Cambridge Investment Research Advisors Inc. Invests $2.74 Million in Lancaster Colony Co. (NASDAQ:LANC)

Cambridge Investment Research Advisors Inc. acquired a new position in shares of Lancaster Colony Co. (NASDAQ:LANC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 14,473 shares of the company’s stock, valued at approximately $2,735,000. Cambridge Investment Research Advisors Inc. owned approximately 0.05% of Lancaster Colony as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. boosted its position in shares of Lancaster Colony by 6.5% in the 1st quarter. UMB Bank n.a. now owns 952 shares of the company’s stock worth $198,000 after purchasing an additional 58 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in Lancaster Colony by 0.3% in the first quarter. Retirement Systems of Alabama now owns 25,570 shares of the company’s stock worth $5,309,000 after acquiring an additional 67 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Lancaster Colony by 115.9% in the second quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock worth $33,000 after acquiring an additional 95 shares in the last quarter. State of Michigan Retirement System grew its stake in shares of Lancaster Colony by 2.0% during the first quarter. State of Michigan Retirement System now owns 5,032 shares of the company’s stock worth $1,045,000 after acquiring an additional 100 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Lancaster Colony by 7.1% during the first quarter. Daiwa Securities Group Inc. now owns 1,595 shares of the company’s stock valued at $331,000 after acquiring an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. StockNews.com downgraded shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Stephens cut their target price on Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Friday, August 23rd. Finally, Loop Capital lowered their price target on Lancaster Colony from $236.00 to $232.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $195.75.

Insider Transactions at Lancaster Colony

In related news, Director Elliot K. Fullen purchased 3,000 shares of Lancaster Colony stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the completion of the transaction, the director now owns 5,298 shares in the company, valued at $895,362. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 29.60% of the company’s stock.

Lancaster Colony Price Performance

Shares of Lancaster Colony stock opened at $170.76 on Friday. Lancaster Colony Co. has a 1 year low of $158.88 and a 1 year high of $215.31. The stock has a market cap of $4.70 billion, a PE ratio of 35.43 and a beta of 0.37. The firm has a fifty day moving average price of $186.99 and a 200 day moving average price of $191.97.

Lancaster Colony Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a $0.90 dividend. The ex-dividend date is Monday, September 9th. This represents a $3.60 annualized dividend and a dividend yield of 2.11%. Lancaster Colony’s dividend payout ratio (DPR) is presently 74.69%.

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.