Principal Financial Group Inc. increased its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC – Free Report) by 0.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,745 shares of the company’s stock after purchasing an additional 672 shares during the quarter. Principal Financial Group Inc. owned 0.29% of Lancaster Colony worth $15,976,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp increased its position in shares of Lancaster Colony by 20.2% during the 3rd quarter. State Street Corp now owns 2,443,913 shares of the company’s stock worth $367,271,000 after purchasing an additional 410,104 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Lancaster Colony by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,079,570 shares of the company’s stock worth $312,518,000 after purchasing an additional 14,711 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Lancaster Colony during the 4th quarter worth about $147,751,000. Dimensional Fund Advisors LP boosted its holdings in Lancaster Colony by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 485,499 shares of the company’s stock valued at $95,793,000 after acquiring an additional 7,852 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Lancaster Colony by 3.6% during the 1st quarter. First Trust Advisors LP now owns 428,203 shares of the company’s stock valued at $63,866,000 after acquiring an additional 14,891 shares during the period. 59.90% of the stock is owned by institutional investors and hedge funds.
Lancaster Colony Stock Performance
Shares of LANC opened at $165.23 on Friday. The stock has a 50-day simple moving average of $189.70 and a 200-day simple moving average of $196.50. The stock has a market capitalization of $4.55 billion, a PE ratio of 41.00 and a beta of 0.21. Lancaster Colony Co. has a 1 year low of $149.76 and a 1 year high of $220.65.
Lancaster Colony Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Thursday, September 7th. Lancaster Colony’s payout ratio is presently 84.37%.
Analyst Upgrades and Downgrades
LANC has been the subject of a number of research analyst reports. Loop Capital lowered their target price on Lancaster Colony from $237.00 to $226.00 and set a “buy” rating for the company in a report on Thursday. StockNews.com initiated coverage on Lancaster Colony in a report on Thursday, August 17th. They set a “hold” rating for the company.
Check Out Our Latest Research Report on LANC
Lancaster Colony Profile
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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