Benjamin Edwards Inc. Has $311,000 Stake in Lancaster Colony Co. (NASDAQ:LANC)

Benjamin Edwards Inc. trimmed its position in Lancaster Colony Co. (NASDAQ:LANC) by 3.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,648 shares of the company’s stock after selling 57 shares during the quarter. Benjamin Edwards Inc.’s holdings in Lancaster Colony were worth $311,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position 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% during the second quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock worth $33,000 after acquiring an additional 95 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Lancaster Colony during the second quarter worth $38,000. Brown Brothers Harriman & Co. acquired a new position in Lancaster Colony during the fourth quarter worth $67,000. Finally, Clarity Asset Management Inc. acquired a new position in Lancaster Colony during the fourth quarter worth $70,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Elliot K. Fullen acquired 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the completion of the acquisition, the director now directly owns 5,298 shares in the company, valued at approximately $895,362. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 29.60% of the company’s stock.

Lancaster Colony Stock Up 0.4 %

Shares of NASDAQ LANC opened at $181.80 on Friday. Lancaster Colony Co. has a twelve month low of $160.01 and a twelve month high of $215.31. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 37.72 and a beta of 0.35. The company’s fifty day moving average is $183.90 and its 200-day moving average is $189.72.

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

Lancaster Colony Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Monday, September 9th. Lancaster Colony’s payout ratio is currently 74.69%.

Wall Street Analysts Forecast Growth

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