New Mexico Educational Retirement Board boosted its position in Lancaster Colony Co. (NASDAQ:LANC – Free Report) by 13.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,100 shares of the company’s stock after purchasing an additional 500 shares during the period. New Mexico Educational Retirement Board’s holdings in Lancaster Colony were worth $824,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Atlas Capital Advisors LLC purchased a new position in Lancaster Colony in the fourth quarter valued at approximately $46,000. Sunbelt Securities Inc. bought a new stake in Lancaster Colony during the 1st quarter valued at $50,000. Ronald Blue Trust Inc. raised its holdings in Lancaster Colony by 103.8% during the 1st quarter. Ronald Blue Trust Inc. now owns 265 shares of the company’s stock valued at $52,000 after acquiring an additional 135 shares during the period. James Investment Research Inc. raised its holdings in Lancaster Colony by 127.7% during the 1st quarter. James Investment Research Inc. now owns 337 shares of the company’s stock valued at $68,000 after acquiring an additional 189 shares during the period. Finally, State of Wyoming bought a new stake in Lancaster Colony during the 4th quarter valued at $96,000. Hedge funds and other institutional investors own 60.49% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on LANC shares. Loop Capital lowered their target price on shares of Lancaster Colony from $237.00 to $226.00 and set a “buy” rating on the stock in a report on Thursday, August 24th. StockNews.com started coverage on shares of Lancaster Colony in a report on Thursday, August 17th. They set a “hold” rating on the stock.
Lancaster Colony Price Performance
Shares of LANC stock opened at $162.67 on Tuesday. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of 40.36 and a beta of 0.22. Lancaster Colony Co. has a 1 year low of $149.76 and a 1 year high of $220.65. The company’s fifty day simple moving average is $176.42 and its two-hundred day simple moving average is $192.12.
Lancaster Colony (NASDAQ:LANC – Get Free Report) last released its quarterly earnings results on Wednesday, August 23rd. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.26). The firm had revenue of $454.70 million during the quarter, compared to the consensus estimate of $481.13 million. Lancaster Colony had a return on equity of 15.02% and a net margin of 6.11%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.35 EPS. Equities research analysts anticipate that Lancaster Colony Co. will post 6.25 EPS for the current year.
Lancaster Colony Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 8th were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $3.40 annualized dividend and a dividend yield of 2.09%. Lancaster Colony’s payout ratio is currently 84.37%.
Lancaster Colony Company Profile
Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels 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 brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.
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