Tributary Capital Management LLC Has $770,000 Position in Lancaster Colony Co. (NASDAQ:LANC)

Tributary Capital Management LLC lifted its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 46.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,446 shares of the company’s stock after acquiring an additional 1,412 shares during the period. Tributary Capital Management LLC’s holdings in Lancaster Colony were worth $770,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Wesbanco Bank Inc. boosted its holdings in shares of Lancaster Colony by 4,189.1% in the 3rd quarter. Wesbanco Bank Inc. now owns 163,800 shares of the company’s stock valued at $28,922,000 after purchasing an additional 159,981 shares in the last quarter. Wellington Management Group LLP boosted its stake in Lancaster Colony by 243.2% in the third quarter. Wellington Management Group LLP now owns 83,630 shares of the company’s stock valued at $14,767,000 after buying an additional 59,261 shares in the last quarter. Millennium Management LLC grew its position in Lancaster Colony by 1,055.2% in the second quarter. Millennium Management LLC now owns 36,090 shares of the company’s stock valued at $6,820,000 after acquiring an additional 32,966 shares during the last quarter. Barclays PLC raised its stake in Lancaster Colony by 125.5% during the third quarter. Barclays PLC now owns 44,189 shares of the company’s stock worth $7,803,000 after acquiring an additional 24,589 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Lancaster Colony in the third quarter worth about $3,853,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th. Stephens reiterated an “equal weight” rating and set a $196.00 price target on shares of Lancaster Colony in a report on Tuesday, November 19th. Finally, Loop Capital cut their price objective on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a report on Friday, November 1st.

Lancaster Colony Stock Performance

Shares of NASDAQ:LANC opened at $172.00 on Friday. Lancaster Colony Co. has a 52 week low of $163.20 and a 52 week high of $215.31. The firm has a market cap of $4.74 billion, a PE ratio of 29.76 and a beta of 0.36. The firm’s fifty day moving average is $179.20 and its 200-day moving average is $181.63.

Lancaster Colony (NASDAQ:LANC) last announced its earnings results on Thursday, October 31st. The company reported $1.62 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $468.36 million. During the same period in the previous year, the firm posted $1.70 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. Sell-side analysts forecast that Lancaster Colony Co. will post 6.7 EPS for the current year.

Lancaster Colony Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.21%. This is an increase from Lancaster Colony’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, December 5th. Lancaster Colony’s payout ratio is currently 65.74%.

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.