First National Advisers LLC Acquires New Stake in Lancaster Colony Corporation (NASDAQ:LANC)

First National Advisers LLC acquired a new stake in Lancaster Colony Corporation (NASDAQ:LANC) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,023 shares of the company’s stock, valued at approximately $354,000.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in Lancaster Colony by 1.3% in the first quarter. Principal Financial Group Inc. now owns 52,433 shares of the company’s stock valued at $9,176,000 after purchasing an additional 659 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Lancaster Colony by 146.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 32,441 shares of the company’s stock valued at $5,677,000 after purchasing an additional 19,264 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Lancaster Colony by 13.4% in the fourth quarter. Ameriprise Financial Inc. now owns 21,905 shares of the company’s stock valued at $3,793,000 after purchasing an additional 2,581 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Lancaster Colony in the fourth quarter valued at approximately $206,000. Finally, Blue Trust Inc. lifted its stake in Lancaster Colony by 20.9% in the first quarter. Blue Trust Inc. now owns 602 shares of the company’s stock valued at $105,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Lancaster Colony Price Performance

Lancaster Colony stock opened at $172.77 on Monday. Lancaster Colony Corporation has a one year low of $156.14 and a one year high of $202.63. The business has a fifty day moving average price of $169.89 and a 200-day moving average price of $176.12. The firm has a market capitalization of $4.76 billion, a P/E ratio of 28.09 and a beta of 0.47.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.07). Lancaster Colony had a return on equity of 19.30% and a net margin of 8.99%. The company had revenue of $457.84 million during the quarter, compared to the consensus estimate of $483.47 million. During the same period in the previous year, the business earned $1.44 earnings per share. Lancaster Colony’s revenue was down 2.9% on a year-over-year basis. Sell-side analysts expect that Lancaster Colony Corporation will post 6.8 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were given a $0.95 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.20%. Lancaster Colony’s dividend payout ratio (DPR) is presently 61.79%.

Analyst Ratings Changes

LANC has been the topic of several research analyst reports. Benchmark upgraded Lancaster Colony from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research note on Thursday, May 1st. Wall Street Zen lowered Lancaster Colony from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Finally, Stephens cut their price target on Lancaster Colony from $200.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lancaster Colony currently has an average rating of “Hold” and an average target price of $203.50.

Lancaster Colony Company Profile

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.