Virtu Financial LLC Grows Stake in Lancaster Colony Co. (NASDAQ:LANC)

Virtu Financial LLC grew its stake in shares of Lancaster Colony Co. (NASDAQ:LANC) by 14.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,762 shares of the company’s stock after acquiring an additional 220 shares during the period. Virtu Financial LLC’s holdings in Lancaster Colony were worth $305,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in Lancaster Colony by 243.2% during the third quarter. Wellington Management Group LLP now owns 83,630 shares of the company’s stock valued at $14,767,000 after purchasing an additional 59,261 shares during the period. Boston Trust Walden Corp lifted its position in shares of Lancaster Colony by 20.5% during the 4th quarter. Boston Trust Walden Corp now owns 305,264 shares of the company’s stock valued at $52,853,000 after buying an additional 52,030 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Lancaster Colony during the 4th quarter worth $8,558,000. Barclays PLC increased its holdings in Lancaster Colony by 125.5% in the 3rd quarter. Barclays PLC now owns 44,189 shares of the company’s stock worth $7,803,000 after acquiring an additional 24,589 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in Lancaster Colony by 336.2% in the 4th quarter. SG Americas Securities LLC now owns 23,393 shares of the company’s stock valued at $4,050,000 after acquiring an additional 18,030 shares during the period. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Lancaster Colony Trading Up 0.4 %

LANC stock opened at $176.44 on Friday. The firm has a 50 day moving average of $182.72 and a 200-day moving average of $181.29. The firm has a market capitalization of $4.86 billion, a P/E ratio of 31.01 and a beta of 0.31. Lancaster Colony Co. has a 12 month low of $163.20 and a 12 month high of $209.08.

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, topping the consensus estimate of $1.94 by $0.28. The business had revenue of $509.30 million for the quarter, compared to analysts’ expectations of $495.43 million. Lancaster Colony had a net margin of 8.26% and a return on equity of 19.51%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.87 EPS. Sell-side analysts predict that Lancaster Colony Co. will post 6.8 EPS for the current year.

Lancaster Colony Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Friday, March 7th. Lancaster Colony’s payout ratio is 66.78%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. DA Davidson increased their target price on shares of Lancaster Colony from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. StockNews.com upgraded shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Stephens increased their target price on Lancaster Colony from $196.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $211.33.

Insiders Place Their Bets

In other Lancaster Colony news, CEO David Alan Ciesinski sold 17,000 shares of Lancaster Colony stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,250,230.00. Following the completion of the sale, the chief executive officer now directly owns 54,644 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 29.50% of the company’s stock.

About Lancaster Colony

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.