Barclays PLC raised its holdings in Lancaster Colony Corp. (NASDAQ:LANC) by 27.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,076 shares of the company’s stock after acquiring an additional 4,053 shares during the quarter. Barclays PLC owned about 0.07% of Lancaster Colony worth $2,645,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. California State Teachers Retirement System grew its holdings in Lancaster Colony by 1.6% during the third quarter. California State Teachers Retirement System now owns 29,565 shares of the company’s stock valued at $4,099,000 after purchasing an additional 456 shares during the period. Stifel Financial Corp raised its holdings in Lancaster Colony by 15.8% in the third quarter. Stifel Financial Corp now owns 2,423 shares of the company’s stock worth $332,000 after purchasing an additional 331 shares during the period. Virtu Financial LLC bought a new position in shares of Lancaster Colony during the third quarter worth $202,000. State Street Corp boosted its position in shares of Lancaster Colony by 4.3% during the third quarter. State Street Corp now owns 1,611,065 shares of the company’s stock worth $223,374,000 after purchasing an additional 66,985 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its position in shares of Lancaster Colony by 1.3% in the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 5,644 shares of the company’s stock valued at $783,000 after buying an additional 74 shares in the last quarter. 56.45% of the stock is owned by hedge funds and other institutional investors.
Lancaster Colony stock opened at $158.16 on Wednesday. The company has a 50 day moving average of $149.57 and a 200-day moving average of $147.98. The company has a quick ratio of 2.01, a current ratio of 2.70 and a debt-to-equity ratio of 0.03. Lancaster Colony Corp. has a twelve month low of $133.77 and a twelve month high of $194.38. The stock has a market capitalization of $4.34 billion, a PE ratio of 30.10 and a beta of 0.31.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Thursday, December 5th. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.65.
In other Lancaster Colony news, Director Neeli Bendapudi sold 1,600 shares of Lancaster Colony stock in a transaction dated Saturday, September 7th. The stock was sold at an average price of $157.37, for a total value of $251,792.00. Following the sale, the director now owns 7,800 shares of the company’s stock, valued at approximately $1,227,486. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 31.70% of the stock is currently owned by corporate insiders.
LANC has been the topic of several recent analyst reports. Sidoti set a $154.00 target price on Lancaster Colony and gave the stock a “hold” rating in a report on Wednesday, September 18th. BidaskClub downgraded Lancaster Colony from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. ValuEngine lowered Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, DA Davidson started coverage on Lancaster Colony in a report on Thursday, November 21st. They set a “neutral” rating and a $160.00 price objective on the stock.
About Lancaster Colony
Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates through two segments, Retail and Foodservice. It offers frozen garlic breads under the New York BRAND Bakery brand; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand name; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardini's, and Girard's brands; and vegetable dips and fruit dips under the Marzetti brand.
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