WCM Investment Management LLC Cuts Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

WCM Investment Management LLC trimmed its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 5.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,591 shares of the company’s stock after selling 5,916 shares during the quarter. WCM Investment Management LLC owned 0.38% of Lancaster Colony worth $18,282,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Asset Management One Co. Ltd. increased its stake in Lancaster Colony by 2.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 2,506 shares of the company’s stock worth $442,000 after buying an additional 57 shares during the period. Creative Financial Designs Inc. ADV boosted its holdings in Lancaster Colony by 1.8% in the third quarter. Creative Financial Designs Inc. ADV now owns 3,805 shares of the company’s stock valued at $672,000 after purchasing an additional 67 shares during the period. Quantinno Capital Management LP grew its stake in Lancaster Colony by 0.5% during the 3rd quarter. Quantinno Capital Management LP now owns 12,568 shares of the company’s stock worth $2,219,000 after purchasing an additional 67 shares in the last quarter. AlphaMark Advisors LLC increased its holdings in Lancaster Colony by 5.2% during the 3rd quarter. AlphaMark Advisors LLC now owns 1,686 shares of the company’s stock worth $298,000 after purchasing an additional 83 shares during the period. Finally, Atria Investments Inc raised its position in Lancaster Colony by 2.5% in the 3rd quarter. Atria Investments Inc now owns 4,060 shares of the company’s stock valued at $717,000 after purchasing an additional 98 shares in the last quarter. 66.44% of the stock is currently owned by hedge funds and other institutional investors.

Lancaster Colony Stock Up 0.6 %

LANC stock opened at $188.71 on Friday. The business has a 50 day moving average price of $177.63 and a 200 day moving average price of $180.94. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 33.17 and a beta of 0.35. Lancaster Colony Co. has a fifty-two week low of $163.20 and a fifty-two week high of $209.81.

Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $495.43 million. During the same quarter in the previous year, the business earned $1.87 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Lancaster Colony Co. will post 6.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Loop Capital lowered their price objective on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research report on Friday, November 1st. StockNews.com upgraded shares of Lancaster Colony from a “hold” rating to a “buy” rating in a report on Thursday. Benchmark restated a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th. Finally, Stephens boosted their target price on shares of Lancaster Colony from $196.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday.

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.