Lancaster Colony Co. (NASDAQ:LANC) Position Increased by Barclays PLC

Barclays PLC grew its stake in shares of Lancaster Colony Co. (NASDAQ:LANC) by 125.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,189 shares of the company’s stock after purchasing an additional 24,589 shares during the quarter. Barclays PLC’s holdings in Lancaster Colony were worth $7,803,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Anthracite Investment Company Inc. acquired a new stake in Lancaster Colony in the third quarter worth $1,204,000. Empowered Funds LLC bought a new position in shares of Lancaster Colony during the third quarter worth about $2,244,000. Van ECK Associates Corp increased its holdings in shares of 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 acquiring an additional 3,686 shares during the period. William B. Walkup & Associates Inc. bought a new stake in Lancaster Colony in the 2nd quarter valued at about $685,000. Finally, Quest Partners LLC boosted its stake in Lancaster Colony by 146,275.0% during the 2nd quarter. Quest Partners LLC now owns 5,855 shares of the company’s stock valued at $1,106,000 after purchasing an additional 5,851 shares during the period. Institutional investors own 66.44% of the company’s stock.

Lancaster Colony Price Performance

Lancaster Colony stock opened at $189.22 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 capitalization of $5.22 billion, a PE ratio of 33.17 and a beta of 0.35. The firm has a 50 day simple moving average of $184.53 and a 200-day simple moving average of $184.33.

Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.62 earnings per share (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 firm had revenue of $466.56 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. On average, analysts forecast that Lancaster Colony Co. will post 6.7 earnings per share for the current fiscal year.

Lancaster Colony Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 5th will be given a $0.95 dividend. The ex-dividend date is Thursday, December 5th. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a yield of 2.01%. Lancaster Colony’s payout ratio is 65.74%.

Analysts Set New Price Targets

LANC has been the topic of a number of recent analyst reports. StockNews.com cut Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a research note on Tuesday, November 19th. Stephens reiterated an “equal weight” rating and set a $196.00 price target on shares of Lancaster Colony in a research report on Tuesday, November 19th. Finally, Loop Capital lowered their price target on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a report on Friday, November 1st.

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.