Schwab Charles Investment Management Inc. raised its holdings in Lancaster Colony Corporation (NASDAQ:LANC) by 10.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 153,770 shares of the company’s stock after acquiring an additional 14,842 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.56% of Lancaster Colony worth $18,471,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Wells Fargo & Company MN boosted its stake in Lancaster Colony by 11.7% in the third quarter. Wells Fargo & Company MN now owns 79,816 shares of the company’s stock valued at $9,588,000 after acquiring an additional 8,381 shares during the last quarter. Schroder Investment Management Group boosted its stake in Lancaster Colony by 118.9% in the third quarter. Schroder Investment Management Group now owns 16,137 shares of the company’s stock valued at $1,941,000 after acquiring an additional 8,766 shares during the last quarter. Legal & General Group Plc boosted its stake in Lancaster Colony by 9.0% in the third quarter. Legal & General Group Plc now owns 16,584 shares of the company’s stock valued at $1,993,000 after acquiring an additional 1,369 shares during the last quarter. TD Asset Management Inc. boosted its stake in Lancaster Colony by 49.4% in the third quarter. TD Asset Management Inc. now owns 16,941 shares of the company’s stock valued at $2,035,000 after acquiring an additional 5,600 shares during the last quarter. Finally, American International Group Inc. boosted its stake in Lancaster Colony by 2.7% in the third quarter. American International Group Inc. now owns 52,485 shares of the company’s stock valued at $6,304,000 after acquiring an additional 1,394 shares during the last quarter. 51.26% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Lancaster Colony Corporation (NASDAQ LANC) opened at $131.05 on Wednesday. The firm has a market cap of $3,630.00, a price-to-earnings ratio of 28.97 and a beta of 1.06. Lancaster Colony Corporation has a twelve month low of $113.33 and a twelve month high of $149.30.

Lancaster Colony (NASDAQ:LANC) last posted its earnings results on Thursday, October 26th. The company reported $1.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.04). The firm had revenue of $298.92 million during the quarter, compared to analyst estimates of $298.75 million. Lancaster Colony had a return on equity of 21.50% and a net margin of 9.20%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $1.22 earnings per share. equities research analysts expect that Lancaster Colony Corporation will post 4.62 EPS for the current fiscal 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 $0.60 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This is a positive change from Lancaster Colony’s previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a yield of 1.83%. Lancaster Colony’s dividend payout ratio (DPR) is 59.26%.

LANC has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Lancaster Colony from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. BidaskClub upgraded shares of Lancaster Colony from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $154.67.

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Lancaster Colony Company 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.

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

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