Fifth Third Wealth Advisors LLC Sells 500 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Fifth Third Wealth Advisors LLC decreased its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 14.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,985 shares of the company’s stock after selling 500 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Lancaster Colony were worth $517,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Blair William & Co. IL raised its stake in Lancaster Colony by 2,386.6% during the second quarter. Blair William & Co. IL now owns 172,075 shares of the company’s stock worth $32,517,000 after buying an additional 165,155 shares during the last quarter. Wesbanco Bank Inc. raised its position in shares of Lancaster Colony by 4,189.1% in the 3rd quarter. Wesbanco Bank Inc. now owns 163,800 shares of the company’s stock worth $28,922,000 after acquiring an additional 159,981 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Lancaster Colony by 243.2% in the 3rd quarter. Wellington Management Group LLP now owns 83,630 shares of the company’s stock valued at $14,767,000 after purchasing an additional 59,261 shares during the period. Millennium Management LLC boosted its position in shares of Lancaster Colony by 1,055.2% during the 2nd quarter. Millennium Management LLC now owns 36,090 shares of the company’s stock valued at $6,820,000 after purchasing an additional 32,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Lancaster Colony by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 520,335 shares of the company’s stock worth $98,326,000 after purchasing an additional 25,072 shares during the period. Institutional investors and hedge funds own 66.44% of the company’s stock.

Lancaster Colony Stock Performance

Shares of Lancaster Colony stock opened at $170.30 on Friday. Lancaster Colony Co. has a 52 week low of $163.20 and a 52 week high of $215.31. The stock has a 50 day moving average price of $181.20 and a two-hundred day moving average price of $182.32. The stock has a market capitalization of $4.70 billion, a PE ratio of 29.46 and a beta of 0.36.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly 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). Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The business had revenue of $466.56 million for the quarter, compared to the consensus estimate of $468.36 million. During the same quarter last year, the firm posted $1.70 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Research analysts forecast that Lancaster Colony Co. will post 6.7 EPS for the current year.

Lancaster Colony Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, December 5th were given a $0.95 dividend. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $3.80 annualized dividend and a yield of 2.23%. Lancaster Colony’s dividend payout ratio (DPR) is presently 65.74%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Benchmark reissued a “hold” rating on shares of Lancaster Colony in a research note on Tuesday, November 19th. Stephens reissued an “equal weight” rating and set a $196.00 target price on shares of Lancaster Colony in a research note on Tuesday, November 19th. Finally, Loop Capital decreased their price target on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research note on Friday, November 1st.

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.