Brown Brothers Harriman & Co. Has $93,000 Stake in Lancaster Colony Co. (NASDAQ:LANC)

Brown Brothers Harriman & Co. lessened its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 14.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 490 shares of the company’s stock after selling 80 shares during the period. Brown Brothers Harriman & Co.’s holdings in Lancaster Colony were worth $93,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Lancaster Colony in the 2nd quarter valued at $28,000. GAMMA Investing LLC boosted its stake in shares of Lancaster Colony by 115.9% during the second quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock valued at $33,000 after purchasing an additional 95 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Lancaster Colony during the second quarter worth about $38,000. Clarity Asset Management Inc. bought a new position in Lancaster Colony in the 4th quarter valued at approximately $70,000. Finally, Covestor Ltd boosted its position in Lancaster Colony by 27.5% during the 1st quarter. Covestor Ltd now owns 551 shares of the company’s stock worth $115,000 after buying an additional 119 shares during the period. Institutional investors and hedge funds own 66.44% of the company’s stock.

Lancaster Colony Trading Down 0.2 %

Shares of Lancaster Colony stock opened at $179.29 on Thursday. The company has a market cap of $4.94 billion, a P/E ratio of 37.20 and a beta of 0.35. The business has a 50-day moving average price of $184.07 and a two-hundred day moving average price of $190.06. Lancaster Colony Co. has a 1-year low of $160.01 and a 1-year high of $215.31.

Lancaster Colony (NASDAQ:LANC) last released its earnings results on Thursday, August 22nd. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.06). Lancaster Colony had a return on equity of 19.61% and a net margin of 8.47%. The business had revenue of $452.83 million for the quarter, compared to analyst estimates of $462.70 million. Equities research analysts forecast that Lancaster Colony Co. will post 6.96 EPS for the current fiscal year.

Lancaster Colony Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be paid a $0.90 dividend. The ex-dividend date is Monday, September 9th. This represents a $3.60 annualized dividend and a dividend yield of 2.01%. Lancaster Colony’s dividend payout ratio is currently 74.69%.

Insider Activity at Lancaster Colony

In related news, Director Elliot K. Fullen acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were bought at an average price of $169.00 per share, with a total value of $507,000.00. Following the transaction, the director now directly owns 5,298 shares of the company’s stock, valued at $895,362. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 29.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LANC has been the subject of several recent research reports. Benchmark restated a “hold” rating on shares of Lancaster Colony in a research report on Wednesday. Stephens cut their target price on Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd. StockNews.com cut Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Loop Capital cut their price objective on Lancaster Colony from $236.00 to $232.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lancaster Colony has an average rating of “Hold” and a consensus price target of $195.75.

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.