Retirement Systems of Alabama Has $4.20 Million Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Retirement Systems of Alabama decreased its position in Lancaster Colony Co. (NASDAQ:LANCFree Report) by 0.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 25,430 shares of the company’s stock after selling 107 shares during the period. Retirement Systems of Alabama owned about 0.09% of Lancaster Colony worth $4,197,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Atlas Capital Advisors LLC bought a new stake in shares of Lancaster Colony during the 4th quarter worth approximately $46,000. Lazard Asset Management LLC bought a new stake in shares of Lancaster Colony during the 2nd quarter worth approximately $47,000. Sunbelt Securities Inc. bought a new stake in shares of Lancaster Colony during the 1st quarter worth approximately $50,000. State of Wyoming bought a new stake in shares of Lancaster Colony during the 4th quarter worth approximately $96,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Lancaster Colony during the 2nd quarter worth approximately $99,000. Institutional investors own 60.49% of the company’s stock.

Lancaster Colony Price Performance

Shares of NASDAQ LANC opened at $202.57 on Friday. The stock’s fifty day moving average price is $170.53 and its two-hundred day moving average price is $172.62. Lancaster Colony Co. has a one year low of $158.88 and a one year high of $220.65. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 43.28 and a beta of 0.32.

Lancaster Colony (NASDAQ:LANCGet Free Report) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.16. Lancaster Colony had a return on equity of 17.37% and a net margin of 6.92%. The firm had revenue of $461.57 million for the quarter, compared to analyst estimates of $445.90 million. On average, equities analysts anticipate that Lancaster Colony Co. will post 5.88 earnings per share for the current fiscal year.

Lancaster Colony Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 4th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.78%. This is a positive change from Lancaster Colony’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, December 1st. Lancaster Colony’s dividend payout ratio is currently 76.92%.

Analyst Ratings Changes

LANC has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on Lancaster Colony in a research note on Monday, November 27th. They set a “hold” rating and a $166.00 price objective on the stock. TheStreet raised Lancaster Colony from a “c+” rating to a “b-” rating in a report on Tuesday, November 7th. Stephens lowered Lancaster Colony from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $205.00 to $218.00 in a report on Friday. Finally, DA Davidson initiated coverage on Lancaster Colony in a report on Friday, December 8th. They set a “neutral” rating and a $185.00 target price on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $198.75.

Get Our Latest Report on Lancaster Colony

About Lancaster Colony

(Free Report)

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.

See Also

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

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