David Alan Ciesinski Sells 7,926 Shares of Lancaster Colony Co. (NASDAQ:LANC) Stock

Lancaster Colony Co. (NASDAQ:LANCGet Rating) CEO David Alan Ciesinski sold 7,926 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $210.01, for a total value of $1,664,539.26. Following the transaction, the chief executive officer now owns 62,183 shares in the company, valued at approximately $13,059,051.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

David Alan Ciesinski also recently made the following trade(s):

  • On Thursday, November 10th, David Alan Ciesinski sold 2,225 shares of Lancaster Colony stock. The stock was sold at an average price of $209.16, for a total value of $465,381.00.

Lancaster Colony Price Performance

Shares of Lancaster Colony stock opened at $204.46 on Friday. The business has a 50 day simple moving average of $171.95 and a two-hundred day simple moving average of $148.20. Lancaster Colony Co. has a 12 month low of $116.85 and a 12 month high of $214.00. The stock has a market capitalization of $5.63 billion, a P/E ratio of 58.42 and a beta of 0.18.

Lancaster Colony (NASDAQ:LANCGet Rating) last posted its quarterly earnings results on Thursday, August 25th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $0.50 by $0.85. Lancaster Colony had a return on equity of 14.40% and a net margin of 5.64%. The firm had revenue of $452.40 million during the quarter, compared to analysts’ expectations of $415.53 million. During the same quarter last year, the firm earned $1.15 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, research analysts anticipate that Lancaster Colony Co. will post 5.69 EPS for the current fiscal year.

Lancaster Colony Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Monday, December 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Friday, December 2nd. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.80. Lancaster Colony’s dividend payout ratio (DPR) is currently 91.43%.

Analyst Ratings Changes

A number of brokerages have commented on LANC. StockNews.com began coverage on Lancaster Colony in a report on Wednesday, October 12th. They set a “hold” rating for the company. TheStreet raised Lancaster Colony from a “c” rating to a “b” rating in a report on Monday, August 29th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, Lancaster Colony presently has a consensus rating of “Hold” and a consensus target price of $153.67.

Institutional Investors Weigh In On Lancaster Colony

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Park Avenue Securities LLC increased its holdings in shares of Lancaster Colony by 35.9% in the first quarter. Park Avenue Securities LLC now owns 1,988 shares of the company’s stock valued at $297,000 after purchasing an additional 525 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in Lancaster Colony by 20.4% during the second quarter. State of New Jersey Common Pension Fund D now owns 18,663 shares of the company’s stock worth $2,403,000 after acquiring an additional 3,159 shares during the last quarter. AlphaCrest Capital Management LLC increased its stake in Lancaster Colony by 605.5% during the first quarter. AlphaCrest Capital Management LLC now owns 8,805 shares of the company’s stock worth $1,313,000 after acquiring an additional 7,557 shares during the last quarter. ProShare Advisors LLC increased its stake in Lancaster Colony by 8.0% during the second quarter. ProShare Advisors LLC now owns 223,132 shares of the company’s stock worth $28,734,000 after acquiring an additional 16,575 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC acquired a new stake in Lancaster Colony during the first quarter worth $34,000. Institutional investors and hedge funds own 61.28% of the company’s stock.

Lancaster Colony Company Profile

(Get Rating)

Lancaster Colony Corporation engages in the manufacturing and marketing of food products for the retail and foodservice markets 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; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti; and frozen pasta under the Marzetti Frozen Pasta brand.

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