Creative Planning Sells 358 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Creative Planning lowered its stake in Lancaster Colony Co. (NASDAQ:LANC) by 8.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,780 shares of the company’s stock after selling 358 shares during the quarter. Creative Planning’s holdings in Lancaster Colony were worth $667,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Lancaster Colony by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,186,162 shares of the company’s stock worth $453,913,000 after buying an additional 85,658 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Lancaster Colony by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 520,335 shares of the company’s stock worth $98,326,000 after purchasing an additional 25,072 shares in the last quarter. Renaissance Technologies LLC grew 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 purchasing an additional 15,962 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of 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 worth $45,664,000 after purchasing an additional 4,327 shares in the last quarter. Finally, Blair William & Co. IL grew its position in shares of Lancaster Colony by 2,386.6% during the second quarter. Blair William & Co. IL now owns 172,075 shares of the company’s stock worth $32,517,000 after purchasing an additional 165,155 shares in the last quarter. Institutional investors own 66.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research report on Friday. StockNews.com cut Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Stephens cut their target price on Lancaster Colony from $200.00 to $196.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Loop Capital cut their price target on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a report on Friday. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Lancaster Colony has an average rating of “Hold” and an average price target of $193.50.

Insider Activity

In related news, Director Elliot K. Fullen acquired 3,000 shares of the 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 purchase, the director now directly owns 5,298 shares of the company’s stock, valued at approximately $895,362. This trade represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 29.50% of the company’s stock.

Lancaster Colony Price Performance

NASDAQ LANC opened at $180.47 on Monday. The stock has a market capitalization of $4.98 billion, a PE ratio of 31.22 and a beta of 0.35. The business has a 50 day simple moving average of $177.14 and a two-hundred day simple moving average of $184.66. Lancaster Colony Co. has a 1-year low of $161.54 and a 1-year high of $215.31.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.08). The firm had revenue of $466.56 million for the quarter, compared to analysts’ expectations of $468.36 million. Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.70 EPS. On average, analysts anticipate that Lancaster Colony Co. will post 6.99 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Monday, September 9th. Lancaster Colony’s payout ratio is 62.28%.

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.