F M Investments LLC Sells 105 Shares of Lancaster Colony Co. (NASDAQ:LANC)

F M Investments LLC reduced its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,216 shares of the company’s stock after selling 105 shares during the period. F M Investments LLC owned about 0.15% of Lancaster Colony worth $7,455,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LANC. V Square Quantitative Management LLC purchased a new stake in shares of Lancaster Colony in the 3rd quarter worth $27,000. Opal Wealth Advisors LLC bought a new position in shares of Lancaster Colony in the second quarter worth approximately $28,000. GAMMA Investing LLC increased its stake in shares of Lancaster Colony by 115.9% in the second quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock worth $33,000 after purchasing an additional 95 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Lancaster Colony during the 2nd quarter valued at $38,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Lancaster Colony during the 2nd quarter valued at $74,000. 66.44% of the stock is currently owned by institutional investors.

Lancaster Colony Stock Performance

NASDAQ LANC opened at $180.47 on Friday. Lancaster Colony Co. has a fifty-two week low of $161.54 and a fifty-two week high of $215.31. The business’s 50 day moving average price is $177.14 and its 200-day moving average price is $184.67. The company has a market cap of $4.98 billion, a P/E ratio of 31.22 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.08). Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The firm had revenue of $466.56 million during the quarter, compared to the consensus estimate of $468.36 million. During the same period in the previous year, the business earned $1.70 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts predict that Lancaster Colony Co. will post 6.99 EPS for the current year.

Lancaster Colony Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $3.60 annualized dividend and a dividend yield of 1.99%. Lancaster Colony’s dividend payout ratio (DPR) is 62.28%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Loop Capital cut their target price on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research report on Friday. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research report on Friday. StockNews.com lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Finally, Stephens reduced their price target on shares of Lancaster Colony from $200.00 to $196.00 and set an “equal weight” rating on the stock in a report on Friday. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Lancaster Colony has a consensus rating of “Hold” and an average price target of $193.50.

Insider Activity

In related news, Director Elliot K. Fullen purchased 3,000 shares of Lancaster Colony stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average price of $169.00 per share, with a total value of $507,000.00. Following the purchase, the director now directly owns 5,298 shares of the company’s stock, valued at approximately $895,362. This represents a 100.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 29.50% of the company’s stock.

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.