Ajo LP Buys 11,994 Shares of Lancaster Colony Corp. (LANC)
Ajo LP increased its position in Lancaster Colony Corp. (NASDAQ:LANC) by 266.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,495 shares of the company’s stock after buying an additional 11,994 shares during the period. Ajo LP owned approximately 0.06% of Lancaster Colony Corp. worth $2,105,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of LANC. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Lancaster Colony Corp. during the second quarter worth approximately $115,000. LS Investment Advisors LLC increased its position in shares of Lancaster Colony Corp. by 75.1% in the second quarter. LS Investment Advisors LLC now owns 1,177 shares of the company’s stock worth $150,000 after buying an additional 505 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Lancaster Colony Corp. by 13.4% in the first quarter. Envestnet Asset Management Inc. now owns 1,575 shares of the company’s stock worth $174,000 after buying an additional 186 shares during the last quarter. Invictus RG purchased a new position in shares of Lancaster Colony Corp. during the first quarter worth approximately $180,000. Finally, Oakbrook Investments LLC purchased a new position in shares of Lancaster Colony Corp. during the second quarter worth approximately $204,000. 52.46% of the stock is currently owned by institutional investors and hedge funds.
Lancaster Colony Corp. (NASDAQ:LANC) traded up 0.39% during trading on Monday, reaching $131.04. 16,529 shares of the company’s stock traded hands. The stock has a market capitalization of $3.59 billion, a P/E ratio of 29.51 and a beta of 0.73. Lancaster Colony Corp. has a 1-year low of $95.47 and a 1-year high of $137.71. The stock has a 50-day moving average price of $131.46 and a 200 day moving average price of $120.86.
Lancaster Colony Corp. (NASDAQ:LANC) last announced its quarterly earnings results on Thursday, August 18th. The company reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.09. The company had revenue of $284.50 million for the quarter, compared to analyst estimates of $291.72 million. Lancaster Colony Corp. had a net margin of 10.22% and a return on equity of 23.29%. Lancaster Colony Corp.’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business earned $0.93 EPS. Equities research analysts expect that Lancaster Colony Corp. will post $4.62 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.53%. Lancaster Colony Corp.’s dividend payout ratio (DPR) is presently 45.05%.
A number of equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of Lancaster Colony Corp. from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Tuesday, August 23rd. DA Davidson boosted their target price on shares of Lancaster Colony Corp. from $120.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Finally, Wedbush reiterated a “neutral” rating and set a $106.00 target price (down previously from $121.00) on shares of Lancaster Colony Corp. in a research note on Friday, August 19th.
About Lancaster Colony Corp.
Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice markets. The Company is focused on its specialty foods segment. It manufactures and sells a range of food products, including salad dressings and sauces; fruit glazes, vegetable dips and fruit dips; Greek yogurt vegetable dips and hummus; frozen garlic breads; frozen Parkerhouse style yeast dinner rolls and sweet rolls, as well as biscuits; dry egg noodles; croutons and related products; snack sticks and flatbread wraps and pizza crusts.
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