Capstone Investment Advisors LLC Invests $305,000 in Lancaster Colony Co. (NASDAQ:LANC)

Capstone Investment Advisors LLC purchased a new stake in Lancaster Colony Co. (NASDAQ:LANC) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 1,730 shares of the company’s stock, valued at approximately $305,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Blair William & Co. IL raised its stake in shares of Lancaster Colony by 2,386.6% in the 2nd quarter. Blair William & Co. IL now owns 172,075 shares of the company’s stock valued at $32,517,000 after acquiring an additional 165,155 shares during the period. Wesbanco Bank Inc. raised its position in Lancaster Colony by 4,189.1% in the third quarter. Wesbanco Bank Inc. now owns 163,800 shares of the company’s stock valued at $28,922,000 after purchasing an additional 159,981 shares during the period. F M Investments LLC purchased a new position in Lancaster Colony in the second quarter valued at about $7,997,000. Millennium Management LLC lifted its stake in shares of Lancaster Colony by 1,055.2% during the second quarter. Millennium Management LLC now owns 36,090 shares of the company’s stock worth $6,820,000 after purchasing an additional 32,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Lancaster Colony by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 520,335 shares of the company’s stock worth $98,326,000 after buying an additional 25,072 shares during the period. 66.44% of the stock is owned by institutional investors and hedge funds.

Lancaster Colony Stock Down 0.1 %

LANC stock opened at $185.84 on Friday. The stock’s 50 day moving average is $182.06 and its two-hundred day moving average is $184.33. Lancaster Colony Co. has a 52-week low of $161.54 and a 52-week high of $215.31. The company has a market capitalization of $5.12 billion, a PE ratio of 32.15 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.08). Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The company had revenue of $466.56 million during the quarter, compared to the consensus estimate of $468.36 million. During the same quarter last year, the firm posted $1.70 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Lancaster Colony Co. will post 6.72 EPS for the current year.

Lancaster Colony Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Thursday, December 5th. This is a positive change from Lancaster Colony’s previous quarterly dividend of $0.90. Lancaster Colony’s dividend payout ratio is 65.74%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LANC shares. Stephens reiterated an “equal weight” rating and set a $196.00 target price on shares of Lancaster Colony in a report on Tuesday, November 19th. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research note on Tuesday, November 19th. Loop Capital decreased their target price on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, StockNews.com downgraded shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $202.67.

About Lancaster Colony

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company 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, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.