Lancaster Colony Corporation (LANC) Shares Bought by Ajo LP
Ajo LP lifted its stake in shares of Lancaster Colony Corporation (NASDAQ:LANC) by 106.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 41,129 shares of the company’s stock after acquiring an additional 21,164 shares during the period. Ajo LP owned approximately 0.15% of Lancaster Colony Corporation worth $5,043,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harfst & Associates Inc. purchased a new position in Lancaster Colony Corporation in the 1st quarter worth $174,000. LS Investment Advisors LLC raised its position in Lancaster Colony Corporation by 19.8% in the 2nd quarter. LS Investment Advisors LLC now owns 1,557 shares of the company’s stock worth $191,000 after purchasing an additional 257 shares during the period. Credit Agricole S A raised its position in Lancaster Colony Corporation by 4.5% in the 1st quarter. Credit Agricole S A now owns 1,522 shares of the company’s stock worth $196,000 after purchasing an additional 66 shares during the period. Cypress Wealth Advisors LLC raised its position in Lancaster Colony Corporation by 3.4% in the 1st quarter. Cypress Wealth Advisors LLC now owns 1,622 shares of the company’s stock worth $209,000 after purchasing an additional 54 shares during the period. Finally, Capstone Asset Management Co. raised its position in Lancaster Colony Corporation by 4.6% in the 2nd quarter. Capstone Asset Management Co. now owns 1,832 shares of the company’s stock worth $225,000 after purchasing an additional 80 shares during the period. 49.80% of the stock is owned by institutional investors.
Lancaster Colony Corporation (NASDAQ LANC) opened at 117.89 on Friday. Lancaster Colony Corporation has a 52-week low of $113.34 and a 52-week high of $149.30. The stock has a market cap of $3.24 billion, a PE ratio of 28.07 and a beta of 1.02. The firm has a 50 day moving average of $119.53 and a 200-day moving average of $124.60.
Lancaster Colony Corporation (NASDAQ:LANC) last posted its quarterly earnings data on Thursday, August 17th. The company reported $1.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.08). The firm had revenue of $289.90 million during the quarter, compared to analyst estimates of $295.05 million. Lancaster Colony Corporation had a net margin of 9.59% and a return on equity of 22.76%. Lancaster Colony Corporation’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 earnings per share. Equities analysts anticipate that Lancaster Colony Corporation will post $4.74 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, September 7th. Lancaster Colony Corporation’s dividend payout ratio is presently 52.26%.
A number of brokerages recently commented on LANC. Vertical Group upgraded shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating and lifted their target price for the stock from $123.00 to $146.00 in a research report on Tuesday, May 30th. BidaskClub upgraded shares of Lancaster Colony Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. Zacks Investment Research upgraded shares of Lancaster Colony Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Vertical Research upgraded shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating in a research report on Friday, May 26th. Finally, Wedbush reiterated a “buy” rating on shares of Lancaster Colony Corporation in a research report on Friday, August 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $152.00.
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About Lancaster Colony Corporation
Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar.
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