Mutual of America Capital Management LLC Sells 260 Shares of Lancaster Colony Corporation (NASDAQ:LANC)

Mutual of America Capital Management LLC lessened its position in shares of Lancaster Colony Corporation (NASDAQ:LANC) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,932 shares of the company’s stock after selling 260 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Lancaster Colony were worth $1,738,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in Lancaster Colony during the 1st quarter valued at approximately $26,000. Farther Finance Advisors LLC increased its stake in Lancaster Colony by 1,078.9% during the 4th quarter. Farther Finance Advisors LLC now owns 448 shares of the company’s stock valued at $78,000 after purchasing an additional 410 shares in the last quarter. Blue Trust Inc. increased its stake in Lancaster Colony by 20.9% during the 1st quarter. Blue Trust Inc. now owns 602 shares of the company’s stock valued at $105,000 after purchasing an additional 104 shares in the last quarter. Covestor Ltd increased its stake in Lancaster Colony by 48.4% during the 4th quarter. Covestor Ltd now owns 724 shares of the company’s stock valued at $126,000 after purchasing an additional 236 shares in the last quarter. Finally, Significant Wealth Partners LLC acquired a new position in Lancaster Colony during the 1st quarter valued at approximately $204,000. Institutional investors own 66.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LANC. Benchmark upgraded 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 note on Thursday, May 1st. Wall Street Zen lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Finally, Stephens cut 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 note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $203.50.

Lancaster Colony Price Performance

LANC stock opened at $172.77 on Monday. The firm’s fifty day simple moving average is $169.41 and its 200-day simple moving average is $176.01. The company has a market capitalization of $4.76 billion, a P/E ratio of 28.09 and a beta of 0.47. Lancaster Colony Corporation has a 12 month low of $156.14 and a 12 month high of $202.63.

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

Lancaster Colony Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Friday, June 6th. Lancaster Colony’s dividend payout ratio (DPR) is currently 61.79%.

Lancaster Colony Company 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.