Arizona State Retirement System boosted its stake in shares of Lancaster Colony Corp. (NASDAQ:LANC) by 27.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,025 shares of the company’s stock after buying an additional 2,989 shares during the period. Arizona State Retirement System owned 0.05% of Lancaster Colony worth $1,812,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LANC. Crossmark Global Holdings Inc. acquired a new position in Lancaster Colony during the third quarter worth $243,000. Principal Financial Group Inc. boosted its stake in Lancaster Colony by 1.6% during the third quarter. Principal Financial Group Inc. now owns 83,544 shares of the company’s stock worth $10,035,000 after buying an additional 1,282 shares during the last quarter. Bessemer Group Inc. boosted its stake in Lancaster Colony by 2.7% during the third quarter. Bessemer Group Inc. now owns 19,300 shares of the company’s stock worth $2,318,000 after buying an additional 500 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Lancaster Colony during the third quarter worth $151,000. Finally, Retirement Systems of Alabama boosted its stake in Lancaster Colony by 45.9% during the third quarter. Retirement Systems of Alabama now owns 36,646 shares of the company’s stock worth $4,402,000 after buying an additional 11,528 shares during the last quarter. 53.18% of the stock is currently owned by institutional investors.
A number of equities analysts have weighed in on the company. BidaskClub raised Lancaster Colony from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Zacks Investment Research raised Lancaster Colony from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $153.00.
Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings results on Thursday, January 25th. The company reported $1.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.18). Lancaster Colony had a net margin of 9.84% and a return on equity of 19.65%. The business had revenue of $319.70 million during the quarter, compared to analyst estimates of $335.10 million. During the same period last year, the company earned $1.42 EPS. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. research analysts anticipate that Lancaster Colony Corp. will post 4.4 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 9th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, March 8th. Lancaster Colony’s dividend payout ratio (DPR) is presently 55.68%.
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Lancaster Colony Company Profile
Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar.
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