Citigroup Inc. Trims Position in Lancaster Colony Co. (NASDAQ:LANC)

Posted by Defense World Staff on Jun 1st, 2023

Citigroup Inc. cut its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC – Get Rating) by 31.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,753 shares of the company’s stock after selling 2,165 shares during the period. Citigroup Inc.’s holdings in Lancaster Colony were worth $938,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Lazard Asset Management LLC boosted its position in shares of Lancaster Colony by 95.5% during 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 in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Lancaster Colony by 4.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 63,695 shares of the company’s stock valued at $12,567,000 after purchasing an additional 2,469 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Lancaster Colony by 1.4% during 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 purchasing an additional 195 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Lancaster Colony by 0.8% during the fourth quarter. Retirement Systems of Alabama now owns 26,148 shares of the company’s stock valued at $5,159,000 after purchasing an additional 206 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Lancaster Colony by 57.8% during the third quarter. Signaturefd LLC now owns 1,729 shares of the company’s stock valued at $260,000 after purchasing an additional 633 shares in the last quarter. 60.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Lancaster Colony in a report on Thursday, May 18th. They issued a “hold” rating on the stock.

Lancaster Colony Trading Down 0.9 %

Lancaster Colony stock opened at $196.58 on Thursday. The business’s fifty day simple moving average is $205.89 and its two-hundred day simple moving average is $200.06. Lancaster Colony Co. has a 12 month low of $116.85 and a 12 month high of $220.65. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 41.30 and a beta of 0.22.

Lancaster Colony (NASDAQ:LANC – Get Rating) last released its earnings results on Thursday, May 4th. The company reported $0.89 EPS 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 company had revenue of $464.94 million during the quarter, compared to the consensus estimate of $443.08 million. During the same period last year, the firm posted $0.46 earnings per share. The company’s revenue was up 15.2% compared to the same quarter last year. On average, equities research analysts predict that Lancaster Colony Co. will post 5 EPS for the current year.

Lancaster Colony Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 9th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Thursday, June 8th. Lancaster Colony’s payout ratio is currently 71.43%.

Lancaster Colony 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.