Lancaster Colony Co. (NASDAQ:LANC) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. trimmed its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC) by 57.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,295 shares of the company’s stock after selling 1,760 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Lancaster Colony were worth $245,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. UMB Bank n.a. increased its position in shares of Lancaster Colony by 6.5% during the first quarter. UMB Bank n.a. now owns 952 shares of the company’s stock worth $198,000 after acquiring an additional 58 shares during the last quarter. Retirement Systems of Alabama increased its position in shares of Lancaster Colony by 0.3% during the first quarter. Retirement Systems of Alabama now owns 25,570 shares of the company’s stock worth $5,309,000 after acquiring an additional 67 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Lancaster Colony by 115.9% during the second quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock worth $33,000 after acquiring an additional 95 shares during the last quarter. State of Michigan Retirement System increased its position in shares of Lancaster Colony by 2.0% during the first quarter. State of Michigan Retirement System now owns 5,032 shares of the company’s stock worth $1,045,000 after acquiring an additional 100 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Lancaster Colony by 7.1% during the first quarter. Daiwa Securities Group Inc. now owns 1,595 shares of the company’s stock worth $331,000 after acquiring an additional 106 shares during the last quarter. 66.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. StockNews.com lowered Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Loop Capital lowered their price objective on Lancaster Colony from $236.00 to $232.00 and set a “buy” rating for the company in a report on Monday, August 26th. Finally, Stephens lowered their price objective on Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Lancaster Colony presently has an average rating of “Hold” and an average price target of $195.75.

Insider Activity

In related news, Director Elliot K. Fullen bought 3,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of $169.00 per share, with a total value of $507,000.00. Following the completion of the acquisition, the director now owns 5,298 shares of the company’s stock, valued at $895,362. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 29.60% of the company’s stock.

Lancaster Colony Trading Up 3.4 %

NASDAQ:LANC opened at $176.64 on Thursday. The firm has a market capitalization of $4.86 billion, a PE ratio of 36.65 and a beta of 0.37. The stock has a 50 day moving average of $186.29 and a 200-day moving average of $191.68. Lancaster Colony Co. has a 52 week low of $158.88 and a 52 week high of $215.31.

Lancaster Colony Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Monday, September 9th. Lancaster Colony’s dividend payout ratio (DPR) is presently 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.