Lancaster Colony Co. (NASDAQ:LANC) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 1.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 487,615 shares of the company’s stock after selling 5,390 shares during the period. Thrivent Financial for Lutherans owned approximately 1.77% of Lancaster Colony worth $92,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in LANC. Opal Wealth Advisors LLC acquired a new stake in Lancaster Colony in the 2nd quarter valued at approximately $28,000. GAMMA Investing LLC increased its holdings 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. acquired a new stake in Lancaster Colony in the 2nd quarter valued at approximately $38,000. Brown Brothers Harriman & Co. acquired a new stake in Lancaster Colony in the 4th quarter valued at approximately $67,000. Finally, Clarity Asset Management Inc. acquired a new stake in Lancaster Colony in the 4th quarter valued at approximately $70,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Loop Capital dropped their target price on shares of Lancaster Colony from $236.00 to $232.00 and set a “buy” rating for the company in a report on Monday, August 26th. StockNews.com downgraded shares of Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Stephens dropped their price target on shares of 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. Finally, Benchmark restated a “hold” rating on shares of Lancaster Colony in a research note on Wednesday. Five investment 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.com, the company has an average rating of “Hold” and an average target price of $195.75.

Insider Transactions at Lancaster Colony

In other news, Director Elliot K. Fullen acquired 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average cost of $169.00 per share, with a total value of $507,000.00. Following the transaction, the director now owns 5,298 shares in the company, valued at $895,362. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate 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 fifty day simple moving average of $183.90 and a two-hundred day simple moving average of $189.72. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 37.72 and a beta of 0.35. Lancaster Colony Co. has a 52 week low of $160.01 and a 52 week high of $215.31.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly 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). The business had revenue of $452.83 million during the quarter, compared to analyst estimates of $462.70 million. Lancaster Colony had a return on equity of 19.61% and a net margin of 8.47%. On average, analysts expect that Lancaster Colony Co. will post 6.96 EPS for the current year.

Lancaster Colony Dividend Announcement

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 given a dividend of $0.90 per share. The ex-dividend date is Monday, September 9th. This represents a $3.60 annualized dividend and a dividend yield of 1.98%. Lancaster Colony’s dividend payout ratio (DPR) is currently 74.69%.

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.