Acadian Asset Management LLC Trims Stock Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Acadian Asset Management LLC trimmed its holdings in Lancaster Colony Co. (NASDAQ:LANC) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,631 shares of the company’s stock after selling 1,413 shares during the period. Acadian Asset Management LLC’s holdings in Lancaster Colony were worth $16,947,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in LANC. First Trust Advisors LP grew its stake in Lancaster Colony by 62.9% in the 1st quarter. First Trust Advisors LP now owns 28,912 shares of the company’s stock valued at $4,530,000 after buying an additional 11,163 shares in the last quarter. Creative Planning grew its position in shares of Lancaster Colony by 10.3% during the 4th quarter. Creative Planning now owns 1,267 shares of the company’s stock valued at $233,000 after purchasing an additional 118 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Lancaster Colony by 386.4% during the 4th quarter. Victory Capital Management Inc. now owns 163,266 shares of the company’s stock valued at $29,997,000 after purchasing an additional 129,697 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Lancaster Colony by 12.5% during the 4th quarter. Parallel Advisors LLC now owns 583 shares of the company’s stock valued at $107,000 after purchasing an additional 65 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Lancaster Colony by 12.8% during the 4th quarter. California Public Employees Retirement System now owns 48,459 shares of the company’s stock valued at $8,903,000 after purchasing an additional 5,490 shares in the last quarter. Institutional investors and hedge funds own 56.72% of the company’s stock.

LANC opened at $195.15 on Friday. The firm’s fifty day moving average price is $185.82. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 38.12 and a beta of 0.17. Lancaster Colony Co. has a one year low of $146.74 and a one year high of $198.46.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Tuesday, May 4th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.21). The firm had revenue of $357.25 million for the quarter, compared to analysts’ expectations of $337.65 million. Lancaster Colony had a net margin of 10.05% and a return on equity of 17.74%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 earnings per share. As a group, equities research analysts predict that Lancaster Colony Co. will post 6.04 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Wednesday, June 9th will be given a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, June 8th. This represents a $3.00 annualized dividend and a yield of 1.54%. Lancaster Colony’s dividend payout ratio (DPR) is presently 60.85%.

Lancaster Colony Profile

Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates in two segments, Retail and Foodservice. It offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's; frozen mini stuffed bagels under the Bantam Bagels; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardini's, Tastefully Dressed, and Girard's; and vegetable and fruit dips under the Marzetti brand names.

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Institutional Ownership by Quarter for Lancaster Colony (NASDAQ:LANC)

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