First Hawaiian Bank Sells 91 Shares of Lancaster Colony Co. (NASDAQ:LANC)

First Hawaiian Bank trimmed its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 3.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,928 shares of the company’s stock after selling 91 shares during the period. First Hawaiian Bank’s holdings in Lancaster Colony were worth $608,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. UBS Group AG lifted its holdings in shares of Lancaster Colony by 34.5% in the 3rd quarter. UBS Group AG now owns 43,722 shares of the company’s stock worth $7,215,000 after acquiring an additional 11,208 shares during the last quarter. Deutsche Bank AG raised its position in Lancaster Colony by 13.1% in the 3rd quarter. Deutsche Bank AG now owns 10,406 shares of the company’s stock worth $1,717,000 after purchasing an additional 1,203 shares during the period. Rhumbline Advisers lifted its stake in Lancaster Colony by 7.9% in the third quarter. Rhumbline Advisers now owns 77,821 shares of the company’s stock worth $12,843,000 after purchasing an additional 5,675 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in Lancaster Colony during the third quarter valued at about $340,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Lancaster Colony by 53.3% during the third quarter. Envestnet Asset Management Inc. now owns 105,454 shares of the company’s stock valued at $17,403,000 after buying an additional 36,671 shares during the last quarter. Institutional investors own 66.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LANC. Stephens reissued an “equal weight” rating and issued a $218.00 target price on shares of Lancaster Colony in a research note on Friday, May 3rd. StockNews.com raised Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $198.75.

Lancaster Colony Price Performance

LANC opened at $187.47 on Friday. Lancaster Colony Co. has a one year low of $158.88 and a one year high of $215.31. The business has a 50 day simple moving average of $188.69 and a two-hundred day simple moving average of $187.31. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 38.89 and a beta of 0.37.

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

Lancaster Colony Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Friday, June 7th. Lancaster Colony’s payout ratio is 74.69%.

Lancaster Colony 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.