Ancora Advisors LLC purchased a new stake in Lancaster Colony Corp. (NASDAQ:LANC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 933 shares of the company’s stock, valued at approximately $139,000.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Lancaster Colony by 1.3% in the 3rd quarter. BlackRock Inc. now owns 2,183,880 shares of the company’s stock worth $325,857,000 after purchasing an additional 27,045 shares during the period. Renaissance Technologies LLC boosted its stake in Lancaster Colony by 0.8% in the 2nd quarter. Renaissance Technologies LLC now owns 738,400 shares of the company’s stock worth $102,209,000 after purchasing an additional 5,900 shares during the period. Dimensional Fund Advisors LP boosted its stake in Lancaster Colony by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 511,862 shares of the company’s stock worth $76,373,000 after purchasing an additional 1,964 shares during the period. Northern Trust Corp boosted its stake in Lancaster Colony by 0.7% in the 2nd quarter. Northern Trust Corp now owns 320,879 shares of the company’s stock worth $44,416,000 after purchasing an additional 2,384 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Lancaster Colony by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 273,821 shares of the company’s stock worth $40,857,000 after purchasing an additional 2,965 shares during the period. 53.55% of the stock is owned by institutional investors.

Shares of NASDAQ LANC opened at $176.03 on Friday. The firm has a market capitalization of $4.91 billion, a P/E ratio of 37.67 and a beta of 0.54. Lancaster Colony Corp. has a 1-year low of $115.81 and a 1-year high of $189.34.

Lancaster Colony (NASDAQ:LANC) last announced its earnings results on Thursday, October 25th. The company reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.15. Lancaster Colony had a net margin of 11.68% and a return on equity of 20.23%. The firm had revenue of $316.65 million during the quarter.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 7th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, December 6th. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 1.48%.

In other Lancaster Colony news, SVP Timothy A. Tate sold 747 shares of the business’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $176.01, for a total transaction of $131,479.47. Following the sale, the senior vice president now directly owns 1,563 shares of the company’s stock, valued at approximately $275,103.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 31.80% of the company’s stock.

LANC has been the subject of a number of research analyst reports. CL King lowered shares of Lancaster Colony from a “buy” rating to a “neutral” rating in a research note on Friday, August 10th. They noted that the move was a valuation call. BidaskClub lowered shares of Lancaster Colony from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Finally, ValuEngine raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Friday, October 19th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $150.00.

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Lancaster Colony Profile

Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates through two segments, Retail and Foodservice. It offers frozen garlic breads under the New York BRAND Bakery brand; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand name; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardini's, and Girard's brands; and vegetable dips and fruit dips under the Marzetti brand.

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Institutional Ownership by Quarter for Lancaster Colony (NASDAQ:LANC)

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