Alberta Investment Management Corp Grows Stake in Lancaster Colony Co. (NASDAQ:LANC)

Alberta Investment Management Corp raised its stake in shares of Lancaster Colony Co. (NASDAQ:LANC) by 36.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,800 shares of the company’s stock after purchasing an additional 5,800 shares during the period. Alberta Investment Management Corp owned 0.08% of Lancaster Colony worth $3,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Eagle Bay Advisors LLC bought a new position in shares of Lancaster Colony during the 4th quarter valued at approximately $38,000. GAMMA Investing LLC boosted its stake in Lancaster Colony by 56.4% during the fourth quarter. GAMMA Investing LLC now owns 280 shares of the company’s stock worth $48,000 after buying an additional 101 shares during the period. KBC Group NV raised its stake in shares of Lancaster Colony by 80.4% in the fourth quarter. KBC Group NV now owns 893 shares of the company’s stock valued at $155,000 after acquiring an additional 398 shares during the period. Blue Trust Inc. raised its stake in shares of Lancaster Colony by 62.1% in the fourth quarter. Blue Trust Inc. now owns 932 shares of the company’s stock valued at $165,000 after acquiring an additional 357 shares during the period. Finally, Olympiad Research LP bought a new stake in shares of Lancaster Colony in the 3rd quarter worth about $210,000. 66.44% of the stock is owned by institutional investors.

Lancaster Colony Stock Performance

Shares of NASDAQ:LANC opened at $191.61 on Friday. The firm has a market cap of $5.28 billion, a PE ratio of 33.67 and a beta of 0.35. The firm’s 50 day simple moving average is $178.17 and its 200-day simple moving average is $181.05. Lancaster Colony Co. has a one year low of $163.20 and a one year high of $209.81.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings data on Tuesday, February 4th. The company reported $2.22 EPS for the quarter, topping the consensus estimate of $1.94 by $0.28. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The company had revenue of $509.30 million for the quarter, compared to the consensus estimate of $495.43 million. During the same period last year, the business posted $1.87 EPS. Lancaster Colony’s quarterly revenue was up 4.8% on a year-over-year basis. Equities research analysts predict that Lancaster Colony Co. will post 6.8 EPS for the current fiscal year.

Lancaster Colony Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.95 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.80 annualized dividend and a dividend yield of 1.98%. Lancaster Colony’s payout ratio is currently 66.78%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Loop Capital cut their price target on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a research note on Tuesday, November 19th. DA Davidson raised their price target on Lancaster Colony from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Stephens upped their price objective on Lancaster Colony from $196.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Finally, StockNews.com upgraded Lancaster Colony from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $211.33.

Insider Buying and Selling

In related news, CEO David Alan Ciesinski sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $191.19, for a total value of $3,250,230.00. Following the completion of the transaction, the chief executive officer now owns 54,644 shares of the company’s stock, valued at $10,447,386.36. The trade was a 23.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 29.50% of the stock is owned by insiders.

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.