Diversified Trust Co Cuts Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Diversified Trust Co decreased its stake in shares of Lancaster Colony Co. (NASDAQ:LANC) by 13.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,660 shares of the company’s stock after selling 725 shares during the quarter. Diversified Trust Co’s holdings in Lancaster Colony were worth $807,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in LANC. Geode Capital Management LLC increased its holdings in shares of Lancaster Colony by 2.7% during the third quarter. Geode Capital Management LLC now owns 556,223 shares of the company’s stock valued at $98,227,000 after acquiring an additional 14,864 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Lancaster Colony by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 520,335 shares of the company’s stock valued at $98,326,000 after acquiring an additional 25,072 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Lancaster Colony by 5.5% in the 2nd quarter. Renaissance Technologies LLC now owns 306,080 shares of the company’s stock worth $57,840,000 after acquiring an additional 15,962 shares during the last quarter. Blair William & Co. IL lifted its position in Lancaster Colony by 2,386.6% in the 2nd quarter. Blair William & Co. IL now owns 172,075 shares of the company’s stock valued at $32,517,000 after acquiring an additional 165,155 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its stake in Lancaster Colony by 4,189.1% during 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 during the last quarter. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Analysts Set New Price Targets

LANC has been the topic of a number of research analyst reports. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th. Stephens reissued 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, Loop Capital dropped their price target on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a report on Friday, November 1st.

Lancaster Colony Price Performance

Shares of LANC opened at $169.70 on Friday. The firm has a market capitalization of $4.68 billion, a P/E ratio of 29.36 and a beta of 0.36. Lancaster Colony Co. has a one year low of $162.60 and a one year high of $215.31. The business has a fifty day moving average of $183.56 and a 200 day moving average of $183.09.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.08). The business had revenue of $466.56 million for the quarter, compared to analysts’ expectations of $468.36 million. Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. Lancaster Colony’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.70 EPS. Analysts expect that Lancaster Colony Co. will post 6.7 EPS for the current fiscal year.

Lancaster Colony Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Thursday, December 5th. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.90. Lancaster Colony’s dividend payout ratio (DPR) is currently 65.74%.

Lancaster Colony 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.