Lancaster Colony Corporation (NASDAQ:LANC) Shares Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System boosted its stake in Lancaster Colony Corporation (NASDAQ:LANC) by 4.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 5,100 shares of the company’s stock after buying an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Lancaster Colony Corporation were worth $625,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LANC. BlackRock Inc. boosted its position in shares of Lancaster Colony Corporation by 6,130.9% in the first quarter. BlackRock Inc. now owns 1,964,804 shares of the company’s stock valued at $253,145,000 after buying an additional 1,933,271 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Lancaster Colony Corporation by 6.8% in the first quarter. Vanguard Group Inc. now owns 1,875,525 shares of the company’s stock valued at $241,643,000 after buying an additional 118,917 shares in the last quarter. State Street Corp boosted its position in shares of Lancaster Colony Corporation by 3.3% in the first quarter. State Street Corp now owns 1,436,174 shares of the company’s stock valued at $185,035,000 after buying an additional 45,281 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Lancaster Colony Corporation by 4.0% in the first quarter. Renaissance Technologies LLC now owns 610,500 shares of the company’s stock valued at $78,657,000 after buying an additional 23,500 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of 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. Hedge funds and other institutional investors own 49.20% of the company’s stock.

Lancaster Colony Corporation (NASDAQ:LANC) opened at 116.47 on Friday. The firm’s 50-day moving average price is $123.14 and its 200 day moving average price is $126.74. Lancaster Colony Corporation has a 12 month low of $113.33 and a 12 month high of $149.30. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 27.21 and a beta of 1.02.

Lancaster Colony Corporation (NASDAQ:LANC) last issued its quarterly earnings data on Thursday, August 17th. The company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by $0.08. Lancaster Colony Corporation had a net margin of 9.82% and a return on equity of 23.80%. The company had revenue of $289.90 million for the quarter, compared to the consensus estimate of $295.05 million. During the same period in the previous year, the business earned $1.12 EPS. Lancaster Colony Corporation’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts anticipate that Lancaster Colony Corporation will post $4.84 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Thursday, September 7th. Lancaster Colony Corporation’s payout ratio is currently 51.28%.

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LANC has been the topic of several recent analyst reports. Wedbush reiterated a “buy” rating on shares of Lancaster Colony Corporation in a report on Friday. Vertical Group upgraded shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating and lifted their price target for the company from $123.00 to $146.00 in a report on Tuesday, May 30th. Zacks Investment Research upgraded shares of Lancaster Colony Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Vertical Research upgraded shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating in a report on Friday, May 26th. Finally, BidaskClub raised Lancaster Colony Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $152.00.

About Lancaster Colony Corporation

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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