Blue Trust Inc. Buys 104 Shares of Lancaster Colony Corporation (NASDAQ:LANC)

Blue Trust Inc. lifted its stake in shares of Lancaster Colony Corporation (NASDAQ:LANC) by 20.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 602 shares of the company’s stock after purchasing an additional 104 shares during the quarter. Blue Trust Inc.’s holdings in Lancaster Colony were worth $105,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in LANC. Opal Wealth Advisors LLC bought a new position in shares of Lancaster Colony during the 1st quarter worth about $26,000. Farther Finance Advisors LLC boosted its position in shares of Lancaster Colony by 1,078.9% during the 4th quarter. Farther Finance Advisors LLC now owns 448 shares of the company’s stock worth $78,000 after purchasing an additional 410 shares in the last quarter. Covestor Ltd boosted its position in shares of Lancaster Colony by 48.4% during the 4th quarter. Covestor Ltd now owns 724 shares of the company’s stock worth $126,000 after purchasing an additional 236 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Lancaster Colony during the 4th quarter worth about $206,000. Finally, Tower Research Capital LLC TRC lifted its position in Lancaster Colony by 12.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,235 shares of the company’s stock valued at $214,000 after acquiring an additional 137 shares in the last quarter. Institutional investors own 66.44% of the company’s stock.

Lancaster Colony Stock Performance

NASDAQ LANC opened at $169.20 on Thursday. Lancaster Colony Corporation has a 52-week low of $156.14 and a 52-week high of $202.63. The company has a market capitalization of $4.66 billion, a P/E ratio of 27.51 and a beta of 0.47. The company has a fifty day moving average of $171.00 and a 200-day moving average of $177.27.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.07). Lancaster Colony had a return on equity of 19.30% and a net margin of 8.99%. The company had revenue of $457.84 million for the quarter, compared to the consensus estimate of $483.47 million. During the same period in the prior year, the firm posted $1.44 earnings per share. The business’s revenue was down 2.9% on a year-over-year basis. As a group, analysts forecast that Lancaster Colony Corporation will post 6.8 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, June 6th. Lancaster Colony’s dividend payout ratio is presently 61.79%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Benchmark raised shares of Lancaster Colony from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research report on Thursday, May 1st. Stephens dropped their price target on shares of Lancaster Colony from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen cut shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $203.50.

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.