UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Holdings in Lancaster Colony Co. (NASDAQ:LANC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 5.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,141 shares of the company’s stock after selling 1,948 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.13% of Lancaster Colony worth $6,205,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of Lancaster Colony during the second quarter valued at $1,528,000. Diversified Trust Co grew its holdings in Lancaster Colony by 3.0% in the 2nd quarter. Diversified Trust Co now owns 5,385 shares of the company’s stock valued at $1,018,000 after buying an additional 159 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Lancaster Colony by 27.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,841 shares of the company’s stock valued at $726,000 after buying an additional 837 shares during the last quarter. AlphaMark Advisors LLC acquired a new stake in shares of Lancaster Colony during the 2nd quarter worth approximately $303,000. Finally, Blue Trust Inc. grew its holdings in shares of Lancaster Colony by 1,645.6% during the 2nd quarter. Blue Trust Inc. now owns 2,566 shares of the company’s stock worth $533,000 after purchasing an additional 2,419 shares in the last quarter. 66.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a research note on Tuesday, November 19th. Loop Capital dropped their price objective on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a report on Friday, November 1st. StockNews.com cut Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Stephens reaffirmed an “equal weight” rating and set a $196.00 price objective on shares of Lancaster Colony in a research report on Tuesday, November 19th.

Lancaster Colony Stock Up 3.3 %

LANC opened at $189.97 on Wednesday. Lancaster Colony Co. has a 12-month low of $161.54 and a 12-month high of $215.31. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 32.87 and a beta of 0.35. The business has a 50 day moving average of $183.02 and a 200-day moving average of $183.99.

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). Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The firm had revenue of $466.56 million for the quarter, compared to analyst estimates of $468.36 million. During the same period in the previous year, the business posted $1.70 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, analysts expect that Lancaster Colony Co. will post 6.7 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 issued a dividend of $0.95 per share. The ex-dividend date is Thursday, December 5th. This is an increase from Lancaster Colony’s previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a yield of 2.00%. Lancaster Colony’s payout ratio is presently 65.74%.

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.