Citigroup Inc. Boosts Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Citigroup Inc. raised its position in Lancaster Colony Co. (NASDAQ:LANC) by 174.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,700 shares of the company’s stock after acquiring an additional 13,160 shares during the quarter. Citigroup Inc. owned approximately 0.08% of Lancaster Colony worth $3,655,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LANC. Consolidated Planning Corp raised its holdings in Lancaster Colony by 4.5% during the second quarter. Consolidated Planning Corp now owns 1,232 shares of the company’s stock worth $233,000 after purchasing an additional 53 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in Lancaster Colony by 2.3% during the third quarter. Asset Management One Co. Ltd. now owns 2,506 shares of the company’s stock worth $442,000 after purchasing an additional 57 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in Lancaster Colony by 1.8% during the third quarter. Creative Financial Designs Inc. ADV now owns 3,805 shares of the company’s stock worth $672,000 after purchasing an additional 67 shares in the last quarter. AlphaMark Advisors LLC raised its holdings in Lancaster Colony by 5.2% during the third quarter. AlphaMark Advisors LLC now owns 1,686 shares of the company’s stock worth $298,000 after purchasing an additional 83 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Lancaster Colony by 0.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 15,179 shares of the company’s stock worth $2,868,000 after purchasing an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Lancaster Colony Price Performance

Shares of Lancaster Colony stock opened at $184.60 on Thursday. The firm’s fifty day simple moving average is $182.50 and its 200-day simple moving average is $184.13. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 31.94 and a beta of 0.35. Lancaster Colony Co. has a 12 month low of $161.54 and a 12 month high of $215.31.

Lancaster Colony (NASDAQ:LANC) last announced its earnings results on Thursday, October 31st. The company reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.08). The business had revenue of $466.56 million during the quarter, compared to analyst estimates of $468.36 million. Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.70 earnings per share. Analysts anticipate that Lancaster Colony Co. will post 6.72 earnings per share for the current year.

Lancaster Colony Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 5th will be paid a $0.95 dividend. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, December 5th. Lancaster Colony’s payout ratio is currently 62.28%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Stephens reissued an “equal weight” rating and set a $196.00 price objective on shares of Lancaster Colony in a report on Tuesday, November 19th. Benchmark reissued a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th. StockNews.com cut shares of Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Loop Capital cut their target price on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Lancaster Colony presently has a consensus rating of “Hold” and a consensus target price of $202.67.

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.