PNC Financial Services Group Inc. Has $438,000 Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

PNC Financial Services Group Inc. trimmed its position in Lancaster Colony Co. (NASDAQ:LANC) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,633 shares of the company’s stock after selling 76 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Lancaster Colony were worth $438,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC lifted its position in shares of Lancaster Colony by 396.9% in the third quarter. FMR LLC now owns 14,419 shares of the company’s stock worth $2,380,000 after purchasing an additional 11,517 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Lancaster Colony by 10.3% in the third quarter. Stifel Financial Corp now owns 17,724 shares of the company’s stock worth $2,925,000 after purchasing an additional 1,657 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Lancaster Colony by 9.1% in the third quarter. Federated Hermes Inc. now owns 2,854 shares of the company’s stock worth $471,000 after purchasing an additional 239 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Lancaster Colony by 87.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 3,245 shares of the company’s stock worth $536,000 after purchasing an additional 1,515 shares in the last quarter. Finally, Bank of Nova Scotia lifted its position in shares of Lancaster Colony by 5.4% in the third quarter. Bank of Nova Scotia now owns 2,661 shares of the company’s stock worth $439,000 after purchasing an additional 137 shares in the last quarter. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Lancaster Colony Stock Performance

Shares of LANC opened at $188.97 on Friday. The firm has a market cap of $5.20 billion, a PE ratio of 39.21 and a beta of 0.37. The firm’s 50 day moving average price is $188.67 and its 200 day moving average price is $188.01. Lancaster Colony Co. has a twelve month low of $158.88 and a twelve month high of $215.31.

Lancaster Colony (NASDAQ:LANC) last released its quarterly 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. Lancaster Colony had a net margin of 7.10% and a return on equity of 18.96%. The company had revenue of $471.40 million for the quarter, compared to analyst estimates of $467.90 million. During the same quarter last year, the firm posted $0.89 earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Lancaster Colony Co. will post 6.45 earnings per share for the current fiscal 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 1.91%. The ex-dividend date was Friday, June 7th. Lancaster Colony’s dividend 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.