Dimensional Fund Advisors LP Has $98.33 Million Stake in Lancaster Colony Co. (NASDAQ:LANC)

Dimensional Fund Advisors LP increased its position in Lancaster Colony Co. (NASDAQ:LANC) by 5.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 520,335 shares of the company’s stock after buying an additional 25,072 shares during the period. Dimensional Fund Advisors LP owned 1.89% of Lancaster Colony worth $98,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its stake in shares of Lancaster Colony by 6.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 126,344 shares of the company’s stock worth $23,875,000 after purchasing an additional 7,642 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Lancaster Colony by 35.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 6,416 shares of the company’s stock worth $1,212,000 after purchasing an additional 1,664 shares in the last quarter. Parallel Advisors LLC increased its position in Lancaster Colony by 10.3% during the second quarter. Parallel Advisors LLC now owns 2,114 shares of the company’s stock worth $399,000 after buying an additional 198 shares during the last quarter. Federated Hermes Inc. raised its holdings in Lancaster Colony by 5.9% during the second quarter. Federated Hermes Inc. now owns 2,230 shares of the company’s stock valued at $421,000 after buying an additional 125 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Lancaster Colony by 8.7% during the second quarter. American Century Companies Inc. now owns 11,564 shares of the company’s stock valued at $2,185,000 after buying an additional 925 shares in the last quarter. Institutional investors own 66.44% of the company’s stock.

Analyst Ratings Changes

LANC has been the topic of a number of analyst reports. StockNews.com lowered Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Stephens lowered their price target on Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd. Loop Capital reduced their price objective on shares of Lancaster Colony from $236.00 to $232.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Finally, Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research note on Wednesday, September 18th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $195.75.

Insider Activity at Lancaster Colony

In other news, Director Elliot K. Fullen acquired 3,000 shares of Lancaster Colony stock in a transaction on Tuesday, August 27th. The stock was bought at an average price of $169.00 per share, for a total transaction of $507,000.00. Following the transaction, the director now owns 5,298 shares of the company’s stock, valued at $895,362. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 29.60% of the company’s stock.

Lancaster Colony Stock Down 0.7 %

Shares of LANC stock opened at $178.80 on Wednesday. Lancaster Colony Co. has a 12 month low of $160.01 and a 12 month high of $215.31. The firm has a market cap of $4.92 billion, a PE ratio of 37.10 and a beta of 0.35. The stock has a 50 day moving average of $183.57 and a 200-day moving average of $189.25.

Lancaster Colony (NASDAQ:LANC) last released its earnings results on Thursday, August 22nd. The company reported $1.35 EPS 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 analyst estimates 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 analysts predict that Lancaster Colony Co. will post 6.96 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Monday, September 9th. Lancaster Colony’s dividend payout ratio (DPR) is presently 74.69%.

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.