Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC – Get Rating) by 39.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,049 shares of the company's stock after acquiring an additional 581 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Lancaster Colony were worth $264,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its holdings in Lancaster Colony by 2.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 5,200 shares of the company's stock worth $824,000 after acquiring an additional 100 shares during the last quarter. Park Avenue Securities LLC grew its holdings in Lancaster Colony by 35.9% during the 1st quarter. Park Avenue Securities LLC now owns 1,988 shares of the company's stock worth $297,000 after acquiring an additional 525 shares during the last quarter. AlphaCrest Capital Management LLC grew its holdings in Lancaster Colony by 605.5% during the 1st quarter. AlphaCrest Capital Management LLC now owns 8,805 shares of the company's stock worth $1,313,000 after acquiring an additional 7,557 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in Lancaster Colony during the 1st quarter worth approximately $34,000. Finally, Parametrica Management Ltd bought a new stake in Lancaster Colony during the 1st quarter worth approximately $223,000. 61.28% of the stock is owned by institutional investors.
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Lancaster Colony Stock Up 2.6 %
Lancaster Colony stock opened at $158.91 on Wednesday. Lancaster Colony Co. has a 12-month low of $116.85 and a 12-month high of $177.07. The firm's fifty day moving average is $155.48 and its 200 day moving average is $143.48. The company has a market capitalization of $4.37 billion, a PE ratio of 48.90 and a beta of 0.12.
Lancaster Colony (NASDAQ:LANC – Get Rating) last released its earnings results on Thursday, August 25th. The company reported $1.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.85. Lancaster Colony had a net
margin of 5.34% and a return on equity of 13.64%. The company had revenue of $452.40 million for the quarter, compared to the consensus estimate of $415.53 million. During the same quarter in the previous year, the company earned $1.15 EPS. Lancaster Colony's quarterly revenue was up 17.3% compared to the same quarter last year. Sell-side analysts expect that Lancaster Colony Co. will post 5.85 EPS for the current fiscal year.
Lancaster Colony Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 9th were given a dividend of $0.80 per share. The ex-dividend date was Thursday, September 8th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.01%. Lancaster Colony's payout ratio is presently 98.46%.
Insider Activity at Lancaster Colony
In other Lancaster Colony news, insider David S. Nagle sold 720 shares of the company's stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $172.51, for a total transaction of $124,207.20. Following the transaction, the insider now owns 5,842 shares in the company, valued at $1,007,803.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Lancaster Colony news, insider David S. Nagle sold 720 shares of the company's stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $172.51, for a total transaction of $124,207.20. Following the transaction, the insider now owns 5,842 shares in the company, valued at $1,007,803.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David S. Nagle sold 1,369 shares of the company's stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $169.02, for a total transaction of $231,388.38. Following the transaction, the insider now owns 7,614 shares in the company, valued at approximately $1,286,918.28. The disclosure for this sale can be found here. 29.90% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
LANC has been the topic of a number of research reports. CL King began coverage on shares of Lancaster Colony in a report on Tuesday, June 14th. They set a "neutral" rating on the stock. StockNews.com raised shares of Lancaster Colony from a "sell" rating to a "hold" rating in a research note on Friday, August 26th. Finally, TheStreet raised shares of Lancaster Colony from a "c" rating to a "b" rating in a research note on Monday, August 29th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $153.67.
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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