Eagle Bay Advisors LLC Purchases Shares of 219 Lancaster Colony Co. (NASDAQ:LANC)

Eagle Bay Advisors LLC acquired a new position in shares of Lancaster Colony Co. (NASDAQ:LANC) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 219 shares of the company’s stock, valued at approximately $38,000.

Other large investors have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in Lancaster Colony during the third quarter valued at about $27,000. GAMMA Investing LLC grew its holdings in shares of Lancaster Colony by 56.4% during the 4th quarter. GAMMA Investing LLC now owns 280 shares of the company’s stock worth $48,000 after purchasing an additional 101 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Lancaster Colony during the 2nd quarter worth approximately $74,000. nVerses Capital LLC raised its holdings in Lancaster Colony by 66.7% in the third quarter. nVerses Capital LLC now owns 1,000 shares of the company’s stock valued at $177,000 after buying an additional 400 shares during the period. Finally, UMB Bank n.a. lifted its position in Lancaster Colony by 10.8% during the third quarter. UMB Bank n.a. now owns 1,055 shares of the company’s stock valued at $186,000 after buying an additional 103 shares in the last quarter. 66.44% of the stock is owned by hedge funds and other institutional investors.

Lancaster Colony Trading Up 0.8 %

Shares of LANC stock opened at $168.09 on Tuesday. The firm has a fifty day simple moving average of $182.82 and a 200-day simple moving average of $182.65. The company has a market capitalization of $4.63 billion, a PE ratio of 29.08 and a beta of 0.36. Lancaster Colony Co. has a twelve month low of $163.20 and a twelve month high of $215.31.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.08). Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The firm had revenue of $466.56 million during the quarter, compared to analysts’ expectations of $468.36 million. During the same period in the previous year, the company earned $1.70 earnings per share. The business’s quarterly revenue was up 1.1% on a year-over-year basis. Equities research analysts predict that Lancaster Colony Co. will post 6.7 EPS for the current year.

Lancaster Colony Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Thursday, December 5th were issued a dividend of $0.95 per share. The ex-dividend date was Thursday, December 5th. This is an increase from Lancaster Colony’s previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a yield of 2.26%. Lancaster Colony’s payout ratio is currently 65.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on LANC shares. Loop Capital dropped their price objective on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th. Finally, Stephens restated an “equal weight” rating and set a $196.00 price objective on shares of Lancaster Colony in a research note on Tuesday, November 19th.

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.