State of New Jersey Common Pension Fund D Has $2.02 Million Stake in Lancaster Colony Co. (NASDAQ:LANC)

State of New Jersey Common Pension Fund D grew its holdings in Lancaster Colony Co. (NASDAQ:LANC) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,687 shares of the company’s stock after purchasing an additional 98 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Lancaster Colony were worth $2,023,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in LANC. Eagle Bay Advisors LLC acquired a new stake in Lancaster Colony in the 4th quarter worth $38,000. GAMMA Investing LLC grew its position in Lancaster Colony by 56.4% during the fourth quarter. GAMMA Investing LLC now owns 280 shares of the company’s stock worth $48,000 after buying an additional 101 shares in the last quarter. KBC Group NV grew its holdings in shares of Lancaster Colony by 80.4% during the 4th quarter. KBC Group NV now owns 893 shares of the company’s stock worth $155,000 after purchasing an additional 398 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Lancaster Colony by 62.1% during the 4th quarter. Blue Trust Inc. now owns 932 shares of the company’s stock worth $165,000 after purchasing an additional 357 shares in the last quarter. Finally, Olympiad Research LP acquired a new stake in shares of Lancaster Colony during the 3rd quarter worth approximately $210,000. 66.44% of the stock is currently owned by institutional investors.

Lancaster Colony Price Performance

Shares of LANC opened at $194.81 on Monday. The company has a market capitalization of $5.37 billion, a P/E ratio of 34.24 and a beta of 0.35. Lancaster Colony Co. has a one year low of $163.20 and a one year high of $209.81. The business’s 50 day simple moving average is $178.11 and its 200-day simple moving average is $180.99.

Lancaster Colony (NASDAQ:LANC) last announced its earnings results on Tuesday, February 4th. The company reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.28. Lancaster Colony had a net margin of 8.26% and a return on equity of 19.51%. The company had revenue of $509.30 million for the quarter, compared to analyst estimates of $495.43 million. During the same period in the prior year, the business earned $1.87 earnings per share. Lancaster Colony’s quarterly revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts anticipate that Lancaster Colony Co. will post 6.8 EPS for the current fiscal year.

Lancaster Colony Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.95 per share. The ex-dividend date is Friday, March 7th. This represents a $3.80 dividend on an annualized basis and a yield of 1.95%. Lancaster Colony’s payout ratio is presently 66.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. DA Davidson lifted their price target on shares of Lancaster Colony from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Stephens lifted their target price on shares of Lancaster Colony from $196.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. StockNews.com raised Lancaster Colony from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th. Finally, Loop Capital decreased their price target on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $211.33.

Insider Activity

In related news, CEO David Alan Ciesinski sold 17,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $191.19, for a total value of $3,250,230.00. Following the sale, the chief executive officer now directly owns 54,644 shares in the company, valued at $10,447,386.36. This trade represents a 23.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 29.50% of the stock is currently owned by company insiders.

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.