Crossmark Global Holdings Inc. Boosts Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Crossmark Global Holdings Inc. raised its stake in Lancaster Colony Co. (NASDAQ:LANC) by 29.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,676 shares of the company’s stock after acquiring an additional 381 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Lancaster Colony were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in Lancaster Colony in the second quarter valued at approximately $1,528,000. Leeward Investments LLC MA raised its stake in shares of Lancaster Colony by 5.6% in the second quarter. Leeward Investments LLC MA now owns 51,981 shares of the company’s stock valued at $9,823,000 after buying an additional 2,771 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in shares of Lancaster Colony during the 2nd quarter valued at $658,000. Van ECK Associates Corp grew its stake in shares of Lancaster Colony by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 12,897 shares of the company’s stock worth $2,271,000 after acquiring an additional 3,686 shares during the period. Finally, William B. Walkup & Associates Inc. purchased a new stake in Lancaster Colony in the 2nd quarter worth about $685,000. 66.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Lancaster Colony

In related news, Director Elliot K. Fullen purchased 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average price of $169.00 per share, with a total value of $507,000.00. Following the acquisition, the director now directly owns 5,298 shares of the company’s stock, valued at approximately $895,362. This represents a 130.55 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 29.50% of the company’s stock.

Wall Street Analysts Forecast Growth

LANC has been the subject of a number of research reports. StockNews.com lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Loop Capital cut their price objective on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a report on Friday, November 1st. Benchmark reissued a “hold” rating on shares of Lancaster Colony in a report on Friday, November 1st. Finally, Stephens cut their price target on Lancaster Colony from $200.00 to $196.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $193.50.

Lancaster Colony Trading Down 1.9 %

Shares of NASDAQ:LANC opened at $180.75 on Monday. Lancaster Colony Co. has a 12 month low of $161.54 and a 12 month high of $215.31. The stock has a market cap of $4.98 billion, a P/E ratio of 31.27 and a beta of 0.35. The company has a 50 day moving average of $180.97 and a 200 day moving average of $184.95.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results 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 net margin of 8.49% and a return on equity of 19.01%. The firm had revenue of $466.56 million for the quarter, compared to analysts’ expectations of $468.36 million. During the same quarter last year, the firm earned $1.70 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities analysts forecast that Lancaster Colony Co. will post 6.72 earnings per share for the current fiscal year.

Lancaster Colony Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 5th will be paid a $0.95 dividend. This is a positive change from Lancaster Colony’s previous quarterly dividend of $0.90. This represents a $3.80 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Thursday, December 5th. Lancaster Colony’s dividend payout ratio is currently 62.28%.

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.