Lancaster Colony Co. (NASDAQ:LANC) Shares Bought by Inspire Investing LLC

Inspire Investing LLC boosted its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 8.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,863 shares of the company’s stock after buying an additional 141 shares during the quarter. Inspire Investing LLC’s holdings in Lancaster Colony were worth $352,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. XTX Topco Ltd acquired a new position in shares of Lancaster Colony in the 2nd quarter valued at about $496,000. Hsbc Holdings PLC lifted its stake in shares of Lancaster Colony by 62.9% in the second quarter. Hsbc Holdings PLC now owns 2,617 shares of the company’s stock worth $493,000 after buying an additional 1,010 shares during the last quarter. Blair William & Co. IL boosted its holdings in Lancaster Colony by 2,386.6% during the second quarter. Blair William & Co. IL now owns 172,075 shares of the company’s stock valued at $32,517,000 after acquiring an additional 165,155 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Lancaster Colony by 11.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,267 shares of the company’s stock worth $617,000 after buying an additional 326 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Lancaster Colony by 5.5% in the second quarter. Renaissance Technologies LLC now owns 306,080 shares of the company’s stock worth $57,840,000 after acquiring an additional 15,962 shares during the last quarter. Institutional investors own 66.44% of the company’s stock.

Analysts Set New Price Targets

LANC has been the topic of several recent research reports. Loop Capital decreased their target price on shares of Lancaster Colony from $236.00 to $232.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Stephens dropped their target price on Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating for the company in a report 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. Finally, Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research note on Wednesday, September 18th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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 stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the completion of the transaction, the director now directly owns 5,298 shares in the company, valued at $895,362. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 29.60% of the stock is currently owned by corporate insiders.

Lancaster Colony Stock Performance

Shares of NASDAQ:LANC opened at $181.80 on Monday. The business has a fifty day moving average of $183.90 and a 200-day moving average of $189.62. Lancaster Colony Co. has a twelve month low of $160.01 and a twelve month high of $215.31. The firm has a market cap of $5.00 billion, a PE ratio of 37.72 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last announced 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 company had revenue of $452.83 million for 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 anticipate that Lancaster Colony Co. will post 6.96 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The company also recently announced 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 of this dividend 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 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.