MQS Management LLC Acquires New Position in Lancaster Colony Co. (NASDAQ:LANC)

MQS Management LLC acquired a new stake in Lancaster Colony Co. (NASDAQ:LANC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,946 shares of the company’s stock, valued at approximately $344,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Consolidated Planning Corp boosted its stake in shares of Lancaster Colony by 4.5% in the second quarter. Consolidated Planning Corp now owns 1,232 shares of the company’s stock valued at $233,000 after buying an additional 53 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in Lancaster Colony by 2.3% in the third quarter. Asset Management One Co. Ltd. now owns 2,506 shares of the company’s stock valued at $442,000 after acquiring an additional 57 shares during the period. Creative Financial Designs Inc. ADV boosted its position in shares of Lancaster Colony by 1.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,805 shares of the company’s stock worth $672,000 after purchasing an additional 67 shares in the last quarter. AlphaMark Advisors LLC grew its stake in shares of Lancaster Colony by 5.2% during the 3rd quarter. AlphaMark Advisors LLC now owns 1,686 shares of the company’s stock worth $298,000 after purchasing an additional 83 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Lancaster Colony by 0.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 15,179 shares of the company’s stock valued at $2,868,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 66.44% of the company’s stock.

Insider Activity at Lancaster Colony

In other Lancaster Colony news, Director Elliot K. Fullen bought 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the completion of the purchase, the director now owns 5,298 shares of the company’s stock, valued at $895,362. This trade represents a 130.55 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 29.50% of the company’s stock.

Lancaster Colony Stock Performance

LANC stock opened at $184.18 on Friday. The stock’s 50 day moving average price is $180.77 and its 200 day moving average price is $185.06. The firm has a market cap of $5.08 billion, a P/E ratio of 32.07 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 posted its quarterly earnings data on Thursday, October 31st. The company reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.08). Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The company had revenue of $466.56 million for the quarter, compared to analyst estimates of $468.36 million. During the same period in the previous year, the business earned $1.70 EPS. The firm’s revenue was up 1.1% on a year-over-year basis. On average, research analysts predict that Lancaster Colony Co. will post 6.72 earnings per share for the current year.

Lancaster Colony Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Thursday, December 5th. This is a positive change from Lancaster Colony’s previous quarterly dividend of $0.90. Lancaster Colony’s payout ratio is currently 62.28%.

Wall Street Analyst Weigh In

A number of analysts recently commented on LANC shares. StockNews.com downgraded 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 Lancaster Colony from $200.00 to $196.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a report on Friday, November 1st. Finally, Loop Capital lowered their target price on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $193.50.

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.