Teacher Retirement System of Texas purchased a new stake in Lancaster Colony Corp. (NASDAQ:LANC) in the fourth quarter, HoldingsChannel reports. The firm purchased 6,551 shares of the company’s stock, valued at approximately $846,000.
Several other hedge funds also recently bought and sold shares of LANC. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Lancaster Colony in the third quarter valued at approximately $151,000. Vident Investment Advisory LLC purchased a new stake in shares of Lancaster Colony in the third quarter valued at approximately $210,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Lancaster Colony in the third quarter valued at approximately $243,000. ING Groep NV grew its position in shares of Lancaster Colony by 23.2% in the fourth quarter. ING Groep NV now owns 2,940 shares of the company’s stock valued at $380,000 after purchasing an additional 553 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in shares of Lancaster Colony by 103.2% in the third quarter. Quantbot Technologies LP now owns 4,861 shares of the company’s stock valued at $583,000 after purchasing an additional 2,469 shares in the last quarter. Institutional investors and hedge funds own 52.28% of the company’s stock.
Lancaster Colony Corp. (NASDAQ:LANC) opened at $122.85 on Wednesday. Lancaster Colony Corp. has a 52 week low of $113.33 and a 52 week high of $135.86. The company has a market capitalization of $3,330.48, a price-to-earnings ratio of 28.89 and a beta of 1.05.
Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Thursday, January 25th. The company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.18). Lancaster Colony had a return on equity of 19.65% and a net margin of 9.84%. The firm had revenue of $319.70 million for the quarter, compared to analyst estimates of $335.10 million. During the same quarter last year, the company earned $1.42 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. research analysts forecast that Lancaster Colony Corp. will post 4.4 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 9th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Thursday, March 8th. Lancaster Colony’s dividend payout ratio (DPR) is 55.68%.
A number of research firms have recently issued reports on LANC. Zacks Investment Research lowered Lancaster Colony from a “hold” rating to a “strong sell” rating in a research report on Friday, February 16th. BidaskClub lowered Lancaster Colony from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 6th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $153.00.
About Lancaster Colony
Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar.
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