Credit Suisse AG Lowers Stake in Lancaster Colony Corporation (LANC)

Credit Suisse AG cut its stake in Lancaster Colony Corporation (NASDAQ:LANC) by 28.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,654 shares of the company’s stock after selling 6,730 shares during the period. Credit Suisse AG owned 0.06% of Lancaster Colony Corporation worth $2,146,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LANC. Teachers Advisors LLC increased its position in Lancaster Colony Corporation by 3.4% in the fourth quarter. Teachers Advisors LLC now owns 154,452 shares of the company’s stock valued at $21,838,000 after buying an additional 5,024 shares in the last quarter. Bank of Montreal Can increased its position in Lancaster Colony Corporation by 0.7% in the first quarter. Bank of Montreal Can now owns 12,642 shares of the company’s stock valued at $1,629,000 after buying an additional 82 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Lancaster Colony Corporation by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 4,900 shares of the company’s stock valued at $631,000 after buying an additional 100 shares in the last quarter. Fisher Asset Management LLC increased its position in Lancaster Colony Corporation by 0.9% in the first quarter. Fisher Asset Management LLC now owns 403,475 shares of the company’s stock valued at $51,984,000 after buying an additional 3,764 shares in the last quarter. Finally, Profund Advisors LLC increased its position in Lancaster Colony Corporation by 3.4% in the first quarter. Profund Advisors LLC now owns 2,821 shares of the company’s stock valued at $363,000 after buying an additional 92 shares in the last quarter. 49.20% of the stock is currently owned by institutional investors.

Lancaster Colony Corporation (NASDAQ:LANC) traded up 1.18% on Friday, reaching $116.47. 227,631 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $123.14 and a 200-day moving average of $126.74. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 27.73 and a beta of 1.02. Lancaster Colony Corporation has a one year low of $113.33 and a one year high of $149.30.

Lancaster Colony Corporation (NASDAQ:LANC) last issued its quarterly earnings results on Thursday, August 17th. The company reported $1.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by $0.08. The business had revenue of $289.90 million for the quarter, compared to analyst estimates of $295.05 million. Lancaster Colony Corporation had a return on equity of 22.76% and a net margin of 9.59%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 EPS. Equities research analysts forecast that Lancaster Colony Corporation will post $4.84 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.20 annualized dividend and a dividend yield of 1.89%. Lancaster Colony Corporation’s dividend payout ratio is presently 52.26%.

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Several research analysts recently commented on LANC shares. Wedbush reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Lancaster Colony Corporation in a research note on Monday, April 24th. Zacks Investment Research downgraded shares of Lancaster Colony Corporation from a “hold” rating to a “sell” rating in a research note on Monday, May 1st. Vertical Research raised shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating in a research note on Friday, May 26th. Vertical Group raised shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating and raised their target price for the company from $123.00 to $146.00 in a research report on Tuesday, May 30th. Finally, BidaskClub raised shares of Lancaster Colony Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Lancaster Colony Corporation currently has a consensus rating of “Hold” and an average price target of $152.00.

Lancaster Colony Corporation Company Profile

Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar.

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

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