Orion Portfolio Solutions LLC Lowers Holdings in Lancaster Colony Co. (NASDAQ:LANC)

by · The Cerbat Gem

Orion Portfolio Solutions LLC trimmed its position in shares of Lancaster Colony Co. (NASDAQ:LANC – Free Report) by 3.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 8,585 shares of the company’s stock after selling 340 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Lancaster Colony were worth $1,486,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LANC. Eagle Bay Advisors LLC purchased a new stake in shares of Lancaster Colony during the fourth quarter valued at approximately $38,000. GAMMA Investing LLC boosted its stake in Lancaster Colony by 56.4% during the 4th quarter. GAMMA Investing LLC now owns 280 shares of the company’s stock valued at $48,000 after purchasing an additional 101 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Lancaster Colony by 1,078.9% in 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. KBC Group NV raised its stake in shares of Lancaster Colony by 80.4% in the fourth quarter. KBC Group NV now owns 893 shares of the company’s stock worth $155,000 after purchasing an additional 398 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Lancaster Colony by 62.1% during the fourth quarter. Blue Trust Inc. now owns 932 shares of the company’s stock valued at $165,000 after purchasing an additional 357 shares in the last quarter. 66.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LANC has been the subject of a number of recent analyst reports. DA Davidson boosted their target price on Lancaster Colony from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. StockNews.com upgraded shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Stephens raised their target price on shares of Lancaster Colony from $196.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $211.33.

Check Out Our Latest Stock Analysis on LANC

Lancaster Colony Stock Up 0.9 %

NASDAQ LANC opened at $175.07 on Friday. Lancaster Colony Co. has a twelve month low of $163.20 and a twelve month high of $206.67. The business has a 50-day moving average price of $182.87 and a 200-day moving average price of $181.22. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 30.77 and a beta of 0.31.

Lancaster Colony (NASDAQ:LANC – Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.28. The company had revenue of $509.30 million for the quarter, compared to the consensus estimate of $495.43 million. Lancaster Colony had a net margin of 8.26% and a return on equity of 19.51%. Lancaster Colony’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.87 EPS. Research analysts expect that Lancaster Colony Co. will post 6.8 EPS for the current fiscal year.

Lancaster Colony Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were issued a $0.95 dividend. The ex-dividend date was Friday, March 7th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.17%. Lancaster Colony’s dividend payout ratio (DPR) is presently 66.78%.

Insider Activity

In other Lancaster Colony news, CEO David Alan Ciesinski sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,250,230.00. Following the sale, the chief executive officer now directly owns 54,644 shares of the company’s stock, valued at $10,447,386.36. The trade was a 23.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 29.50% of the company’s stock.

Lancaster Colony 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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