Parallel Advisors LLC Trims Stake in Lancaster Colony Co. (NASDAQ:LANC)

Parallel Advisors LLC lowered its holdings in Lancaster Colony Co. (NASDAQ:LANCFree Report) by 12.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,441 shares of the company’s stock after selling 205 shares during the period. Parallel Advisors LLC’s holdings in Lancaster Colony were worth $240,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Lancaster Colony by 1.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,127 shares of the company’s stock worth $687,000 after purchasing an additional 55 shares during the last quarter. Arizona State Retirement System increased its position in shares of Lancaster Colony by 1.2% during the 3rd quarter. Arizona State Retirement System now owns 5,485 shares of the company’s stock valued at $905,000 after purchasing an additional 64 shares during the last quarter. Retirement Systems of Alabama raised its holdings in shares of Lancaster Colony by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 25,503 shares of the company’s stock valued at $4,243,000 after buying an additional 73 shares in the last quarter. UMB Bank n.a. lifted its position in Lancaster Colony by 11.8% in the 4th quarter. UMB Bank n.a. now owns 894 shares of the company’s stock worth $149,000 after buying an additional 94 shares during the last quarter. Finally, State of Michigan Retirement System raised its stake in shares of Lancaster Colony by 2.1% during the fourth quarter. State of Michigan Retirement System now owns 4,932 shares of the company’s stock worth $821,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Lancaster Colony Stock Up 1.4 %

Shares of NASDAQ LANC opened at $185.50 on Monday. The firm’s fifty day moving average is $193.80 and its 200 day moving average is $185.53. Lancaster Colony Co. has a 52 week low of $158.88 and a 52 week high of $215.31. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 38.49 and a beta of 0.37.

Lancaster Colony (NASDAQ:LANCGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.02. The firm had revenue of $471.40 million for the quarter, compared to analysts’ expectations of $467.90 million. Lancaster Colony had a net margin of 7.10% and a return on equity of 18.96%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 earnings per share. Equities research analysts anticipate that Lancaster Colony Co. will post 6.51 earnings per share for the current year.

Lancaster Colony Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.94%. Lancaster Colony’s dividend payout ratio is presently 74.69%.

Analyst Upgrades and Downgrades

LANC has been the topic of several recent research reports. Stephens reaffirmed an “equal weight” rating and set a $218.00 target price on shares of Lancaster Colony in a report on Friday, May 3rd. StockNews.com raised 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 issued a buy rating to the company’s stock. According to MarketBeat, Lancaster Colony has an average rating of “Hold” and an average target price of $198.75.

Get Our Latest Report on LANC

Lancaster Colony Company Profile

(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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