GAMMA Investing LLC increased its holdings in Lancaster Colony Co. (NASDAQ:LANC – Free Report) by 115.9% during the second quarter, according to the company’s most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 177 shares of the company’s stock after acquiring an additional 95 shares during the period. GAMMA Investing LLC’s holdings in Lancaster Colony were worth $33,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently changed their hold on the company. Capstone Investment Advisors LLC acquired a new stake in Lancaster Colony in the 1st quarter valued at $864,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Lancaster Colony in the first quarter valued at about $868,000. Mesirow Institutional Investment Management Inc. increased its stake in Lancaster Colony by 72.6% in the fourth quarter. Mesirow Institutional Investment Management Inc. now owns 86,280 shares of the company’s stock valued at $14,356,000 after acquiring an additional 36,291 shares in the last quarter. Foguth Wealth Management LLC. acquired a new stake in Lancaster Colony in the first quarter valued at about $862,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Lancaster Colony in the 4th quarter valued at approximately $2,445,000. Institutional investors and hedge funds own 66.44% of the company’s shares.
Changes in analyst ratings
LANC has been the subject of a number of analyst reports lately. StockNews.com upgraded shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Stephens reiterated an “equal weight” rating and issued a $218.00 price target on shares of Lancaster Colony in a research note on Friday, May 3rd. Three research analysts have rated the stock with a “hold” rating and two have given a “buy” rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $198.75.
Check out our latest stock analysis on LANC
Lancaster Colony shares rise 0.0%
NASDAQ LANC opened at $192.30 on Monday. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 39.90, and a beta of 0.37. Lancaster Colony Co. has a twelve-month low of $158.88 and a twelve-month high of $215.31. The company’s 50-day moving average is $187.72 and its 200-day moving average is $192.45.
Lancaster Colony Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a dividend of $0.90 per share. This represents an annualized dividend of $3.60 and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, June 7th. Lancaster Colony’s Dividend Payout Ratio (DPR) is currently 74.69%.
Lancaster Colony Company Profile
(Free report)
Lancaster Colony Corporation is engaged in the manufacture and marketing of specialty foods for the retail and foodservice industries in the United States. It operates in two segments: Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery brand, frozen yeast and Parkerhouse-style 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 garnishes under the New York BRAND Bakery, Chatham Village and Marzetti brands, and frozen pasta under the Marzetti Frozen Pasta brand.
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