Teachers Retirement System of The State of Kentucky lifted its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 346.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,933 shares of the company’s stock after purchasing an additional 7,708 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Lancaster Colony were worth $1,677,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in Lancaster Colony by 50.6% in the third quarter. Victory Capital Management Inc. now owns 545,236 shares of the company’s stock worth $92,041,000 after buying an additional 183,223 shares during the period. State Street Corp lifted its holdings in Lancaster Colony by 11.1% in the second quarter. State Street Corp now owns 1,450,404 shares of the company’s stock worth $280,668,000 after buying an additional 144,832 shares during the period. Moors & Cabot Inc. purchased a new stake in Lancaster Colony in the third quarter worth about $91,000. Boston Trust Walden Corp lifted its holdings in Lancaster Colony by 30.7% in the third quarter. Boston Trust Walden Corp now owns 185,757 shares of the company’s stock worth $31,357,000 after buying an additional 43,661 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Lancaster Colony by 67.8% in the second quarter. Goldman Sachs Group Inc. now owns 88,290 shares of the company’s stock worth $17,085,000 after buying an additional 35,677 shares during the period. Institutional investors own 57.13% of the company’s stock.
Shares of NASDAQ LANC opened at $165.85 on Friday. Lancaster Colony Co. has a fifty-two week low of $145.79 and a fifty-two week high of $201.31. The company has a 50 day simple moving average of $160.80 and a two-hundred day simple moving average of $175.01. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 33.64 and a beta of 0.23.
The business also recently announced a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Monday, December 6th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Friday, December 3rd. This is an increase from Lancaster Colony’s previous quarterly dividend of $0.75. Lancaster Colony’s payout ratio is 64.91%.
Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Lancaster Colony from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 19th. Benchmark initiated coverage on shares of Lancaster Colony in a report on Wednesday, December 8th. They issued a “buy” rating and a $181.00 price objective for the company.
In other Lancaster Colony news, Director Alan F. Harris purchased 3,195 shares of the company’s stock in a transaction dated Tuesday, December 14th. The shares were acquired at an average price of $156.37 per share, for a total transaction of $499,602.15. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 29.90% of the company’s stock.
Lancaster Colony Profile
Lancaster Colony Corp. engages in the manufacture and sale of specialty food products. It operates through the following segments: Retail and Foodservice. The Retail and Foodservices segments focuses in the manufacture and selling of frozen breads, refrigerated dressings and dips and shelf-stable dressings and croutons under the brand name New York BRAND Bakery, Sister Schubert’s, Marzetti Frozen Pasta and Flatout.
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