Corient Private Wealth LLC Sells 813 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Corient Private Wealth LLC decreased its position in Lancaster Colony Co. (NASDAQ:LANC) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 36,000 shares of the company’s stock after selling 813 shares during the quarter. Corient Private Wealth LLC’s holdings in Lancaster Colony were worth $6,233,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC bought a new stake in Lancaster Colony in the 4th quarter worth approximately $38,000. GAMMA Investing LLC increased its stake in Lancaster Colony by 56.4% in the 4th quarter. GAMMA Investing LLC now owns 280 shares of the company’s stock worth $48,000 after acquiring an additional 101 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Lancaster Colony by 1,078.9% in the 4th quarter. Farther Finance Advisors LLC now owns 448 shares of the company’s stock worth $78,000 after purchasing an additional 410 shares during the period. KBC Group NV boosted its holdings in shares of Lancaster Colony by 80.4% in the 4th quarter. KBC Group NV now owns 893 shares of the company’s stock worth $155,000 after purchasing an additional 398 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Lancaster Colony by 62.1% in the 4th quarter. Blue Trust Inc. now owns 932 shares of the company’s stock worth $165,000 after purchasing an additional 357 shares during the period. Institutional investors own 66.44% of the company’s stock.

Lancaster Colony Stock Up 0.7 %

LANC opened at $175.33 on Friday. The business has a fifty day moving average of $182.12 and a 200 day moving average of $181.28. Lancaster Colony Co. has a 52-week low of $163.20 and a 52-week high of $209.08. The stock has a market cap of $4.83 billion, a P/E ratio of 30.81 and a beta of 0.31.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.28. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The company had revenue of $509.30 million during the quarter, compared to analysts’ expectations of $495.43 million. During the same quarter in the previous year, the business earned $1.87 EPS. Lancaster Colony’s revenue was up 4.8% compared to the same quarter last year. Equities analysts anticipate that Lancaster Colony Co. will post 6.8 EPS for the current fiscal year.

Lancaster Colony Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, March 7th. Lancaster Colony’s dividend payout ratio (DPR) is presently 66.78%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LANC. StockNews.com upgraded Lancaster Colony from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Stephens lifted their target price on Lancaster Colony from $196.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Finally, DA Davidson lifted their target price on Lancaster Colony from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $211.33.

Insider Buying and Selling at Lancaster Colony

In other Lancaster Colony news, CEO David Alan Ciesinski sold 17,000 shares of Lancaster Colony stock in a transaction on Thursday, February 13th. The stock was 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 of the company’s stock, valued at $10,447,386.36. The trade was a 23.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 29.50% of the stock is currently owned by corporate insiders.

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.