New Age Alpha Advisors LLC Buys New Shares in Lancaster Colony Co. (NASDAQ:LANC)

New Age Alpha Advisors LLC purchased a new position in shares of Lancaster Colony Co. (NASDAQ:LANC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,464 shares of the company’s stock, valued at approximately $253,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Bay Advisors LLC bought a new stake in Lancaster Colony in the 4th quarter worth approximately $38,000. GAMMA Investing LLC lifted its holdings in shares of Lancaster Colony by 56.4% in the 4th quarter. GAMMA Investing LLC now owns 280 shares of the company’s stock worth $48,000 after acquiring an additional 101 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Lancaster Colony by 1,078.9% in the 4th quarter. Farther Finance Advisors LLC now owns 448 shares of the company’s stock valued at $78,000 after purchasing an additional 410 shares in the last quarter. KBC Group NV grew its holdings in shares of Lancaster Colony by 80.4% during the 4th quarter. KBC Group NV now owns 893 shares of the company’s stock valued at $155,000 after purchasing an additional 398 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Lancaster Colony by 62.1% in the 4th quarter. Blue Trust Inc. now owns 932 shares of the company’s stock worth $165,000 after purchasing an additional 357 shares during the period. 66.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lancaster Colony news, CEO David Alan Ciesinski sold 17,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $191.19, for a total transaction 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 approximately $10,447,386.36. This trade represents a 23.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 29.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LANC shares. StockNews.com upgraded shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. 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 report on Monday, February 10th. Finally, Stephens boosted 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Lancaster Colony currently has an average rating of “Hold” and a consensus target price of $211.33.

Lancaster Colony Price Performance

NASDAQ LANC opened at $175.20 on Wednesday. Lancaster Colony Co. has a 1 year low of $163.20 and a 1 year high of $206.95. The stock has a market capitalization of $4.83 billion, a PE ratio of 30.79 and a beta of 0.31. The business’s 50-day moving average is $182.86 and its 200 day moving average is $181.32.

Lancaster Colony (NASDAQ:LANC) last posted its earnings results on Tuesday, February 4th. The company reported $2.22 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $509.30 million for the quarter, compared to analysts’ expectations of $495.43 million. During the same period in the previous year, the firm earned $1.87 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Lancaster Colony Co. will post 6.8 earnings per share for the current year.

Lancaster Colony Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Friday, March 7th. Lancaster Colony’s dividend payout ratio is currently 66.78%.

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.