Cwm LLC Trims Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Cwm LLC lowered its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,029 shares of the company’s stock after selling 458 shares during the period. Cwm LLC’s holdings in Lancaster Colony were worth $1,003,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of LANC. William Blair Investment Management LLC lifted its position in Lancaster Colony by 12.5% during the third quarter. William Blair Investment Management LLC now owns 1,307,612 shares of the company’s stock valued at $215,795,000 after purchasing an additional 145,560 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in Lancaster Colony by 10.5% during the third 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. Victory Capital Management Inc. lifted its position in Lancaster Colony by 46.0% during the third quarter. Victory Capital Management Inc. now owns 328,635 shares of the company’s stock valued at $54,235,000 after purchasing an additional 103,550 shares during the last quarter. Boston Trust Walden Corp lifted its position in Lancaster Colony by 54.5% during the fourth quarter. Boston Trust Walden Corp now owns 319,366 shares of the company’s stock valued at $53,139,000 after purchasing an additional 112,696 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Lancaster Colony by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 267,527 shares of the company’s stock valued at $44,150,000 after purchasing an additional 6,113 shares during the last quarter. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Lancaster Colony Stock Performance

Shares of LANC opened at $187.03 on Monday. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 39.96 and a beta of 0.35. Lancaster Colony Co. has a fifty-two week low of $158.88 and a fifty-two week high of $220.65. The firm has a 50 day moving average price of $199.39 and a 200-day moving average price of $181.81.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.27. The firm had revenue of $485.92 million during the quarter, compared to analyst estimates of $489.00 million. Lancaster Colony had a net margin of 6.92% and a return on equity of 17.37%. As a group, equities research analysts predict that Lancaster Colony Co. will post 6.47 earnings per share for the current year.

Lancaster Colony Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 7th were issued a $0.90 dividend. The ex-dividend date was Wednesday, March 6th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.92%. Lancaster Colony’s payout ratio is 76.92%.

Insider Transactions at Lancaster Colony

In related news, insider Kristin Bird sold 1,207 shares of Lancaster Colony stock in a transaction on Friday, February 16th. The shares were sold at an average price of $192.66, for a total value of $232,540.62. Following the transaction, the insider now directly owns 3,546 shares of the company’s stock, valued at $683,172.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 29.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stephens lowered shares of Lancaster Colony from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $205.00 to $218.00 in a research report on Friday, February 2nd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $198.75.

Lancaster Colony Company Profile

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.