Pacer Advisors Inc. Lowers Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Pacer Advisors Inc. reduced its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 19.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,010 shares of the company’s stock after selling 727 shares during the period. Pacer Advisors Inc.’s holdings in Lancaster Colony were worth $569,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in shares of Lancaster Colony in the 2nd quarter worth approximately $28,000. GAMMA Investing LLC grew its stake in Lancaster Colony by 115.9% in the 2nd quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock valued at $33,000 after purchasing an additional 95 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Lancaster Colony during the 2nd quarter valued at $38,000. Brown Brothers Harriman & Co. bought a new stake in shares of Lancaster Colony during the 4th quarter worth $67,000. Finally, Clarity Asset Management Inc. purchased a new position in shares of Lancaster Colony in the 4th quarter worth about $70,000. 66.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on LANC shares. StockNews.com lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research note on Wednesday, September 18th. Stephens decreased their target price on Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd. Finally, Loop Capital dropped their price target on Lancaster Colony from $236.00 to $232.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $195.75.

Insider Activity at Lancaster Colony

In other news, Director Elliot K. Fullen bought 3,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were acquired at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the purchase, the director now directly owns 5,298 shares of the company’s stock, valued at approximately $895,362. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 29.60% of the stock is owned by corporate insiders.

Lancaster Colony Price Performance

Shares of LANC stock opened at $178.72 on Friday. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 37.08 and a beta of 0.35. The company’s fifty day simple moving average is $183.03 and its two-hundred day simple moving average is $188.93. Lancaster Colony Co. has a 1 year low of $160.01 and a 1 year high of $215.31.

Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.06). Lancaster Colony had a return on equity of 19.61% and a net margin of 8.47%. The company had revenue of $452.83 million for the quarter, compared to analysts’ expectations of $462.70 million. Equities research analysts anticipate that Lancaster Colony Co. will post 6.96 EPS for the current year.

Lancaster Colony Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a $0.90 dividend. The ex-dividend date is Monday, September 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.01%. Lancaster Colony’s dividend payout ratio (DPR) is currently 74.69%.

Lancaster Colony Profile

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.