Teachers Retirement System of The State of Kentucky lifted its stake in Lancaster Colony Co. (NASDAQ:LANC – Get Rating) by 11.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,912 shares of the company's stock after purchasing an additional 1,346 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Lancaster Colony were worth $1,926,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. ICW Investment Advisors LLC lifted its stake in shares of Lancaster Colony by 3.1% in the first quarter. ICW Investment Advisors LLC now owns 3,067 shares of the company's stock valued at $457,000 after purchasing an additional 93 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of Lancaster Colony by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 5,200 shares of the company's stock valued at $824,000 after purchasing an additional 100 shares during the period. Huntington National Bank lifted its stake in shares of Lancaster Colony by 12.1% in the first quarter. Huntington National Bank now owns 939 shares of the company's stock valued at $140,000 after purchasing an additional 101 shares during the period. Hsbc Holdings PLC raised its position in Lancaster Colony by 2.3% during the first quarter. Hsbc Holdings PLC now owns 6,300 shares of the company's stock worth $930,000 after acquiring an additional 144 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Lancaster Colony by 6.0% during the first quarter. PNC Financial Services Group Inc. now owns 2,852 shares of the company's stock worth $425,000 after acquiring an additional 162 shares during the last quarter. Institutional investors and hedge funds own 61.28% of the company's stock.
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Shares of NASDAQ LANC opened at $166.24 on Wednesday. The company has a market cap of $4.57 billion, a PE ratio of 51.15 and a beta of 0.04. Lancaster Colony Co. has a 12 month low of $116.85 and a 12 month high of $177.07. The company has a 50-day simple moving average of $149.90 and a 200-day simple moving average of $143.43.
Lancaster Colony (NASDAQ:LANC – Get Rating) last issued 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. Lancaster Colony had a net margin of 5.34% and a return on equity of 13.64%. The business had revenue of $452.40 million during the quarter, compared to the consensus estimate of $415.53 million. During the same period in the previous year, the firm posted $1.15 earnings per share. The company's quarterly revenue was up 17.3% compared to the same quarter last year. On average, analysts anticipate that Lancaster Colony Co. will post 5.85 EPS for the current year.Lancaster Colony Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be issued 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 yield of 1.92%. Lancaster Colony's payout ratio is 98.46%.
Insider Activity at Lancaster Colony
In related news, insider David S. Nagle sold 1,369 shares of the business's 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 sale, the insider now directly owns 7,614 shares in the company, valued at $1,286,918.28. The transaction 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 720 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 5,842 shares in the company, valued at $1,007,803.42. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David S. Nagle sold 1,369 shares of the business's stock in a transaction that occurred 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 sale, the insider now owns 7,614 shares of the company's stock, valued at $1,286,918.28. The disclosure for this sale can be found here. 29.90% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on LANC shares. TheStreet upgraded shares of Lancaster Colony from a "c" rating to a "b" rating in a research report on Monday, August 29th. StockNews.com upgraded shares of Lancaster Colony from a "sell" rating to a "hold" rating in a research report on Friday, August 26th. Finally, CL King started coverage on shares of Lancaster Colony in a report on Tuesday, June 14th. They set a "neutral" rating for the company. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Lancaster Colony has an average rating of "Hold" and a consensus 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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