Truist Financial Corp Has $3.92 Million Position in Lancaster Colony Co. (NASDAQ:LANC)

Truist Financial Corp grew its position in Lancaster Colony Co. (NASDAQ:LANC) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,571 shares of the company’s stock after purchasing an additional 921 shares during the period. Truist Financial Corp’s holdings in Lancaster Colony were worth $3,922,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LANC. UMB Bank n.a. increased its position in shares of Lancaster Colony by 11.8% in the 4th quarter. UMB Bank n.a. now owns 894 shares of the company’s stock valued at $149,000 after buying an additional 94 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Lancaster Colony by 141.0% during the third quarter. Daiwa Securities Group Inc. now owns 1,181 shares of the company’s stock worth $195,000 after purchasing an additional 691 shares during the period. Laurion Capital Management LP bought a new position in shares of Lancaster Colony during the 3rd quarter valued at about $205,000. Nisa Investment Advisors LLC grew its position in shares of Lancaster Colony by 235.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the company’s stock valued at $225,000 after purchasing an additional 950 shares during the period. Finally, Keybank National Association OH increased its stake in Lancaster Colony by 48.8% during the 3rd quarter. Keybank National Association OH now owns 1,525 shares of the company’s stock worth $252,000 after purchasing an additional 500 shares in the last quarter. 66.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LANC has been the topic of a number of research reports. Stephens reaffirmed an “equal weight” rating and issued a $218.00 price target on shares of Lancaster Colony in a research note on Friday. StockNews.com raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $198.75.

Insider Buying and Selling

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

Lancaster Colony Stock Up 0.2 %

Shares of LANC opened at $191.91 on Tuesday. Lancaster Colony Co. has a twelve month low of $158.88 and a twelve month high of $218.96. The stock has a market capitalization of $5.28 billion, a P/E ratio of 39.82 and a beta of 0.39. The company has a 50 day moving average of $198.87 and a 200-day moving average of $182.56.

Lancaster Colony (NASDAQ:LANC) last released its earnings results on Thursday, May 2nd. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.02. The business had revenue of $471.40 million during the quarter, compared to the consensus estimate of $467.90 million. Lancaster Colony had a net margin of 7.10% and a return on equity of 18.96%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 earnings per share. On average, sell-side analysts anticipate that Lancaster Colony Co. will post 6.53 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 7th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $3.60 annualized dividend and a dividend yield of 1.88%. Lancaster Colony’s dividend payout ratio is currently 74.69%.

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.