Schwab Charles Investment Management Inc. increased its position in shares of Lancaster Colony Corporation (NASDAQ:LANC) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 Corporation worth $16,692,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisory Services Network LLC bought a new position in Lancaster Colony Corporation during the first quarter worth approximately $129,000. Harfst & Associates Inc. bought a new position in Lancaster Colony Corporation during the first quarter worth approximately $174,000. Credit Agricole S A increased its position in Lancaster Colony Corporation by 4.5% in the first quarter. Credit Agricole S A now owns 1,522 shares of the company’s stock worth $196,000 after buying an additional 66 shares during the period. Stifel Financial Corp acquired a new position in Lancaster Colony Corporation during the first quarter worth about $261,000. Finally, Numeric Investors LLC acquired a new position in Lancaster Colony Corporation during the fourth quarter worth about $283,000. Hedge funds and other institutional investors own 50.48% of the company’s stock.
Lancaster Colony Corporation (LANC) opened at 122.00 on Wednesday. Lancaster Colony Corporation has a 52-week low of $117.50 and a 52-week high of $149.30. The company has a market capitalization of $3.35 billion, a P/E ratio of 28.50 and a beta of 1.02. The stock has a 50 day moving average of $124.30 and a 200-day moving average of $130.75.
Lancaster Colony Corporation (NASDAQ:LANC) last announced its quarterly earnings results on Thursday, April 27th. The company reported $0.95 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by $0.14. The business had revenue of $293.83 million during the quarter, compared to the consensus estimate of $286.37 million. Lancaster Colony Corporation had a net margin of 9.82% and a return on equity of 23.80%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $1.06 EPS. On average, equities analysts forecast that Lancaster Colony Corporation will post $4.71 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 8th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, June 6th. Lancaster Colony Corporation’s dividend payout ratio (DPR) is presently 51.28%.
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A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Lancaster Colony Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Vertical Group upgraded shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating and raised their price target for the stock from $123.00 to $146.00 in a research report on Tuesday, May 30th. Vertical Research upgraded shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating in a research report on Friday, May 26th. Finally, Wedbush restated an “outperform” rating and issued a $160.00 price target on shares of Lancaster Colony Corporation in a research report on Monday, April 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target 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.
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