Swiss National Bank Lowers Position in Lancaster Colony Co. (NASDAQ:LANC)

Swiss National Bank reduced its stake in Lancaster Colony Co. (NASDAQ:LANCFree Report) by 10.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,026 shares of the company’s stock after selling 4,300 shares during the quarter. Swiss National Bank’s holdings in Lancaster Colony were worth $6,327,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. increased its position in shares of Lancaster Colony by 11.8% during the 4th 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. increased its position in shares of 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 purchasing an additional 691 shares during the last quarter. Laurion Capital Management LP purchased a new stake in shares of Lancaster Colony during the 3rd quarter valued at $205,000. Nisa Investment Advisors LLC increased its position in shares of Lancaster Colony by 235.7% during 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 last quarter. Finally, Keybank National Association OH increased its position in shares of Lancaster Colony by 48.8% during the 3rd quarter. Keybank National Association OH now owns 1,525 shares of the company’s stock valued at $252,000 after purchasing an additional 500 shares during the last quarter. 66.44% of the stock is owned by hedge funds and other institutional investors.

Lancaster Colony Trading Down 0.5 %

Shares of LANC opened at $193.39 on Thursday. The stock has a 50-day moving average price of $197.46 and a 200-day moving average price of $183.87. The company has a market cap of $5.32 billion, a PE ratio of 40.12 and a beta of 0.39. Lancaster Colony Co. has a 12-month low of $158.88 and a 12-month high of $215.31.

Lancaster Colony (NASDAQ:LANCGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.02. The company had revenue of $471.40 million during the quarter, compared to the consensus estimate of $467.90 million. Lancaster Colony had a return on equity of 18.96% and a net margin of 7.10%. Lancaster Colony’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. As a group, analysts predict that Lancaster Colony Co. will post 6.52 earnings per share for the current year.

Insiders Place Their Bets

In other Lancaster Colony news, insider Kristin Bird sold 1,207 shares of Lancaster Colony stock in a transaction that occurred on Friday, February 16th. The stock was 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 approximately $683,172.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 29.60% of the company’s stock.

Wall Street Analyst Weigh In

LANC has been the subject of several recent research reports. Stephens reissued an “equal weight” rating and issued a $218.00 price objective on shares of Lancaster Colony in a report on Friday, May 3rd. StockNews.com upgraded Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $198.75.

Read Our Latest Analysis on LANC

About Lancaster Colony

(Free Report)

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.

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

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