Allspring Global Investments Holdings LLC Purchases 1,664 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Allspring Global Investments Holdings LLC lifted its position in Lancaster Colony Co. (NASDAQ:LANC) by 13.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,778 shares of the company’s stock after purchasing an additional 1,664 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.05% of Lancaster Colony worth $2,861,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mesirow Institutional Investment Management Inc. increased its stake in Lancaster Colony by 72.6% in the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 86,280 shares of the company’s stock worth $14,356,000 after acquiring an additional 36,291 shares during the last quarter. Foguth Wealth Management LLC. bought a new position in shares of Lancaster Colony in the first quarter worth approximately $862,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Lancaster Colony in the fourth quarter valued at approximately $2,445,000. Boston Trust Walden Corp lifted its position in Lancaster Colony by 54.5% during the fourth quarter. Boston Trust Walden Corp now owns 319,366 shares of the company’s stock valued at $53,139,000 after purchasing an additional 112,696 shares during the last quarter. Finally, Fortis Group Advisors LLC purchased a new position in Lancaster Colony in the 3rd quarter worth approximately $1,388,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Lancaster Colony Stock Performance

Shares of Lancaster Colony stock opened at $190.65 on Wednesday. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 39.55 and a beta of 0.37. The company has a fifty day moving average of $188.80 and a 200-day moving average of $188.54. Lancaster Colony Co. has a 52-week low of $158.88 and a 52-week high of $215.31.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.02. Lancaster Colony had a return on equity of 18.96% and a net margin of 7.10%. The firm had revenue of $471.40 million for the quarter, compared to analysts’ expectations of $467.90 million. During the same period last year, the firm earned $0.89 earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities research analysts forecast that Lancaster Colony Co. will post 6.45 earnings per share for the current fiscal year.

Lancaster Colony Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a $0.90 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.60 annualized dividend and a yield of 1.89%. Lancaster Colony’s payout ratio is currently 74.69%.

Wall Street Analyst Weigh In

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

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.