Equitable Trust Co. purchased a new stake in shares of Lancaster Colony Co. (NASDAQ:LANC – Get Rating) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,696 shares of the company's stock, valued at approximately $218,000.

Several other large investors also recently modified their holdings of the stock. New Century Advisors LLC raised its holdings in Lancaster Colony by 37.6% in the 2nd quarter. New Century Advisors LLC now owns 362 shares of the company's stock valued at $47,000 after acquiring an additional 99 shares during the period. Carnegie Capital Asset Management LLC grew its holdings in Lancaster Colony by 13.3% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 3,392 shares of the company's stock valued at $656,000 after buying an additional 398 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Lancaster Colony by 11.6% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 12,912 shares of the company's stock worth $1,926,000 after buying an additional 1,346 shares during the period. Walleye Capital LLC acquired a new stake in shares of Lancaster Colony during the first quarter worth $318,000. Finally, Range Financial Group LLC bought a new stake in shares of Lancaster Colony in the first quarter valued at about $1,056,000. 61.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LANC has been the subject of a number of recent research reports. StockNews.com raised shares of Lancaster Colony from a "sell" rating to a "hold" rating in a report on Friday, August 26th. CL King assumed coverage on Lancaster Colony in a research note on Tuesday, June 14th. They set a "neutral" rating on the stock. Finally, TheStreet upgraded Lancaster Colony from a "c" rating to a "b" rating in a research report on Monday, August 29th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $153.67.

Lancaster Colony Trading Up 0.7 %

Lancaster Colony (NASDAQ:LANC – Get Rating) last posted its quarterly earnings results on Thursday, August 25th. The company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.86. The company had revenue of $452.40 million during the quarter, compared to analysts' expectations of $415.53 million. Lancaster Colony had a return on equity of 13.64% and a net margin of 5.34%. Lancaster Colony's revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.15 EPS. On average, equities research analysts forecast that Lancaster Colony Co. will post 5.85 earnings per share for the current year.

Lancaster Colony Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.05%. Lancaster Colony's payout ratio is currently 98.46%.

Insider Activity at Lancaster Colony

In related news, insider David S. Nagle sold 1,369 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $169.02, for a total value of $231,388.38. Following the completion of the transaction, the insider now owns 7,614 shares of the company's stock, valued at approximately $1,286,918.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Lancaster Colony news, insider David S. Nagle sold 1,369 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $169.02, for a total value of $231,388.38. Following the completion of the transaction, the insider now directly owns 7,614 shares in the company, valued at $1,286,918.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David S. Nagle sold 720 shares of the business's stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $172.51, for a total value of $124,207.20. Following the sale, the insider now owns 5,842 shares in the company, valued at $1,007,803.42. The disclosure for this sale can be found here. 29.90% of the stock is currently owned by insiders.

Lancaster Colony Company Profile

(Get Rating)

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.

Read More

• Get a free copy of the StockNews.com research report on Lancaster Colony (LANC)
• A Trio of Q3 Winners With Room to Run
• This Little Known Small Cap Is Up 139%: Is The Stock A Buy?
• Can HCA Healthcare Weather the Normalization?
• Can United Natural Foods Fight Both Inflation and the Fed?
• Mullen Automotive Is Ready To Get In Gear

Receive News & Ratings for Lancaster Colony Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lancaster Colony and related companies with MarketBeat.com's FREE daily email newsletter.