Leeward Investments LLC MA Has $10.22 Million Stake in Lancaster Colony Co. (NASDAQ:LANC)

Leeward Investments LLC MA trimmed its holdings in Lancaster Colony Co. (NASDAQ:LANC) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,210 shares of the company’s stock after selling 2,126 shares during the period. Leeward Investments LLC MA owned about 0.18% of Lancaster Colony worth $10,217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LANC. 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 fourth quarter valued at about $70,000. Principal Securities Inc. bought a new stake in shares of Lancaster Colony in the fourth quarter valued at about $129,000. UMB Bank n.a. lifted its holdings in shares of Lancaster Colony by 11.8% in 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 lifted its holdings in shares of Lancaster Colony by 92,700.0% in 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 and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LANC. StockNews.com upgraded Lancaster Colony from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Stephens reiterated an “equal weight” rating and set a $218.00 target price on shares of Lancaster Colony in a report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Lancaster Colony currently has a consensus rating of “Hold” and a consensus price target of $198.75.

Lancaster Colony Stock Down 0.1 %

Shares of Lancaster Colony stock traded down $0.13 on Friday, hitting $190.52. The stock had a trading volume of 83,358 shares, compared to its average volume of 105,238. Lancaster Colony Co. has a twelve month low of $158.88 and a twelve month high of $215.31. The business’s 50 day moving average is $188.89 and its two-hundred day moving average is $188.56. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 39.53 and a beta of 0.37.

Lancaster Colony (NASDAQ:LANC) last posted its earnings results on Thursday, May 2nd. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.42 by $0.02. The company had revenue of $471.40 million for the quarter, compared to the consensus estimate of $467.90 million. Lancaster Colony had a return on equity of 18.96% and a net margin of 7.10%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 earnings per share. As a group, equities analysts predict that Lancaster Colony Co. will post 6.45 earnings per share for the current fiscal year.

Lancaster Colony Dividend Announcement

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

About Lancaster Colony

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.