Wolff Financial Management LLC Purchases 695 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Wolff Financial Management LLC boosted its position in Lancaster Colony Co. (NASDAQ:LANC) by 3.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 23,799 shares of the company’s stock after purchasing an additional 695 shares during the period. Lancaster Colony comprises 1.1% of Wolff Financial Management LLC’s investment portfolio, making the stock its 16th biggest position. Wolff Financial Management LLC’s holdings in Lancaster Colony were worth $4,121,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in shares of Lancaster Colony by 8.7% during the 2nd quarter. American Century Companies Inc. now owns 11,564 shares of the company’s stock worth $2,185,000 after purchasing an additional 925 shares during the period. Hsbc Holdings PLC boosted its stake in Lancaster Colony by 62.9% in the second quarter. Hsbc Holdings PLC now owns 2,617 shares of the company’s stock valued at $493,000 after acquiring an additional 1,010 shares during the last quarter. Marshall Wace LLP grew its position in shares of Lancaster Colony by 305.4% during the 2nd quarter. Marshall Wace LLP now owns 9,360 shares of the company’s stock valued at $1,769,000 after acquiring an additional 7,051 shares during the period. Squarepoint Ops LLC increased its stake in shares of Lancaster Colony by 55.7% during the 2nd quarter. Squarepoint Ops LLC now owns 32,519 shares of the company’s stock worth $6,145,000 after purchasing an additional 11,631 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Lancaster Colony in the 2nd quarter worth approximately $74,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Lancaster Colony Stock Performance

NASDAQ:LANC opened at $172.00 on Friday. The business’s fifty day moving average is $179.20 and its 200 day moving average is $181.63. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 29.76 and a beta of 0.36. Lancaster Colony Co. has a 52-week low of $163.20 and a 52-week high of $215.31.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 posted $1.70 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities analysts predict that Lancaster Colony Co. will post 6.7 EPS for the current fiscal year.

Lancaster Colony Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, December 5th were paid a dividend of $0.95 per share. This is a positive change from Lancaster Colony’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, December 5th. This represents a $3.80 annualized dividend and a yield of 2.21%. Lancaster Colony’s dividend payout ratio (DPR) is currently 65.74%.

Analyst Ratings Changes

LANC has been the topic of several research reports. 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 research note on Friday, November 1st. Benchmark restated a “hold” rating on shares of Lancaster Colony in a research note on Tuesday, November 19th. Finally, Stephens reiterated an “equal weight” rating and set a $196.00 target price on shares of Lancaster Colony in a research report on Tuesday, November 19th.

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.