Allspring Global Investments Holdings LLC Purchases 1,664 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Allspring Global Investments Holdings LLC boosted its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 13.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,778 shares of the company’s stock after purchasing an additional 1,664 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Lancaster Colony were worth $2,861,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Brothers Harriman & Co. bought a new stake in shares of Lancaster Colony in the fourth quarter valued at about $67,000. Clarity Asset Management Inc. bought a new stake in shares of Lancaster Colony in the 4th quarter valued at about $70,000. Principal Securities Inc. purchased a new stake in shares of Lancaster Colony in the 4th quarter worth approximately $129,000. UMB Bank n.a. boosted its stake in shares of Lancaster Colony by 11.8% during the fourth quarter. UMB Bank n.a. now owns 894 shares of the company’s stock valued at $149,000 after purchasing an additional 94 shares in the last quarter. Finally, TFO Wealth Partners LLC boosted its stake in shares of Lancaster Colony by 92,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 928 shares of the company’s stock valued at $166,000 after purchasing an additional 927 shares in the last quarter. 66.44% of the stock is owned by institutional investors.

Lancaster Colony Stock Up 1.1 %

Shares of LANC opened at $190.65 on Wednesday. The company has a 50 day moving average of $188.80 and a two-hundred day moving average of $188.54. Lancaster Colony Co. has a twelve month low of $158.88 and a twelve month high of $215.31. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 39.55 and a beta of 0.37.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.02. Lancaster Colony had a return on equity of 18.96% and a net margin of 7.10%. The firm had revenue of $471.40 million during the quarter, compared to analysts’ expectations of $467.90 million. During the same quarter last year, the firm earned $0.89 EPS. The business’s quarterly revenue was up 1.4% on a year-over-year basis. On average, sell-side analysts expect that Lancaster Colony Co. will post 6.45 EPS for the current year.

Lancaster Colony Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a dividend of $0.90 per share. The ex-dividend date was Friday, June 7th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.89%. Lancaster Colony’s payout ratio is 74.69%.

Analyst Ratings Changes

A number of equities analysts recently commented on LANC shares. StockNews.com raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Stephens reissued an “equal weight” rating and issued a $218.00 price target on shares of Lancaster Colony in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $198.75.

Lancaster Colony 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.