Ameritas Investment Partners Inc. Boosts Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Ameritas Investment Partners Inc. boosted its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,017 shares of the company’s stock after acquiring an additional 128 shares during the period. Ameritas Investment Partners Inc. owned about 0.06% of Lancaster Colony worth $3,027,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in shares of Lancaster Colony in the second quarter valued at $28,000. GAMMA Investing LLC raised its stake in Lancaster Colony by 115.9% in the 2nd quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock valued at $33,000 after purchasing an additional 95 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Lancaster Colony in the 2nd quarter valued at about $38,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Lancaster Colony during the 4th quarter worth about $67,000. Finally, Clarity Asset Management Inc. purchased a new stake in shares of Lancaster Colony during the fourth quarter worth about $70,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Insider Transactions at Lancaster Colony

In other Lancaster Colony news, Director Elliot K. Fullen purchased 3,000 shares of Lancaster Colony stock in a transaction on Tuesday, August 27th. The shares were purchased at an average cost of $169.00 per share, with a total value of $507,000.00. Following the completion of the transaction, the director now directly owns 5,298 shares in the company, valued at approximately $895,362. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 29.60% of the company’s stock.

Lancaster Colony Stock Up 0.4 %

NASDAQ:LANC opened at $181.80 on Friday. The company has a market cap of $5.00 billion, a P/E ratio of 37.72 and a beta of 0.35. The firm’s 50 day moving average is $183.90 and its two-hundred day moving average is $189.72. Lancaster Colony Co. has a fifty-two week low of $160.01 and a fifty-two week high of $215.31.

Lancaster Colony (NASDAQ:LANC) last issued its earnings results on Thursday, August 22nd. The company reported $1.35 earnings per share 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 firm had revenue of $452.83 million during the quarter, compared to analysts’ expectations of $462.70 million. Research analysts forecast that Lancaster Colony Co. will post 6.96 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

The company 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. This represents a $3.60 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, September 9th. Lancaster Colony’s dividend payout ratio is currently 74.69%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LANC. Benchmark reissued a “hold” rating on shares of Lancaster Colony in a research note on Wednesday. Stephens reduced their price target on Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd. StockNews.com cut Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Loop Capital dropped their target price on Lancaster Colony from $236.00 to $232.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Lancaster Colony presently 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.