Lancaster Colony Corporation (LANC) Shares Bought by TD Asset Management Inc.
TD Asset Management Inc. lifted its stake in Lancaster Colony Corporation (NASDAQ:LANC) by 49.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,941 shares of the company’s stock after acquiring an additional 5,600 shares during the period. TD Asset Management Inc. owned 0.06% of Lancaster Colony worth $2,035,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Lancaster Colony in the 3rd quarter worth $151,000. Advisory Services Network LLC grew its stake in Lancaster Colony by 31.8% during the 2nd quarter. Advisory Services Network LLC now owns 1,325 shares of the company’s stock worth $162,000 after buying an additional 320 shares during the last quarter. Capstone Asset Management Co. grew its stake in Lancaster Colony by 4.6% during the 2nd quarter. Capstone Asset Management Co. now owns 1,832 shares of the company’s stock worth $225,000 after buying an additional 80 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in Lancaster Colony during the 3rd quarter worth $243,000. Finally, Riverhead Capital Management LLC grew its stake in Lancaster Colony by 66.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,165 shares of the company’s stock worth $265,000 after buying an additional 865 shares during the last quarter. 51.28% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on LANC. Wedbush restated a “buy” rating on shares of Lancaster Colony in a research note on Friday, August 18th. BidaskClub upgraded Lancaster Colony from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. Finally, Zacks Investment Research cut Lancaster Colony from a “hold” rating to a “sell” rating in a report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $154.67.
Lancaster Colony Corporation (NASDAQ LANC) opened at $130.21 on Friday. The firm has a market capitalization of $3,570.00, a PE ratio of 29.32 and a beta of 1.06. Lancaster Colony Corporation has a fifty-two week low of $113.33 and a fifty-two week high of $149.30.
Lancaster Colony (NASDAQ:LANC) last announced its earnings results on Thursday, October 26th. The company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). Lancaster Colony had a net margin of 9.20% and a return on equity of 21.50%. The firm had revenue of $298.92 million for the quarter, compared to analyst estimates of $298.75 million. During the same period in the previous year, the company earned $1.22 EPS. Lancaster Colony’s revenue was up 2.6% compared to the same quarter last year. research analysts predict that Lancaster Colony Corporation will post 4.62 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, December 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.84%. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.55. Lancaster Colony’s dividend payout ratio is presently 59.26%.
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Lancaster Colony Profile
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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