Lancaster Colony Co. (NASDAQ:LANC) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its position in Lancaster Colony Co. (NASDAQ:LANCGet Rating) by 12.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,504 shares of the company’s stock after selling 2,281 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Lancaster Colony worth $2,312,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Profund Advisors LLC increased its position in shares of Lancaster Colony by 4.8% in the 4th quarter. Profund Advisors LLC now owns 1,698 shares of the company’s stock worth $281,000 after purchasing an additional 77 shares during the last quarter. Benjamin Edwards Inc. increased its position in shares of Lancaster Colony by 3.6% in the 4th quarter. Benjamin Edwards Inc. now owns 2,266 shares of the company’s stock worth $375,000 after purchasing an additional 79 shares during the last quarter. State of Michigan Retirement System grew its position in shares of Lancaster Colony by 2.0% during the 4th quarter. State of Michigan Retirement System now owns 5,029 shares of the company’s stock valued at $833,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Lancaster Colony by 2.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 5,200 shares of the company’s stock valued at $824,000 after buying an additional 100 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC grew its position in shares of Lancaster Colony by 4.3% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 3,450 shares of the company’s stock valued at $571,000 after buying an additional 141 shares during the last quarter. Institutional investors own 57.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LANC shares. Benchmark downgraded shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. CL King started coverage on shares of Lancaster Colony in a research report on Tuesday, June 14th. They set a “neutral” rating for the company. Cowen started coverage on shares of Lancaster Colony in a research report on Monday, May 23rd. They set a “market perform” rating and a $140.00 price objective for the company. StockNews.com raised shares of Lancaster Colony from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Cowen assumed coverage on shares of Lancaster Colony in a research report on Monday, May 23rd. They issued a “market perform” rating and a $140.00 target price for the company. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $153.67.

Insider Transactions at Lancaster Colony

In related news, CFO K. Pigott Thomas purchased 800 shares of Lancaster Colony stock in a transaction dated Thursday, May 19th. The stock was bought at an average cost of $121.70 per share, with a total value of $97,360.00. Following the purchase, the chief financial officer now owns 5,817 shares in the company, valued at approximately $707,928.90. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 29.90% of the company’s stock.

Lancaster Colony Trading Up 2.1 %

NASDAQ LANC opened at $136.02 on Thursday. Lancaster Colony Co. has a 52 week low of $116.85 and a 52 week high of $194.69. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 40.72 and a beta of 0.14. The company has a 50-day moving average price of $127.11 and a two-hundred day moving average price of $144.03.

Lancaster Colony (NASDAQ:LANCGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.46 earnings per share for the quarter. The company had revenue of $403.49 million during the quarter. Lancaster Colony had a net margin of 5.73% and a return on equity of 12.98%. As a group, equities research analysts expect that Lancaster Colony Co. will post 2.7 earnings per share for the current fiscal year.

Lancaster Colony Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Thursday, June 9th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Wednesday, June 8th. Lancaster Colony’s dividend payout ratio is currently 95.81%.

About Lancaster Colony

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Lancaster Colony Corporation manufactures and markets food products for the retail and foodservice markets in the United States. The company operates in two segments, Retail and Foodservice. It 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, Cardini's, and Girard's; flatbread wraps and pizza crusts under the Flatout brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti; frozen pasta under the Marzetti Frozen Pasta brand; and vegetable and fruit dips under the Marzetti brand.

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

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