BNP Paribas Financial Markets Cuts Stake in Lancaster Colony Co. (NASDAQ:LANC)

BNP Paribas Financial Markets reduced its stake in shares of Lancaster Colony Co. (NASDAQ:LANC) by 18.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,416 shares of the company’s stock after selling 3,746 shares during the quarter. BNP Paribas Financial Markets owned about 0.06% of Lancaster Colony worth $2,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Lancaster Colony by 1.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,127 shares of the company’s stock valued at $687,000 after purchasing an additional 55 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Lancaster Colony by 1.2% in the third quarter. Arizona State Retirement System now owns 5,485 shares of the company’s stock valued at $905,000 after purchasing an additional 64 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Lancaster Colony by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 25,503 shares of the company’s stock worth $4,243,000 after buying an additional 73 shares during the period. UMB Bank n.a. boosted its stake in Lancaster Colony by 11.8% during the fourth quarter. UMB Bank n.a. now owns 894 shares of the company’s stock worth $149,000 after buying an additional 94 shares during the period. Finally, State of Michigan Retirement System boosted its stake in Lancaster Colony by 2.1% during the fourth quarter. State of Michigan Retirement System now owns 4,932 shares of the company’s stock worth $821,000 after buying an additional 100 shares during the period. 66.44% of the stock is owned by hedge funds and other institutional investors.

Lancaster Colony Trading Down 1.4 %

NASDAQ:LANC opened at $185.79 on Friday. Lancaster Colony Co. has a twelve month low of $158.88 and a twelve month high of $215.31. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 38.55 and a beta of 0.39. The stock has a fifty day simple moving average of $196.23 and a 200-day simple moving average of $184.63.

Lancaster Colony (NASDAQ:LANC) last released its earnings results on Thursday, May 2nd. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.02. Lancaster Colony had a return on equity of 18.96% and a net margin of 7.10%. The business had revenue of $471.40 million during the quarter, compared to the consensus estimate of $467.90 million. During the same period last year, the company earned $0.89 earnings per share. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, equities research analysts predict that Lancaster Colony Co. will post 6.52 EPS for the current fiscal year.

Lancaster Colony Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.60 annualized dividend and a dividend yield of 1.94%. Lancaster Colony’s dividend payout ratio (DPR) is 74.69%.

Wall Street Analysts Forecast Growth

LANC has been the subject of several recent analyst reports. StockNews.com raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Stephens reaffirmed an “equal weight” rating and set a $218.00 price objective on shares of Lancaster Colony in a research note on Friday, May 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lancaster Colony has an average rating of “Hold” and a consensus price target of $198.75.

About Lancaster Colony

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.