Opal Wealth Advisors LLC Takes Position in Lancaster Colony Co. (NASDAQ:LANC)

Opal Wealth Advisors LLC purchased a new position in shares of Lancaster Colony Co. (NASDAQ:LANC) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 146 shares of the company’s stock, valued at approximately $26,000.

Other institutional investors also recently added to or reduced their stakes in the company. Pullen Investment Management LLC increased its holdings in shares of Lancaster Colony by 3.1% in the 1st quarter. Pullen Investment Management LLC now owns 5,688 shares of the company’s stock valued at $995,000 after acquiring an additional 171 shares during the period. Park Avenue Securities LLC boosted its stake in shares of Lancaster Colony by 3.6% during the first quarter. Park Avenue Securities LLC now owns 6,507 shares of the company’s stock worth $1,139,000 after buying an additional 229 shares during the period. Vest Financial LLC purchased a new position in shares of Lancaster Colony during the first quarter worth about $2,438,000. Naples Global Advisors LLC grew its holdings in shares of Lancaster Colony by 7.0% during the first quarter. Naples Global Advisors LLC now owns 2,685 shares of the company’s stock worth $470,000 after buying an additional 175 shares during the last quarter. Finally, NBC Securities Inc. increased its position in Lancaster Colony by 179,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,800 shares of the company’s stock valued at $315,000 after acquiring an additional 1,799 shares during the period. Institutional investors and hedge funds own 66.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Benchmark raised Lancaster Colony from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research report on Thursday, May 1st. Wall Street Zen lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Finally, Stephens cut their price objective on shares of Lancaster Colony from $200.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Lancaster Colony currently has a consensus rating of “Hold” and a consensus target price of $203.50.

Lancaster Colony Stock Performance

NASDAQ:LANC opened at $168.64 on Tuesday. Lancaster Colony Co. has a 1 year low of $156.14 and a 1 year high of $202.63. The stock has a fifty day moving average price of $172.89 and a two-hundred day moving average price of $177.89. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 29.64 and a beta of 0.47.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.07). The company had revenue of $457.84 million during the quarter, compared to analysts’ expectations of $483.47 million. Lancaster Colony had a net margin of 8.26% and a return on equity of 19.51%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.44 EPS. On average, analysts predict that Lancaster Colony Co. will post 6.8 EPS for the current year.

Lancaster Colony Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, June 6th. Lancaster Colony’s dividend payout ratio (DPR) is 61.79%.

Lancaster Colony Profile

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.