acquiring an additional 141 shares in the last quarter. Yousif Capital Management LLC bought a new position in shares of Lancaster Colony in the 4th quarter valued at approximately $1,705,000. Finally, GW&K Investment Management LLC raised its stake in shares of Lancaster Colony by 5.0% in the 4th quarter. GW&K Investment Management LLC now owns 287,658 shares of the company’s stock valued at $47,636,000 after acquiring an additional 13,722 shares in the last quarter. 57.30% of the stock is owned by hedge funds and other institutional investors.

Lancaster Colony Stock Down 0.6 %

Shares of NASDAQ LANC opened at $132.38 on Friday. The business’s 50 day moving average is $126.48 and its two-hundred day moving average is $144.52. The company has a market cap of $3.64 billion, a P/E ratio of 39.63 and a beta of 0.13. Lancaster Colony Co. has a 12 month low of $116.85 and a 12 month high of $198.81.

Lancaster Colony (NASDAQ:LANCGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.46 earnings per share for the quarter. Lancaster Colony had a return on equity of 12.98% and a net margin of 5.73%. The company had revenue of $403.49 million for the quarter. Sell-side analysts expect that Lancaster Colony Co. will post 2.7 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Thursday, June 9th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Wednesday, June 8th. Lancaster Colony’s payout ratio is presently 95.81%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LANC. Benchmark downgraded Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, May 6th. Cowen began coverage on Lancaster Colony in a research note on Monday, May 23rd. They issued a “market perform” rating and a $140.00 price objective on the stock. TheStreet downgraded Lancaster Colony from a “b-” rating to a “c” rating in a research report on Tuesday, May 17th. CL King began coverage on Lancaster Colony in a research report on Tuesday, June 14th. They issued a “neutral” rating on the stock. Finally, StockNews.com raised Lancaster Colony from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Lancaster Colony currently has an average rating of “Hold” and a consensus target price of $153.67.

Insider Transactions at Lancaster Colony

In other news, CFO K. Pigott Thomas acquired 800 shares of the firm’s stock in a transaction dated Thursday, May 19th. The shares were bought at an average price of $121.70 per share, with a total value of $97,360.00. Following the acquisition, the chief financial officer now owns 5,817 shares of the company’s stock, valued at $707,928.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 29.90% of the stock is owned by insiders.

Lancaster Colony Company Profile

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Lancaster Colony Corporation manufactures and markets food products for the retail and foodservice markets in the United States. The company operates in two segments, Retail and Foodservice. It 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, Cardini’s, and Girard’s; flatbread wraps and pizza crusts under the Flatout brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti; frozen pasta under the Marzetti Frozen Pasta brand; and vegetable and fruit dips under the Marzetti brand.

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