Arizona State Retirement System Has $1.04 Million Position in Lancaster Colony Corporation (LANC)

Arizona State Retirement System raised its position in Lancaster Colony Corporation (NASDAQ:LANC) by 7.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,100 shares of the company’s stock after buying an additional 595 shares during the period. Arizona State Retirement System’s holdings in Lancaster Colony Corporation were worth $1,044,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LANC. Schroder Investment Management Group increased its stake in Lancaster Colony Corporation by 29.8% in the first quarter. Schroder Investment Management Group now owns 9,486 shares of the company’s stock worth $1,224,000 after buying an additional 2,178 shares during the period. Clinton Group Inc. increased its stake in Lancaster Colony Corporation by 788.7% in the first quarter. Clinton Group Inc. now owns 25,674 shares of the company’s stock worth $3,308,000 after buying an additional 22,785 shares during the period. SG Americas Securities LLC increased its stake in Lancaster Colony Corporation by 78.9% in the first quarter. SG Americas Securities LLC now owns 4,560 shares of the company’s stock worth $588,000 after buying an additional 2,011 shares during the period. Stifel Financial Corp acquired a new stake in Lancaster Colony Corporation during the first quarter worth $261,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in Lancaster Colony Corporation by 217.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 27,163 shares of the company’s stock worth $3,500,000 after buying an additional 18,619 shares during the period. 50.97% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Lancaster Colony Corporation (NASDAQ:LANC)

Shares of Lancaster Colony Corporation (NASDAQ:LANC) opened at 125.95 on Tuesday. The company’s 50 day moving average is $124.39 and its 200-day moving average is $131.43. The company has a market capitalization of $3.46 billion, a P/E ratio of 29.43 and a beta of 1.03. Lancaster Colony Corporation has a 1-year low of $117.50 and a 1-year high of $149.30.

Lancaster Colony Corporation (NASDAQ:LANC) last posted its earnings results on Thursday, April 27th. The company reported $0.95 EPS for the quarter, missing the consensus estimate of $1.09 by $0.14. Lancaster Colony Corporation had a return on equity of 23.80% and a net margin of 9.82%. The business had revenue of $293.83 million for the quarter, compared to analyst estimates of $286.37 million. During the same quarter in the prior year, the business earned $1.06 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Lancaster Colony Corporation will post $4.71 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 8th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, June 6th. This represents a $2.20 annualized dividend and a yield of 1.75%. Lancaster Colony Corporation’s dividend payout ratio is presently 51.28%.

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A number of research firms recently weighed in on LANC. Vertical Group raised shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating and boosted their price target for the stock from $123.00 to $146.00 in a research note on Tuesday, May 30th. Vertical Research raised shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating in a research note on Friday, May 26th. Zacks Investment Research downgraded shares of Lancaster Colony Corporation from a “hold” rating to a “sell” rating in a research note on Monday, May 1st. Finally, Wedbush reissued an “outperform” rating and set a $160.00 price target on shares of Lancaster Colony Corporation in a research note on Monday, April 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $147.20.

Lancaster Colony Corporation Company Profile

Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:LANC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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