Significant Wealth Partners LLC Makes New $315,000 Investment in Lancaster Colony Co. (NASDAQ:LANC)

Significant Wealth Partners LLC acquired a new stake in Lancaster Colony Co. (NASDAQ:LANC) in the first quarter, HoldingsChannel.com reports. The firm acquired 1,519 shares of the company’s stock, valued at approximately $315,000.

Several other large investors have also modified their holdings of LANC. Brown Brothers Harriman & Co. acquired a new position in Lancaster Colony in the 4th quarter valued at about $67,000. Clarity Asset Management Inc. purchased a new position in shares of Lancaster Colony in the 4th quarter valued at approximately $70,000. Principal Securities Inc. acquired a new position in shares of Lancaster Colony in the fourth quarter valued at approximately $129,000. UMB Bank n.a. raised its stake in shares of Lancaster Colony by 11.8% during the fourth quarter. UMB Bank n.a. now owns 894 shares of the company’s stock worth $149,000 after purchasing an additional 94 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its holdings in shares of Lancaster Colony by 92,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 928 shares of the company’s stock valued at $166,000 after acquiring an additional 927 shares in the last quarter. 66.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. StockNews.com raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Stephens reissued an “equal weight” rating and set a $218.00 target price on shares of Lancaster Colony in a research note on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Lancaster Colony presently has an average rating of “Hold” and an average price target of $198.75.

Lancaster Colony Stock Performance

LANC stock traded up $0.63 during trading on Monday, reaching $186.98. 56,902 shares of the company were exchanged, compared to its average volume of 124,346. Lancaster Colony Co. has a 52-week low of $158.88 and a 52-week high of $215.31. The company has a market cap of $5.15 billion, a P/E ratio of 38.56 and a beta of 0.37. The stock’s 50 day moving average price is $188.29 and its 200 day moving average price is $189.81.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.42 by $0.02. Lancaster Colony had a return on equity of 18.96% and a net margin of 7.10%. The business had revenue of $471.40 million for the quarter, compared to analyst estimates of $467.90 million. During the same quarter in the previous year, the company earned $0.89 EPS. The company’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities research analysts forecast that Lancaster Colony Co. will post 6.45 EPS for the current year.

Lancaster Colony Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, June 7th. Lancaster Colony’s dividend payout ratio is currently 74.69%.

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.