Guggenheim Capital LLC Sells 512 Shares of Lancaster Colony Co. (NASDAQ:LANC)

by · The Cerbat Gem

Guggenheim Capital LLC decreased its stake in shares of Lancaster Colony Co. (NASDAQ:LANC – Free Report) by 21.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,864 shares of the company’s stock after selling 512 shares during the quarter. Guggenheim Capital LLC’s holdings in Lancaster Colony were worth $323,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in LANC. Barclays PLC boosted its position in shares of Lancaster Colony by 125.5% during the 3rd quarter. Barclays PLC now owns 44,189 shares of the company’s stock valued at $7,803,000 after acquiring an additional 24,589 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Lancaster Colony during the 3rd quarter valued at about $272,000. JPMorgan Chase & Co. boosted its position in shares of Lancaster Colony by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 61,579 shares of the company’s stock valued at $10,873,000 after acquiring an additional 1,132 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of 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 acquiring an additional 101 shares in the last quarter. Finally, First Hawaiian Bank boosted its position in shares of Lancaster Colony by 15.4% during the 4th quarter. First Hawaiian Bank now owns 3,337 shares of the company’s stock valued at $578,000 after acquiring an additional 445 shares in the last quarter. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Lancaster Colony Trading Down 0.1 %

Shares of LANC stock opened at $190.21 on Monday. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 33.43 and a beta of 0.38. The firm’s 50 day moving average is $183.93 and its 200-day moving average is $181.93. Lancaster Colony Co. has a 1 year low of $163.20 and a 1 year high of $202.63.

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

Lancaster Colony Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Friday, March 7th. Lancaster Colony’s dividend payout ratio is 66.78%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Stephens lifted their target price on shares of Lancaster Colony from $196.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. DA Davidson boosted their price target on shares of Lancaster Colony from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, StockNews.com upgraded shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $211.33.

Check Out Our Latest Analysis on LANC

Insiders Place Their Bets

In other news, CEO David Alan Ciesinski sold 17,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $191.19, for a total value of $3,250,230.00. Following the transaction, the chief executive officer now owns 54,644 shares of the company’s stock, valued at $10,447,386.36. This represents a 23.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company 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.

See Also

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