Lancaster Colony Co. (NASDAQ:LANC) Shares Purchased by Guggenheim Capital LLC

Guggenheim Capital LLC lifted its holdings in Lancaster Colony Co. (NASDAQ:LANC) by 70.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,131 shares of the company’s stock after acquiring an additional 1,707 shares during the quarter. Guggenheim Capital LLC’s holdings in Lancaster Colony were worth $838,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LANC. Atlas Capital Advisors LLC acquired a new stake in shares of Lancaster Colony in the fourth quarter worth $46,000. Ronald Blue Trust Inc. grew its position in Lancaster Colony by 103.8% during the first quarter. Ronald Blue Trust Inc. now owns 265 shares of the company’s stock valued at $52,000 after buying an additional 135 shares during the period. James Investment Research Inc. grew its position in Lancaster Colony by 127.7% during the first quarter. James Investment Research Inc. now owns 337 shares of the company’s stock valued at $68,000 after buying an additional 189 shares during the period. State of Wyoming acquired a new stake in Lancaster Colony during the fourth quarter valued at $96,000. Finally, Van ECK Associates Corp acquired a new stake in Lancaster Colony during the fourth quarter valued at $130,000. Institutional investors and hedge funds own 60.49% of the company’s stock.

Lancaster Colony Stock Up 0.4 %

LANC opened at $165.85 on Tuesday. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 41.15 and a beta of 0.23. Lancaster Colony Co. has a 52-week low of $149.76 and a 52-week high of $220.65. The firm’s fifty day simple moving average is $186.60 and its two-hundred day simple moving average is $195.55.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings data on Wednesday, August 23rd. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.26). The company had revenue of $454.70 million for the quarter, compared to analysts’ expectations of $481.13 million. Lancaster Colony had a net margin of 6.11% and a return on equity of 15.02%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $1.35 earnings per share. On average, research analysts forecast that Lancaster Colony Co. will post 6.25 EPS for the current year.

Lancaster Colony Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, September 7th. Lancaster Colony’s payout ratio is 84.37%.

Analyst Ratings Changes

Several research firms recently commented on LANC. StockNews.com began coverage on shares of Lancaster Colony in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Loop Capital dropped their price target on shares of Lancaster Colony from $237.00 to $226.00 and set a “buy” rating on the stock in a research report on Thursday, August 24th.

Lancaster Colony Company Profile

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.