Landscape Capital Management L.L.C. Buys New Shares in Lancaster Colony Co. (NASDAQ:LANC)

Landscape Capital Management L.L.C. purchased a new stake in shares of Lancaster Colony Co. (NASDAQ:LANC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 21,819 shares of the company’s stock, valued at approximately $3,853,000.

Other large investors have also recently bought and sold shares of the company. Consolidated Planning Corp boosted its position in shares of Lancaster Colony by 4.5% during the 2nd quarter. Consolidated Planning Corp now owns 1,232 shares of the company’s stock valued at $233,000 after purchasing an additional 53 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in Lancaster Colony by 2.3% in the third quarter. Asset Management One Co. Ltd. now owns 2,506 shares of the company’s stock valued at $442,000 after buying an additional 57 shares during the period. Creative Financial Designs Inc. ADV boosted its holdings in shares of Lancaster Colony by 1.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,805 shares of the company’s stock worth $672,000 after buying an additional 67 shares in the last quarter. AlphaMark Advisors LLC grew its position in shares of 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 buying an additional 83 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Lancaster Colony by 0.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 15,179 shares of the company’s stock valued at $2,868,000 after acquiring an additional 87 shares in the last quarter. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Lancaster Colony Price Performance

NASDAQ:LANC opened at $179.50 on Thursday. Lancaster Colony Co. has a one year low of $161.54 and a one year high of $215.31. The company has a market cap of $4.95 billion, a PE ratio of 31.06 and a beta of 0.35. The firm has a 50-day moving average of $181.11 and a 200-day moving average of $184.73.

Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.08). Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The company had revenue of $466.56 million for the quarter, compared to the consensus estimate of $468.36 million. During the same period in the prior year, the firm posted $1.70 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts expect that Lancaster Colony Co. will post 6.72 earnings per share for the current fiscal year.

Lancaster Colony Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, December 5th will be issued a dividend of $0.95 per share. This is a positive change from Lancaster Colony’s previous quarterly dividend of $0.90. This represents a $3.80 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, December 5th. Lancaster Colony’s dividend payout ratio (DPR) is 62.28%.

Wall Street Analyst Weigh In

A number of research firms have commented on LANC. StockNews.com cut shares of Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Stephens restated an “equal weight” rating and issued a $196.00 target price on shares of Lancaster Colony in a research note on Tuesday. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a research report on Tuesday. Finally, Loop Capital cut their price target on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Lancaster Colony presently has an average rating of “Hold” and a consensus target price of $193.50.

Insiders Place Their Bets

In related news, Director Elliot K. Fullen purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average cost of $169.00 per share, with a total value of $507,000.00. Following the acquisition, the director now owns 5,298 shares of the company’s stock, valued at $895,362. This represents a 130.55 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 29.50% of the company’s stock.

Lancaster Colony Company 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.