Lancaster Colony Corp. (LANC) Position Maintained by Northwestern Mutual Investment Management Company LLC
Northwestern Mutual Investment Management Company LLC continued to hold its stake in shares of Lancaster Colony Corp. (NASDAQ:LANC) during the second quarter, Holdings Channel reports. The firm owned 3,353 shares of the company’s stock at the end of the second quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Lancaster Colony Corp. were worth $428,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of LANC. Fuller & Thaler Asset Management Inc. bought a new position in Lancaster Colony Corp. during the second quarter worth $115,000. Tower Research Capital LLC TRC bought a new position in Lancaster Colony Corp. during the second quarter worth $122,000. LS Investment Advisors LLC boosted its position in 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 in the last quarter. Envestnet Asset Management Inc. boosted its position in 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 in the last quarter. Finally, Invictus RG bought a new position in Lancaster Colony Corp. during the first quarter worth $180,000. Institutional investors and hedge funds own 51.93% of the company’s stock.
Lancaster Colony Corp. (NASDAQ:LANC) opened at 130.22 on Wednesday. The firm has a 50 day moving average price of $131.68 and a 200-day moving average price of $121.90. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 29.33 and a beta of 0.73. Lancaster Colony Corp. has a 12 month low of $95.47 and a 12 month high of $137.71.
Lancaster Colony Corp. (NASDAQ:LANC) last announced its quarterly earnings data on Thursday, August 18th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.09. The firm earned $284.50 million during the quarter, compared to the consensus estimate of $291.72 million. Lancaster Colony Corp. had a return on equity of 23.29% and a net margin of 10.22%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.93 EPS. On average, equities analysts forecast that Lancaster Colony Corp. will post $4.62 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Wednesday, September 7th. Lancaster Colony Corp.’s dividend payout ratio is currently 45.05%.
A number of equities analysts have weighed in on the company. Zacks Investment Research upgraded Lancaster Colony Corp. from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Tuesday, August 23rd. Wedbush restated a “neutral” rating and issued a $106.00 price target (down previously from $121.00) on shares of Lancaster Colony Corp. in a report on Friday, August 19th. Finally, DA Davidson upped their target price on Lancaster Colony Corp. from $120.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, August 8th.
Lancaster Colony Corp. Company Profile
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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