Wipfli Financial Advisors LLC Acquires New Shares in Lancaster Colony Co. (NASDAQ:LANC)

Wipfli Financial Advisors LLC acquired a new stake in Lancaster Colony Co. (NASDAQ:LANCGet Rating) in the 3rd quarter, Holdings Channel reports. The firm acquired 193 shares of the company’s stock, valued at approximately $29,000.

Other hedge funds have also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D increased its stake in Lancaster Colony by 20.4% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 18,663 shares of the company’s stock valued at $2,403,000 after purchasing an additional 3,159 shares in the last quarter. Rhumbline Advisers grew its holdings in Lancaster Colony by 7.7% during the 2nd quarter. Rhumbline Advisers now owns 73,582 shares of the company’s stock valued at $9,476,000 after buying an additional 5,263 shares during the last quarter. ProShare Advisors LLC grew its holdings in Lancaster Colony by 8.0% during the 2nd quarter. ProShare Advisors LLC now owns 223,132 shares of the company’s stock valued at $28,734,000 after buying an additional 16,575 shares during the last quarter. WCM Investment Management LLC grew its holdings in Lancaster Colony by 0.9% during the 3rd quarter. WCM Investment Management LLC now owns 95,655 shares of the company’s stock valued at $14,545,000 after buying an additional 877 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in Lancaster Colony during the 2nd quarter valued at $417,000. 60.69% of the stock is owned by hedge funds and other institutional investors.

Lancaster Colony Stock Down 0.5 %

LANC stock opened at $192.00 on Friday. Lancaster Colony Co. has a 52-week low of $116.85 and a 52-week high of $214.00. The stock’s fifty day simple moving average is $201.04 and its 200-day simple moving average is $172.31. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 54.86 and a beta of 0.23.

Lancaster Colony (NASDAQ:LANCGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.14. Lancaster Colony had a return on equity of 14.40% and a net margin of 5.64%. The business had revenue of $425.54 million for the quarter, compared to analysts’ expectations of $422.04 million. As a group, analysts anticipate that Lancaster Colony Co. will post 5.69 earnings per share for the current fiscal year.

Lancaster Colony Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Monday, December 5th were issued a $0.85 dividend. The ex-dividend date was Friday, December 2nd. This represents a $3.40 dividend on an annualized basis and a yield of 1.77%. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.80. Lancaster Colony’s dividend payout ratio (DPR) is presently 97.14%.

Insider Activity at Lancaster Colony

In related news, insider Kristin Bird sold 1,535 shares of Lancaster Colony stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $198.73, for a total value of $305,050.55. Following the transaction, the insider now owns 3,194 shares in the company, valued at $634,743.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Lancaster Colony news, CEO David Alan Ciesinski sold 2,225 shares of the firm’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $209.16, for a total value of $465,381.00. Following the transaction, the chief executive officer now directly owns 48,374 shares of the company’s stock, valued at $10,117,905.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kristin Bird sold 1,535 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $198.73, for a total value of $305,050.55. Following the completion of the transaction, the insider now directly owns 3,194 shares in the company, valued at $634,743.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,686 shares of company stock worth $2,434,971. 29.90% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Lancaster Colony in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $140.00.

Lancaster Colony Profile

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding LANC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lancaster Colony Co. (NASDAQ:LANCGet Rating).

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

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