Swiss National Bank Has $5.85 Million Position in Lancaster Colony Co. (NASDAQ:LANC)

Swiss National Bank lowered its position in Lancaster Colony Co. (NASDAQ:LANCGet Rating) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,426 shares of the company’s stock after selling 200 shares during the period. Swiss National Bank owned 0.17% of Lancaster Colony worth $5,850,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CEO David Alan Ciesinski sold 7,926 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 62,183 shares of the company’s stock, valued at $13,059,051.83. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider David S. Nagle sold 720 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $172.51, for a total value of $124,207.20. Following the completion of the transaction, the insider now directly owns 5,842 shares of the company’s stock, valued at $1,007,803.42. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Alan Ciesinski sold 7,926 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 62,183 shares of the company’s stock, valued at $13,059,051.83. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,240 shares of company stock valued at $2,485,516. 29.90% of the stock is owned by company insiders.

Lancaster Colony Trading Down 0.8 %

LANC opened at $203.58 on Thursday. Lancaster Colony Co. has a 1-year low of $116.85 and a 1-year high of $214.00. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 58.17 and a beta of 0.18. The business has a 50 day moving average of $177.50 and a 200-day moving average of $151.32.

Lancaster Colony (NASDAQ:LANCGet Rating) last posted its quarterly earnings data on Thursday, August 25th. The company reported $1.35 earnings per share 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 company had revenue of $452.40 million during the quarter, compared to analysts’ expectations of $415.53 million. During the same period in the prior year, the business earned $1.15 earnings per share. Lancaster Colony’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities analysts predict that Lancaster Colony Co. will post 5.69 EPS for the current year.

Lancaster Colony Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Monday, December 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.67%. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, December 2nd. Lancaster Colony’s dividend payout ratio is currently 91.43%.

Lancaster Colony Profile

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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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Institutional Ownership by Quarter for Lancaster Colony (NASDAQ:LANC)

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