Louisiana State Employees Retirement System Has $936,000 Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Louisiana State Employees Retirement System reduced its stake in Lancaster Colony Co. (NASDAQ:LANC) by 8.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,300 shares of the company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Lancaster Colony were worth $936,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Blair William & Co. IL raised its stake in Lancaster Colony by 2,386.6% during the second quarter. Blair William & Co. IL now owns 172,075 shares of the company’s stock worth $32,517,000 after acquiring an additional 165,155 shares in the last quarter. Wesbanco Bank Inc. increased its position in shares of Lancaster Colony by 4,189.1% during the 3rd quarter. Wesbanco Bank Inc. now owns 163,800 shares of the company’s stock worth $28,922,000 after purchasing an additional 159,981 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Lancaster Colony by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,186,162 shares of the company’s stock valued at $453,913,000 after purchasing an additional 85,658 shares during the last quarter. F M Investments LLC acquired a new position in Lancaster Colony in the second quarter valued at about $7,997,000. Finally, Millennium Management LLC grew its stake in Lancaster Colony by 1,055.2% during the second quarter. Millennium Management LLC now owns 36,090 shares of the company’s stock worth $6,820,000 after buying an additional 32,966 shares during the last quarter. 66.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Loop Capital cut their target price on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research note on Friday. Stephens decreased their target price on Lancaster Colony from $200.00 to $196.00 and set an “equal weight” rating on the stock in a report on Friday. StockNews.com lowered Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research report on Friday. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $193.50.

Lancaster Colony Stock Performance

NASDAQ LANC opened at $180.47 on Monday. The stock has a market capitalization of $4.98 billion, a P/E ratio of 31.22 and a beta of 0.35. Lancaster Colony Co. has a 52 week low of $161.54 and a 52 week high of $215.31. The stock has a fifty day moving average of $177.14 and a 200-day moving average of $184.66.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.08). Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The firm had revenue of $466.56 million during the quarter, compared to analyst estimates of $468.36 million. During the same quarter in the previous year, the business earned $1.70 earnings per share. Lancaster Colony’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities research analysts forecast that Lancaster Colony Co. will post 6.99 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, September 30th. Investors of record on Monday, September 9th were issued a $0.90 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $3.60 annualized dividend and a yield of 1.99%. Lancaster Colony’s dividend payout ratio is currently 62.28%.

Insider Buying and Selling at Lancaster Colony

In other Lancaster Colony news, Director Elliot K. Fullen bought 3,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was bought at an average price of $169.00 per share, for a total transaction of $507,000.00. Following the transaction, the director now owns 5,298 shares of the company’s stock, valued at approximately $895,362. The trade was a 100.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 29.50% of the company’s stock.

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.