Federated Hermes Inc. Cuts Position in Lancaster Colony Co. (NASDAQ:LANC)

Federated Hermes Inc. reduced its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 14.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,451 shares of the company’s stock after selling 403 shares during the quarter. Federated Hermes Inc.’s holdings in Lancaster Colony were worth $408,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. UMB Bank n.a. lifted its position in Lancaster Colony by 11.8% during the fourth quarter. UMB Bank n.a. now owns 894 shares of the company’s stock valued at $149,000 after purchasing an additional 94 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Lancaster Colony by 141.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,181 shares of the company’s stock valued at $195,000 after buying an additional 691 shares during the period. Laurion Capital Management LP bought a new stake in Lancaster Colony in the third quarter worth $205,000. Nisa Investment Advisors LLC boosted its stake in Lancaster Colony by 235.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the company’s stock worth $225,000 after buying an additional 950 shares during the period. Finally, Keybank National Association OH lifted its holdings in shares of Lancaster Colony by 48.8% in the 3rd quarter. Keybank National Association OH now owns 1,525 shares of the company’s stock worth $252,000 after acquiring an additional 500 shares during the last quarter. 66.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Kristin Bird sold 1,207 shares of Lancaster Colony stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $192.66, for a total transaction of $232,540.62. Following the completion of the transaction, the insider now directly owns 3,546 shares of the company’s stock, valued at approximately $683,172.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 29.60% of the stock is owned by corporate insiders.

Lancaster Colony Stock Performance

Lancaster Colony stock opened at $191.50 on Friday. The stock has a market cap of $5.27 billion, a PE ratio of 39.73 and a beta of 0.39. The stock has a 50-day moving average of $199.06 and a two-hundred day moving average of $182.34. Lancaster Colony Co. has a one year low of $158.88 and a one year high of $220.65.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.42 by $0.02. The firm had revenue of $471.40 million during the quarter, compared to analyst estimates of $467.90 million. Lancaster Colony had a net margin of 7.10% and a return on equity of 18.96%. Lancaster Colony’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the firm posted $0.89 EPS. As a group, sell-side analysts predict that Lancaster Colony Co. will post 6.47 EPS for the current fiscal year.

Lancaster Colony Announces Dividend

The business 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 annualized dividend and a dividend yield of 1.88%. Lancaster Colony’s dividend payout ratio (DPR) is presently 74.69%.

Analyst Ratings Changes

Several analysts have recently weighed in on LANC shares. Stephens reiterated an “equal weight” rating and set a $218.00 target price on shares of Lancaster Colony in a research report on Friday. StockNews.com raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research report on Friday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lancaster Colony has an average rating of “Hold” and a consensus target price of $198.75.

About Lancaster Colony

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.