Lancaster Colony Co. (NASDAQ:LANC) Shares Sold by Keybank National Association OH

Posted by on Apr 21st, 2023

Keybank National Association OH trimmed its position in Lancaster Colony Co. (NASDAQ:LANC – Get Rating) by 22.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,875 shares of the company’s stock after selling 530 shares during the period. Keybank National Association OH’s holdings in Lancaster Colony were worth $370,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp raised its position in Lancaster Colony by 20.2% in the third quarter. State Street Corp now owns 2,443,913 shares of the company’s stock valued at $367,271,000 after purchasing an additional 410,104 shares during the period. BlackRock Inc. boosted its stake in Lancaster Colony by 5.6% in the third quarter. BlackRock Inc. now owns 2,423,293 shares of the company’s stock valued at $364,172,000 after acquiring an additional 129,054 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in shares of Lancaster Colony in the third quarter valued at about $6,944,000. ProShare Advisors LLC raised its holdings in shares of Lancaster Colony by 12.7% in the third quarter. ProShare Advisors LLC now owns 251,379 shares of the company’s stock valued at $37,778,000 after buying an additional 28,247 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Lancaster Colony by 85.4% during the third quarter. Envestnet Asset Management Inc. now owns 61,226 shares of the company’s stock worth $9,201,000 after purchasing an additional 28,208 shares in the last quarter. 60.69% of the stock is currently owned by institutional investors and hedge funds.

Lancaster Colony Trading Up 0.5 %

NASDAQ LANC opened at $204.96 on Friday. Lancaster Colony Co. has a 52 week low of $116.85 and a 52 week high of $214.00. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 55.39 and a beta of 0.22. The company has a 50-day moving average price of $197.12 and a two-hundred day moving average price of $193.41.

Lancaster Colony (NASDAQ:LANC – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.06). The company had revenue of $477.40 million during the quarter, compared to analyst estimates of $474.98 million. Lancaster Colony had a return on equity of 14.99% and a net margin of 5.81%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. As a group, equities research analysts expect that Lancaster Colony Co. will post 5.25 earnings per share for the current fiscal year.

Lancaster Colony Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Thursday, March 9th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.66%. The ex-dividend date was Wednesday, March 8th. Lancaster Colony’s dividend payout ratio is presently 91.89%.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Lancaster Colony in a report on Thursday, March 16th. They issued a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $140.00.

Lancaster Colony Company Profile

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Lancaster Colony Corp. engages in the manufacture and sale of specialty food products. It operates through the following segments: Retail and Foodservice. The Retail and Foodservice segments both focus on the manufacture and sale of frozen breads, refrigerated dressings, dips and shelf-stable dressings, and croutons under the brand names New York BRAND Bakery, Sister Schubert’s, Marzetti Frozen Pasta, and Flatout.

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Institutional Ownership by Quarter for Lancaster Colony (NASDAQ:LANC)

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