J. W. Coons Advisors LLC Grows Position in Lancaster Colony Co. (NASDAQ:LANC)

J. W. Coons Advisors LLC lifted its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC) by 74.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,979 shares of the company’s stock after purchasing an additional 2,132 shares during the quarter. J. W. Coons Advisors LLC’s holdings in Lancaster Colony were worth $879,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new position in Lancaster Colony in the 3rd quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new position in Lancaster Colony in the second quarter valued at $28,000. GAMMA Investing LLC lifted its stake in Lancaster Colony by 115.9% during the second quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock worth $33,000 after purchasing an additional 95 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Lancaster Colony in the 2nd quarter worth about $38,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Lancaster Colony during the 2nd quarter valued at about $74,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Insiders Place Their Bets

In related news, Director Elliot K. Fullen bought 3,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average cost of $169.00 per share, with a total value of $507,000.00. Following the completion of the purchase, the director now owns 5,298 shares in the company, valued at approximately $895,362. The trade was a 130.55 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 29.50% of the company’s stock.

Analyst Upgrades and Downgrades

LANC has been the subject of a number of recent research reports. Loop Capital dropped their target price on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research report on Friday, November 1st. StockNews.com lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Stephens lowered their price target on shares of Lancaster Colony from $200.00 to $196.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Finally, Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a research note on Friday, November 1st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $193.50.

Lancaster Colony Price Performance

Shares of NASDAQ:LANC opened at $180.75 on Monday. The stock’s 50-day moving average is $180.97 and its 200 day moving average is $184.95. The company has a market cap of $4.98 billion, a PE ratio of 31.27 and a beta of 0.35. Lancaster Colony Co. has a 1 year low of $161.54 and a 1 year high of $215.31.

Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.08). Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The firm had revenue of $466.56 million during the quarter, compared to analysts’ expectations of $468.36 million. During the same period in the previous year, the company earned $1.70 earnings per share. Lancaster Colony’s revenue for the quarter was up 1.1% on a year-over-year basis. Analysts expect that Lancaster Colony Co. will post 6.72 EPS for the current fiscal year.

Lancaster Colony Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, December 5th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.80 annualized dividend and a yield of 2.10%. This is a positive change from Lancaster Colony’s previous quarterly dividend of $0.90. Lancaster Colony’s payout ratio is presently 62.28%.

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.