Mutual of America Capital Management LLC lessened its stake in shares of Lancaster Colony Co. (NASDAQ:LANC – Free Report) by 8.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,237 shares of the company’s stock after selling 1,188 shares during the period. Mutual of America Capital Management LLC’s holdings in Lancaster Colony were worth $2,185,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Lancaster Colony by 6.1% during the 1st quarter. BlackRock Inc. now owns 2,559,086 shares of the company’s stock worth $519,187,000 after acquiring an additional 147,890 shares during the period. State Street Corp increased its stake in Lancaster Colony by 20.2% during the 3rd quarter. State Street Corp now owns 2,443,913 shares of the company’s stock worth $367,271,000 after acquiring an additional 410,104 shares during the period. Vanguard Group Inc. increased its stake in Lancaster Colony by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,079,570 shares of the company’s stock worth $312,518,000 after acquiring an additional 14,711 shares during the period. Champlain Investment Partners LLC increased its stake in Lancaster Colony by 9.0% during the 2nd quarter. Champlain Investment Partners LLC now owns 650,093 shares of the company’s stock worth $130,727,000 after acquiring an additional 53,895 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its stake in shares of Lancaster Colony by 10.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 596,321 shares of the company’s stock valued at $98,411,000 after purchasing an additional 56,787 shares during the last quarter. Institutional investors own 60.49% of the company’s stock.
Analysts Set New Price Targets
LANC has been the topic of several recent analyst reports. TheStreet upgraded Lancaster Colony from a “c+” rating to a “b-” rating in a research note on Tuesday, November 7th. Jefferies Financial Group initiated coverage on Lancaster Colony in a research note on Monday, November 27th. They issued a “hold” rating and a $166.00 price target on the stock. Stephens lowered Lancaster Colony from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $205.00 to $218.00 in a research note on Friday, February 2nd. Finally, DA Davidson initiated coverage on Lancaster Colony in a report on Friday, December 8th. They set a “neutral” rating and a $185.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $198.75.
View Our Latest Stock Analysis on LANC
Lancaster Colony Stock Up 0.4 %
NASDAQ LANC opened at $192.89 on Friday. Lancaster Colony Co. has a twelve month low of $158.88 and a twelve month high of $220.65. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 41.22 and a beta of 0.32. The business’s fifty day moving average is $175.45 and its 200 day moving average is $172.47.
Lancaster Colony Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 7th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.87%. The ex-dividend date is Wednesday, March 6th. Lancaster Colony’s payout ratio is presently 76.92%.
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.
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