XTX Topco Ltd Has $430,000 Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

XTX Topco Ltd trimmed its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC) by 7.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,438 shares of the company’s stock after selling 186 shares during the period. XTX Topco Ltd’s holdings in Lancaster Colony were worth $430,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in Lancaster Colony during the third quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Lancaster Colony in the 2nd quarter worth about $74,000. nVerses Capital LLC acquired a new position in Lancaster Colony in the 2nd quarter worth about $113,000. UMB Bank n.a. increased its position in Lancaster Colony by 10.8% in the 3rd quarter. UMB Bank n.a. now owns 1,055 shares of the company’s stock worth $186,000 after purchasing an additional 103 shares during the last quarter. Finally, Olympiad Research LP acquired a new position in Lancaster Colony in the 3rd quarter worth about $210,000. 66.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. StockNews.com lowered Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Loop Capital dropped their target price on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Stephens reiterated an “equal weight” rating and set a $196.00 price target on shares of Lancaster Colony in a research note on Tuesday, November 19th.

Lancaster Colony Stock Performance

LANC opened at $198.10 on Friday. The company has a market cap of $5.46 billion, a PE ratio of 34.27 and a beta of 0.35. The stock has a 50-day moving average of $184.23 and a 200-day moving average of $184.24. Lancaster Colony Co. has a 52-week low of $161.54 and a 52-week high of $215.31.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results 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). The company had revenue of $466.56 million for the quarter, compared to the consensus estimate of $468.36 million. Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.70 EPS. On average, research analysts predict that Lancaster Colony Co. will post 6.7 earnings per share for the current year.

Lancaster Colony Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, December 5th will be paid a dividend of $0.95 per share. This is an increase from Lancaster Colony’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.80 annualized dividend and a yield of 1.92%. Lancaster Colony’s dividend payout ratio is presently 65.74%.

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.