Marshall Wace LLP Raises Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Marshall Wace LLP grew its holdings in Lancaster Colony Co. (NASDAQ:LANC) by 305.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,360 shares of the company’s stock after acquiring an additional 7,051 shares during the period. Marshall Wace LLP’s holdings in Lancaster Colony were worth $1,769,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Lancaster Colony by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,186,162 shares of the company’s stock worth $453,913,000 after purchasing an additional 85,658 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Lancaster Colony by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 520,335 shares of the company’s stock worth $98,326,000 after buying an additional 25,072 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Lancaster Colony by 5.5% during 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. Bank of New York Mellon Corp grew its stake in Lancaster Colony by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 241,646 shares of the company’s stock valued at $45,664,000 after acquiring an additional 4,327 shares in the last quarter. Finally, Blair William & Co. IL increased its holdings in Lancaster Colony by 2,386.6% in the 2nd 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 last quarter. Institutional investors own 66.44% of the company’s stock.

Insider Transactions at Lancaster Colony

In other news, Director Elliot K. Fullen purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the acquisition, the director now owns 5,298 shares of the company’s stock, valued at approximately $895,362. This trade represents a 100.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 29.60% of the company’s stock.

Lancaster Colony Price Performance

Shares of NASDAQ LANC opened at $176.91 on Friday. The stock has a market capitalization of $4.87 billion, a P/E ratio of 36.70 and a beta of 0.35. Lancaster Colony Co. has a 1-year low of $160.01 and a 1-year high of $215.31. The business’s 50 day moving average is $182.04 and its two-hundred day moving average is $188.04.

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 the consensus estimate of $1.41 by ($0.06). The company had revenue of $452.83 million for the quarter, compared to analysts’ expectations of $462.70 million. Lancaster Colony had a net margin of 8.47% and a return on equity of 19.61%. As a group, equities research analysts anticipate that Lancaster Colony Co. will post 6.96 earnings per share for the current fiscal year.

Lancaster Colony Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were issued a $0.90 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $3.60 annualized dividend and a dividend yield of 2.03%. Lancaster Colony’s dividend payout ratio (DPR) is presently 74.69%.

Analyst Ratings Changes

LANC has been the subject of a number of research analyst reports. Stephens cut their price objective on Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd. StockNews.com cut Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a report on Wednesday, September 18th. Finally, Loop Capital cut 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. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.