1,180 Shares in Lancaster Colony Co. (NASDAQ:LANC) Bought by New Covenant Trust Company N.A.

New Covenant Trust Company N.A. bought a new position in shares of Lancaster Colony Co. (NASDAQ:LANC) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,180 shares of the company’s stock, valued at approximately $245,000.

A number of other institutional investors have also added to or reduced their stakes in LANC. Capstone Investment Advisors LLC bought a new stake in shares of Lancaster Colony during the 1st quarter worth $864,000. Susquehanna Fundamental Investments LLC bought a new position in Lancaster Colony during the 1st quarter worth approximately $868,000. Mesirow Institutional Investment Management Inc. increased its stake in Lancaster Colony by 72.6% in the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 86,280 shares of the company’s stock worth $14,356,000 after purchasing an additional 36,291 shares during the period. Foguth Wealth Management LLC. bought a new stake in Lancaster Colony in the first quarter valued at approximately $862,000. Finally, Benjamin F. Edwards & Company Inc. bought a new position in shares of Lancaster Colony in the fourth quarter worth approximately $2,445,000. 66.44% of the stock is currently owned by institutional investors.

Lancaster Colony Price Performance

Lancaster Colony stock traded down $2.39 during mid-day trading on Thursday, reaching $190.67. 125,109 shares of the company traded hands, compared to its average volume of 124,971. The firm’s 50 day moving average price is $186.84 and its 200 day moving average price is $191.60. Lancaster Colony Co. has a 52-week low of $158.88 and a 52-week high of $215.31. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 40.05 and a beta of 0.37.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Thursday, May 2nd. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.02. Lancaster Colony had a net margin of 7.10% and a return on equity of 18.96%. The company had revenue of $471.40 million during the quarter, compared to the consensus estimate of $467.90 million. During the same period in the prior year, the firm earned $0.89 earnings per share. Lancaster Colony’s revenue was up 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Lancaster Colony Co. will post 6.45 EPS for the current year.

Lancaster Colony Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.60 annualized dividend and a dividend yield of 1.89%. Lancaster Colony’s dividend payout ratio is presently 74.69%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LANC. StockNews.com raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Stephens reiterated an “equal weight” rating and set a $218.00 target price on shares of Lancaster Colony in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $198.75.

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.