Lancaster Colony Co. (NASDAQ:LANC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC) by 10.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,416 shares of the company’s stock after selling 1,248 shares during the period. Mutual of America Capital Management LLC’s holdings in Lancaster Colony were worth $1,839,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Blair William & Co. IL increased its position in shares of Lancaster Colony by 2,386.6% during the second quarter. Blair William & Co. IL now owns 172,075 shares of the company’s stock worth $32,517,000 after acquiring an additional 165,155 shares during the last quarter. Wesbanco Bank Inc. raised its position in shares of Lancaster Colony by 4,189.1% in the 3rd quarter. Wesbanco Bank Inc. now owns 163,800 shares of the company’s stock valued at $28,922,000 after purchasing an additional 159,981 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Lancaster Colony by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,186,162 shares of the company’s stock valued at $453,913,000 after buying an additional 85,658 shares during the last quarter. F M Investments LLC bought a new stake in shares of Lancaster Colony in the second quarter worth $7,997,000. Finally, Millennium Management LLC raised its holdings in Lancaster Colony by 1,055.2% in the second quarter. Millennium Management LLC now owns 36,090 shares of the company’s stock valued at $6,820,000 after acquiring an additional 32,966 shares in the last quarter. 66.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lancaster Colony

In other news, Director Elliot K. Fullen acquired 3,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were bought at an average price of $169.00 per share, with a total value of $507,000.00. Following the purchase, the director now 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 document filed with the Securities & Exchange Commission, which is available through this link. 29.50% of the stock is owned by company insiders.

Lancaster Colony Stock Performance

LANC stock opened at $186.38 on Monday. Lancaster Colony Co. has a 1 year low of $161.54 and a 1 year high of $215.31. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 32.25 and a beta of 0.35. The stock’s fifty day moving average is $181.44 and its two-hundred day moving average is $184.58.

Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.62 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $468.36 million. During the same quarter in the prior year, the business earned $1.70 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, analysts predict that Lancaster Colony Co. will post 6.72 EPS 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. Investors of record on Thursday, December 5th will be given a $0.95 dividend. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, December 5th. Lancaster Colony’s dividend payout ratio (DPR) is currently 62.28%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Loop Capital dropped 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 report on Friday, November 1st. StockNews.com cut Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Stephens reiterated an “equal weight” rating and issued a $196.00 target price on shares of Lancaster Colony in a research report on Tuesday, November 19th. Finally, Benchmark reissued a “hold” rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $193.50.

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.