XTX Topco Ltd Takes Position in Lancaster Colony Co. (NASDAQ:LANC)

XTX Topco Ltd bought a new position in Lancaster Colony Co. (NASDAQ:LANC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,624 shares of the company’s stock, valued at approximately $496,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Lancaster Colony during the 2nd quarter worth about $28,000. GAMMA Investing LLC grew 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 buying an additional 95 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Lancaster Colony in the second quarter worth $38,000. Brown Brothers Harriman & Co. purchased a new position in shares of Lancaster Colony in the 4th quarter valued at $67,000. Finally, Clarity Asset Management Inc. acquired a new position in shares of Lancaster Colony during the 4th quarter valued at $70,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Insider Transactions at Lancaster Colony

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

Lancaster Colony Stock Down 0.7 %

Shares of NASDAQ LANC opened at $178.80 on Wednesday. Lancaster Colony Co. has a fifty-two week low of $160.01 and a fifty-two week high of $215.31. The business has a 50 day moving average price of $183.57 and a two-hundred day moving average price of $189.25. The firm has a market cap of $4.92 billion, a PE ratio of 37.10 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Thursday, August 22nd. The company reported $1.35 earnings per share 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 earnings per share for the current year.

Lancaster Colony Dividend Announcement

The business 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 is Monday, September 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.01%. Lancaster Colony’s dividend payout ratio (DPR) is presently 74.69%.

Wall Street Analysts Forecast Growth

LANC has been the subject of several recent research reports. Loop Capital lowered their price target on Lancaster Colony from $236.00 to $232.00 and set a “buy” rating for the company in a report on Monday, August 26th. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a report on Wednesday, September 18th. Stephens decreased their price target 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. Finally, StockNews.com lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $195.75.

About Lancaster Colony

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.