Mutual of America Capital Management LLC Sells 1,248 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Mutual of America Capital Management LLC reduced its position in Lancaster Colony Co. (NASDAQ:LANC) by 10.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,416 shares of the company’s stock after selling 1,248 shares during the period. Mutual of America Capital Management LLC’s holdings in Lancaster Colony were worth $1,839,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Lancaster Colony in the second quarter worth approximately $1,528,000. Leeward Investments LLC MA grew its stake in Lancaster Colony by 5.6% during the second quarter. Leeward Investments LLC MA now owns 51,981 shares of the company’s stock valued at $9,823,000 after acquiring an additional 2,771 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in Lancaster Colony in the 2nd quarter valued at $658,000. Van ECK Associates Corp lifted its stake in Lancaster Colony by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 12,897 shares of the company’s stock worth $2,271,000 after purchasing an additional 3,686 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Lancaster Colony during the 3rd quarter valued at about $2,244,000. 66.44% of the stock is currently owned by institutional investors.

Lancaster Colony Stock Up 2.4 %

Shares of NASDAQ:LANC opened at $186.38 on Monday. Lancaster Colony Co. has a 52-week low of $161.54 and a 52-week high of $215.31. The business has a fifty day moving average of $181.44 and a two-hundred day moving average of $184.58. The stock has a market cap of $5.14 billion, a P/E ratio of 32.25 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last issued 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 company had revenue of $466.56 million for the quarter, compared to analysts’ expectations of $468.36 million. Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. Lancaster Colony’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.70 EPS. On average, equities analysts anticipate that Lancaster Colony Co. will post 6.72 earnings per share for the current year.

Lancaster Colony Increases Dividend

The business also recently announced 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 an increase from Lancaster Colony’s previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, December 5th. Lancaster Colony’s dividend payout ratio (DPR) is 62.28%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LANC shares. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. Loop Capital reduced their price target on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. StockNews.com lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Finally, Stephens restated an “equal weight” rating and set a $196.00 target price on shares of Lancaster Colony in a research report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $193.50.

Insider Buying and Selling

In other Lancaster Colony news, Director Elliot K. Fullen acquired 3,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were bought at an average price of $169.00 per share, with a total value of $507,000.00. Following the acquisition, the director now owns 5,298 shares of the company’s stock, valued at $895,362. This trade represents a 130.55 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 29.50% of the company’s stock.

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.