Systematic Financial Management LP Sells 1,570 Shares of Lancaster Colony Corp. (LANC)
Systematic Financial Management LP cut its stake in shares of Lancaster Colony Corp. (NASDAQ:LANC) by 9.7% during the second quarter, Holdings Channel reports. The institutional investor owned 14,640 shares of the company’s stock after selling 1,570 shares during the period. Systematic Financial Management LP owned 0.05% of Lancaster Colony Corp. worth $1,868,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of LANC. Norges Bank bought a new position in shares of Lancaster Colony Corp. during the fourth quarter worth about $23,490,000. Fisher Asset Management LLC bought a new position in shares of Lancaster Colony Corp. during the first quarter worth about $37,983,000. Virginia Retirement System bought a new position in shares of Lancaster Colony Corp. during the first quarter worth about $265,000. Algert Global LLC bought a new position in shares of Lancaster Colony Corp. during the first quarter worth about $657,000. Finally, BlackRock Inc. boosted its position in shares of Lancaster Colony Corp. by 60.4% in the first quarter. BlackRock Inc. now owns 26,114 shares of the company’s stock worth $2,887,000 after buying an additional 9,834 shares during the period. Institutional investors and hedge funds own 52.46% of the company’s stock.
Lancaster Colony Corp. (NASDAQ:LANC) traded down 0.54% during trading on Tuesday, hitting $130.78. The stock had a trading volume of 12,132 shares. Lancaster Colony Corp. has a one year low of $95.47 and a one year high of $137.71. The firm has a market capitalization of $3.59 billion, a P/E ratio of 29.45 and a beta of 0.73. The stock has a 50 day moving average of $131.66 and a 200 day moving average of $121.71.
Lancaster Colony Corp. (NASDAQ:LANC) last posted its quarterly earnings results on Thursday, August 18th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.09. Lancaster Colony Corp. had a return on equity of 23.29% and a net margin of 10.22%. The company earned $284.50 million during the quarter, compared to analysts’ expectations of $291.72 million. During the same quarter in the previous year, the firm earned $0.93 EPS. Lancaster Colony Corp.’s revenue was up 2.4% on a year-over-year basis. Equities research analysts expect that Lancaster Colony Corp. will post $4.62 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.52%. Lancaster Colony Corp.’s dividend payout ratio (DPR) is currently 45.05%.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Lancaster Colony Corp. from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Tuesday, August 23rd. Wedbush restated a “neutral” rating and set a $106.00 target price (down previously from $121.00) on shares of Lancaster Colony Corp. in a report on Friday, August 19th. Finally, DA Davidson raised their target price on Lancaster Colony Corp. from $120.00 to $128.00 and gave the stock a “neutral” rating in a 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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