Texas Permanent School Fund Has $2.63 Million Position in Lancaster Colony Co. (NASDAQ:LANC)

Posted by on May 10th, 2023

Texas Permanent School Fund reduced its stake in Lancaster Colony Co. (NASDAQ:LANC – Get Rating) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,337 shares of the company’s stock after selling 919 shares during the period. Texas Permanent School Fund’s holdings in Lancaster Colony were worth $2,631,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC increased its holdings in shares of Lancaster Colony by 95.5% in the third quarter. Lazard Asset Management LLC now owns 657 shares of the company’s stock valued at $98,000 after purchasing an additional 321 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Lancaster Colony by 1.4% in the third quarter. New York State Common Retirement Fund now owns 13,800 shares of the company’s stock valued at $2,074,000 after acquiring an additional 195 shares during the period. Brinker Capital Investments LLC boosted its position in shares of Lancaster Colony by 14.2% in the third quarter. Brinker Capital Investments LLC now owns 12,316 shares of the company’s stock valued at $1,851,000 after acquiring an additional 1,531 shares during the period. Retirement Systems of Alabama boosted its position in shares of Lancaster Colony by 0.8% in the fourth quarter. Retirement Systems of Alabama now owns 26,148 shares of the company’s stock valued at $5,159,000 after acquiring an additional 206 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Lancaster Colony by 57.8% in the third quarter. Signaturefd LLC now owns 1,729 shares of the company’s stock valued at $260,000 after acquiring an additional 633 shares during the period. 60.69% of the stock is currently owned by institutional investors and hedge funds.

Lancaster Colony Stock Down 0.7 %

LANC opened at $216.46 on Wednesday. Lancaster Colony Co. has a twelve month low of $116.85 and a twelve month high of $220.65. The company has a 50-day simple moving average of $201.63 and a 200 day simple moving average of $198.24. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 45.47 and a beta of 0.22.

Lancaster Colony (NASDAQ:LANC – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.11). Lancaster Colony had a return on equity of 16.13% and a net margin of 7.21%. The firm had revenue of $464.94 million for the quarter, compared to the consensus estimate of $443.08 million. During the same period in the prior year, the company earned $0.46 EPS. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. Sell-side analysts anticipate that Lancaster Colony Co. will post 5.25 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Thursday, March 9th were given a dividend of $0.85 per share. The ex-dividend date was Wednesday, March 8th. This represents a $3.40 annualized dividend and a yield of 1.57%. Lancaster Colony’s dividend payout ratio is 71.43%.

Analysts Set New Price Targets

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

About Lancaster Colony

(Get Rating)

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.

Featured Stories

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

Receive News & Ratings for Lancaster Colony Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lancaster Colony and related companies with MarketBeat.com's FREE daily email newsletter.