Retirement Planning Group LLC Buys Shares of 5,465 Lancaster Colony Co. (NASDAQ:LANC)

by · The Cerbat Gem

Retirement Planning Group LLC purchased a new position in Lancaster Colony Co. (NASDAQ:LANC – Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,465 shares of the company’s stock, valued at approximately $965,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Opal Wealth Advisors LLC bought a new stake in shares of Lancaster Colony during the second quarter valued at approximately $28,000. GAMMA Investing LLC raised its stake in shares of Lancaster Colony by 115.9% in the second quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock worth $33,000 after purchasing an additional 95 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Lancaster Colony during the second quarter valued at $38,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Lancaster Colony during the second quarter valued at $74,000. Finally, nVerses Capital LLC purchased a new stake in shares of Lancaster Colony during the second quarter valued at $113,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Lancaster Colony Price Performance

Shares of LANC stock opened at $180.28 on Friday. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 37.40 and a beta of 0.35. Lancaster Colony Co. has a 1 year low of $160.01 and a 1 year high of $215.31. The firm has a fifty day moving average price of $180.96 and a 200-day moving average price of $187.18.

Lancaster Colony (NASDAQ:LANC – Get Free Report) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.06). The company had revenue of $452.83 million for the quarter, compared to analysts’ expectations of $462.70 million. Lancaster Colony had a net margin of 8.47% and a return on equity of 19.61%. Equities research analysts expect that Lancaster Colony Co. will post 6.96 EPS for the current year.

Lancaster Colony Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $3.60 annualized dividend and a dividend yield of 2.00%. Lancaster Colony’s payout ratio is 74.69%.

Insider Buying and Selling

In other Lancaster Colony news, Director Elliot K. Fullen purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were acquired at an average cost of $169.00 per share, with a total value of $507,000.00. Following the completion of the acquisition, the director now directly owns 5,298 shares in the company, valued at $895,362. The trade was a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 29.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on LANC shares. Benchmark restated a “hold” rating on shares of Lancaster Colony in a research note on Wednesday, September 18th. StockNews.com downgraded shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Stephens cut their target price on shares of Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd. Finally, Loop Capital reduced their price objective on Lancaster Colony from $236.00 to $232.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Lancaster Colony presently has an average rating of “Hold” and a consensus price target of $195.75.

View Our Latest Stock Analysis on LANC

Lancaster Colony Company Profile

(Free Report)

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.

Further Reading

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