Atria Investments Inc Purchases 98 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Atria Investments Inc raised its position in Lancaster Colony Co. (NASDAQ:LANC) by 2.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,060 shares of the company’s stock after acquiring an additional 98 shares during the period. Atria Investments Inc’s holdings in Lancaster Colony were worth $717,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of Lancaster Colony in the third quarter worth $27,000. Opal Wealth Advisors LLC bought a new stake in Lancaster Colony during the 2nd quarter worth about $28,000. GAMMA Investing LLC boosted its stake in shares of Lancaster Colony by 115.9% during the 2nd quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock worth $33,000 after buying an additional 95 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Lancaster Colony in the 2nd quarter valued at about $38,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Lancaster Colony in the second quarter valued at about $74,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Lancaster Colony Trading Down 0.4 %

LANC opened at $180.04 on Tuesday. The stock’s fifty day simple moving average is $180.97 and its 200 day simple moving average is $184.90. Lancaster Colony Co. has a 1-year low of $161.54 and a 1-year high of $215.31. The stock has a market cap of $4.96 billion, a PE ratio of 31.15 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last posted its earnings results on Thursday, October 31st. The company reported $1.62 earnings per share (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 company had revenue of $466.56 million for the quarter, compared to analyst estimates of $468.36 million. During the same quarter in the prior year, the business posted $1.70 EPS. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities analysts forecast that Lancaster Colony Co. will post 6.72 earnings per share for the current year.

Lancaster Colony Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, December 5th. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.90. Lancaster Colony’s payout ratio is currently 62.28%.

Analysts Set New Price Targets

LANC has been the subject of a number of analyst reports. StockNews.com downgraded Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Loop Capital decreased 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, November 1st. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research note on Friday, November 1st. Finally, Stephens decreased their price objective on shares of Lancaster Colony from $200.00 to $196.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $193.50.

Insider Activity

In other Lancaster Colony news, Director Elliot K. Fullen purchased 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the completion of the purchase, the director now owns 5,298 shares of the company’s stock, valued at approximately $895,362. The trade was a 130.55 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 29.50% of the stock is owned by company insiders.

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.