Bank of Montreal Can raised its holdings in Lancaster Colony Co. (NASDAQ:LANC – Get Rating) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,633 shares of the company’s stock after acquiring an additional 87 shares during the period. Bank of Montreal Can’s holdings in Lancaster Colony were worth $1,303,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Lancaster Colony by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 2,058,056 shares of the company’s stock valued at $306,959,000 after acquiring an additional 19,495 shares during the last quarter. State Street Corp increased its holdings in shares of Lancaster Colony by 11.1% during the 2nd quarter. State Street Corp now owns 2,033,809 shares of the company’s stock worth $261,914,000 after buying an additional 203,259 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Lancaster Colony by 3.6% during the 1st quarter. First Trust Advisors LP now owns 428,203 shares of the company’s stock worth $63,866,000 after buying an additional 14,891 shares during the last quarter. London Co. of Virginia increased its holdings in shares of Lancaster Colony by 223.7% during the 2nd quarter. London Co. of Virginia now owns 406,977 shares of the company’s stock worth $52,411,000 after buying an additional 281,260 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Lancaster Colony by 2.6% during the 1st quarter. Renaissance Technologies LLC now owns 391,363 shares of the company’s stock worth $58,372,000 after buying an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 60.69% of the company’s stock.
Insider Buying and Selling at Lancaster Colony
In other Lancaster Colony news, insider Kristin Bird sold 1,535 shares of the firm’s stock in a transaction that occurred on 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 owns 3,194 shares of the company’s stock, valued at approximately $634,743.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 29.90% of the stock is currently owned by corporate insiders.
Lancaster Colony Stock Performance
Lancaster Colony (NASDAQ:LANC – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.06). The company had revenue of $477.40 million for the quarter, compared to analysts’ expectations of $474.98 million. Lancaster Colony had a return on equity of 14.99% and a net margin of 5.81%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 EPS. Research analysts forecast that Lancaster Colony Co. will post 5.53 earnings per share for the current fiscal year.
Lancaster Colony Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Thursday, March 9th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, March 8th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.81%. Lancaster Colony’s payout ratio is currently 91.89%.
Lancaster Colony Company Profile
Lancaster Colony Corp. engages in the manufacture and sale of specialty food products. It operates through the following segments: Retail and Foodservice. The Retail and Foodservice segments both focus on the manufacture and sale of frozen breads, refrigerated dressings, dips and shelf-stable dressings, and croutons under the brand names New York BRAND Bakery, Sister Schubert’s, Marzetti Frozen Pasta, and Flatout.
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