Teachers Advisors LLC Has $21.71 Million Stake in Lancaster Colony Corporation (LANC)
Teachers Advisors LLC lifted its position in Lancaster Colony Corporation (NASDAQ:LANC) by 14.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 177,083 shares of the company’s stock after acquiring an additional 22,065 shares during the period. Teachers Advisors LLC owned about 0.65% of Lancaster Colony Corporation worth $21,714,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in LANC. Harfst & Associates Inc. purchased a new position in shares of Lancaster Colony Corporation in the first quarter worth approximately $174,000. LS Investment Advisors LLC increased its position in shares of Lancaster Colony Corporation by 19.8% in the second quarter. LS Investment Advisors LLC now owns 1,557 shares of the company’s stock worth $191,000 after acquiring an additional 257 shares in the last quarter. Credit Agricole S A increased its position in shares of Lancaster Colony Corporation by 4.5% in the first quarter. Credit Agricole S A now owns 1,522 shares of the company’s stock worth $196,000 after acquiring an additional 66 shares in the last quarter. Cypress Wealth Advisors LLC increased its position in shares of Lancaster Colony Corporation by 3.4% in the first quarter. Cypress Wealth Advisors LLC now owns 1,622 shares of the company’s stock worth $209,000 after acquiring an additional 54 shares in the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of Lancaster Colony Corporation by 4.6% in the second quarter. Capstone Asset Management Co. now owns 1,832 shares of the company’s stock worth $225,000 after acquiring an additional 80 shares in the last quarter. 49.80% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lancaster Colony Corporation (NASDAQ:LANC) opened at 117.50 on Friday. Lancaster Colony Corporation has a 12-month low of $113.34 and a 12-month high of $149.30. The company’s 50 day moving average is $119.30 and its 200 day moving average is $124.27. The firm has a market capitalization of $3.23 billion, a PE ratio of 27.98 and a beta of 1.02.
Lancaster Colony Corporation (NASDAQ:LANC) last posted its earnings results on Thursday, August 17th. The company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). Lancaster Colony Corporation had a return on equity of 22.76% and a net margin of 9.59%. The business had revenue of $289.90 million for the quarter, compared to the consensus estimate of $295.05 million. During the same period in the previous year, the company posted $1.12 earnings per share. Lancaster Colony Corporation’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts forecast that Lancaster Colony Corporation will post $4.72 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a dividend of $0.55 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.20 dividend on an annualized basis and a yield of 1.87%. Lancaster Colony Corporation’s payout ratio is 52.26%.
Several research firms have recently weighed in on LANC. Wedbush reissued a “buy” rating on shares of Lancaster Colony Corporation in a research report on Friday, August 18th. BidaskClub raised 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 report on Wednesday, July 5th. Finally, Vertical Group upgraded shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating and raised their price target for the stock from $123.00 to $146.00 in a report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $152.00.
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Lancaster Colony Corporation 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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