Lancaster Colony Co. (NASDAQ:LANC) Shares Sold by Amalgamated Bank

Posted by on Jul 29th, 2023

Amalgamated Bank lessened its stake in Lancaster Colony Co. (NASDAQ:LANC – Free Report) by 5.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,115 shares of the company’s stock after selling 754 shares during the period. Amalgamated Bank’s holdings in Lancaster Colony were worth $2,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in Lancaster Colony in the first quarter valued at $430,000. CM Wealth Advisors LLC purchased a new stake in shares of Lancaster Colony in the first quarter valued at about $1,647,000. Truadvice LLC purchased a new stake in shares of Lancaster Colony in the first quarter valued at about $868,000. Texas Permanent School Fund Corp raised its holdings in shares of Lancaster Colony by 33.5% in the first quarter. Texas Permanent School Fund Corp now owns 17,803 shares of the company’s stock valued at $3,612,000 after buying an additional 4,466 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Lancaster Colony by 1.3% in the first quarter. SG Americas Securities LLC now owns 14,572 shares of the company’s stock valued at $2,956,000 after buying an additional 189 shares during the last quarter. Institutional investors and hedge funds own 59.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on LANC shares. StockNews.com cut shares of Lancaster Colony from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Loop Capital started coverage on shares of Lancaster Colony in a report on Thursday, June 22nd. They set a “buy” rating and a $237.00 price target for the company.

Lancaster Colony Trading Down 0.5 %

Shares of LANC opened at $192.17 on Friday. The firm’s 50-day moving average is $195.19 and its two-hundred day moving average is $197.69. Lancaster Colony Co. has a twelve month low of $130.77 and a twelve month high of $220.65. The firm has a market capitalization of $5.29 billion, a P/E ratio of 40.37 and a beta of 0.22.

Lancaster Colony (NASDAQ:LANC – Get Free Report) last issued its earnings results 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 company had revenue of $464.94 million for the quarter, compared to analyst estimates of $443.08 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. Analysts predict that Lancaster Colony Co. will post 5 EPS for the current year.

Lancaster Colony Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 9th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, June 8th. This represents a $3.40 annualized dividend and a yield of 1.77%. Lancaster Colony’s payout ratio is currently 71.43%.

Lancaster Colony Company Profile

(Free Report)

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

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