Oppenheimer & Co. Inc. decreased its stake in shares of Lancaster Colony Corporation (NASDAQ:LANC) by 6.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,582 shares of the company’s stock after selling 104 shares during the period. Oppenheimer & Co. Inc.’s holdings in Lancaster Colony Corporation were worth $204,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of Lancaster Colony Corporation during the first quarter valued at $129,000. Harfst & Associates Inc. acquired a new stake in shares of Lancaster Colony Corporation during the first quarter valued at $174,000. Credit Agricole S A increased its stake in shares of Lancaster Colony Corporation by 4.5% in the first quarter. Credit Agricole S A now owns 1,522 shares of the company’s stock valued at $196,000 after buying an additional 66 shares during the last quarter. Stifel Financial Corp acquired a new stake in shares of Lancaster Colony Corporation during the first quarter valued at $261,000. Finally, Numeric Investors LLC acquired a new stake in shares of Lancaster Colony Corporation during the fourth quarter valued at $283,000. 50.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lancaster Colony Corporation (NASDAQ:LANC) opened at 121.69 on Monday. Lancaster Colony Corporation has a 1-year low of $117.50 and a 1-year high of $149.30. The stock has a 50 day moving average price of $124.30 and a 200-day moving average price of $130.75. The company has a market cap of $3.34 billion, a P/E ratio of 28.43 and a beta of 1.02.
Lancaster Colony Corporation (NASDAQ:LANC) last posted its quarterly earnings results on Thursday, April 27th. The company reported $0.95 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.09 by $0.14. The company had revenue of $293.83 million during the quarter, compared to analyst estimates of $286.37 million. Lancaster Colony Corporation had a net margin of 9.82% and a return on equity of 23.80%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $1.06 EPS. Analysts predict that Lancaster Colony Corporation will post $4.71 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 8th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Tuesday, June 6th. Lancaster Colony Corporation’s payout ratio is presently 51.28%.
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LANC has been the topic of several recent analyst reports. Vertical Group raised Lancaster Colony Corporation from a “hold” rating to a “buy” rating and lifted their target price for the company from $123.00 to $146.00 in a research note on Tuesday, May 30th. Vertical Research raised Lancaster Colony Corporation from a “hold” rating to a “buy” rating in a research note on Friday, May 26th. Zacks Investment Research raised Lancaster Colony Corporation from a “hold” rating to a “buy” rating and set a $144.00 target price on the stock in a research note on Tuesday, March 28th. Finally, Wedbush reaffirmed an “outperform” rating and set a $160.00 target price on shares of Lancaster Colony Corporation in a research note on Monday, April 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $147.20.
About Lancaster Colony Corporation
Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar.
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