Ontario Teachers Pension Plan Board Takes $3.36 Million Position in Lancaster Colony Co. (NASDAQ:LANC)
Ontario Teachers Pension Plan Board purchased a new position in shares of Lancaster Colony Co. (NASDAQ:LANC – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 16,565 shares of the company’s stock, valued at approximately $3,361,000. Ontario Teachers Pension Plan Board owned about 0.06% of Lancaster Colony at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in LANC. Atlas Capital Advisors LLC bought a new stake in shares of Lancaster Colony in the fourth quarter valued at about $46,000. Ronald Blue Trust Inc. grew its position in shares of Lancaster Colony by 103.8% during the 1st quarter. Ronald Blue Trust Inc. now owns 265 shares of the company’s stock worth $52,000 after purchasing an additional 135 shares in the last quarter. James Investment Research Inc. increased its holdings in shares of Lancaster Colony by 127.7% during the first quarter. James Investment Research Inc. now owns 337 shares of the company’s stock worth $68,000 after purchasing an additional 189 shares during the period. State of Wyoming bought a new position in shares of Lancaster Colony during the fourth quarter worth approximately $96,000. Finally, BOKF NA acquired a new stake in shares of Lancaster Colony in the first quarter valued at approximately $110,000. 60.49% of the stock is currently owned by institutional investors.
Lancaster Colony Price Performance
LANC traded up $0.66 during trading on Monday, hitting $165.85. 105,100 shares of the stock traded hands, compared to its average volume of 148,740. The business has a 50 day moving average price of $187.22 and a 200 day moving average price of $195.75. Lancaster Colony Co. has a twelve month low of $149.76 and a twelve month high of $220.65. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 41.15 and a beta of 0.23.
Lancaster Colony (NASDAQ:LANC – Get Free Report) last released its quarterly earnings data on Wednesday, August 23rd. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.26). The business had revenue of $454.70 million during the quarter, compared to analyst estimates of $481.13 million. Lancaster Colony had a net margin of 6.11% and a return on equity of 15.02%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the business earned $1.35 earnings per share. On average, equities research analysts predict that Lancaster Colony Co. will post 6.25 earnings per share for the current year.
Lancaster Colony Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Thursday, September 7th. Lancaster Colony’s dividend payout ratio is 84.37%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on LANC shares. StockNews.com started coverage on Lancaster Colony in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Loop Capital decreased their price target on Lancaster Colony from $237.00 to $226.00 and set a “buy” rating on the stock in a research report on Thursday, August 24th.
Get Our Latest Stock Report on Lancaster Colony
About Lancaster Colony
Lancaster Colony Corporation engages in the manufacturing and marketing of food products for the retail and foodservice markets 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; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti; and frozen pasta under the Marzetti Frozen Pasta brand.
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