Schwab Charles Investment Management Inc. raised its stake in shares of Lancaster Colony Corp. (NASDAQ:LANC) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,550 shares of the company’s stock after buying an additional 3,234 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.47% of Lancaster Colony Corp. worth $16,692,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the stock. Dynamic Technology Lab Private Ltd raised its position in Lancaster Colony Corp. by 34.3% in the first quarter. Dynamic Technology Lab Private Ltd now owns 3,873 shares of the company’s stock valued at $499,000 after buying an additional 989 shares during the period. Citadel Advisors LLC bought a new position in Lancaster Colony Corp. during the first quarter valued at about $691,000. Teachers Advisors LLC increased its position in Lancaster Colony Corp. by 0.4% in the first quarter. Teachers Advisors LLC now owns 155,018 shares of the company’s stock valued at $19,973,000 after buying an additional 566 shares in the last quarter. Norges Bank bought a new position in Lancaster Colony Corp. during the fourth quarter valued at about $26,849,000. Finally, Ameriprise Financial Inc. increased its position in Lancaster Colony Corp. by 3.5% in the first quarter. Ameriprise Financial Inc. now owns 68,026 shares of the company’s stock valued at $8,764,000 after buying an additional 2,280 shares in the last quarter. 50.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lancaster Colony Corp. (NASDAQ LANC) traded down 0.55% on Friday, reaching $122.94. 71,483 shares of the company’s stock were exchanged. Lancaster Colony Corp. has a 1-year low of $117.50 and a 1-year high of $149.30. The company has a market capitalization of $3.37 billion, a P/E ratio of 28.72 and a beta of 1.02. The stock’s 50-day moving average price is $124.03 and its 200-day moving average price is $128.00.
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Several equities analysts have issued reports on LANC shares. Vertical Group upgraded shares of Lancaster Colony Corp. from a “hold” rating to a “buy” rating and upped their price objective for the company from $123.00 to $146.00 in a research note on Tuesday, May 30th. Zacks Investment Research upgraded shares of Lancaster Colony Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Wedbush restated an “outperform” rating and issued a $160.00 price objective on shares of Lancaster Colony Corp. in a research report on Monday, April 24th. Finally, Vertical Research upgraded shares of Lancaster Colony Corp. from a “hold” rating to a “buy” rating in a research report on Friday, May 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Lancaster Colony Corp. presently has an average rating of “Buy” and an average target price of $147.20.
Lancaster Colony Corp. 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.
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