Mitsubishi UFJ Asset Management UK Ltd. Has $745,000 Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Mitsubishi UFJ Asset Management UK Ltd. trimmed its stake in shares of Lancaster Colony Co. (NASDAQ:LANC) by 18.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 4,300 shares of the company’s stock after selling 1,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Lancaster Colony were worth $745,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Lancaster Colony in the third quarter valued at about $27,000. Eagle Bay Advisors LLC bought a new stake in Lancaster Colony during the fourth quarter worth $38,000. GAMMA Investing LLC grew its position in Lancaster Colony by 56.4% during the fourth quarter. GAMMA Investing LLC now owns 280 shares of the company’s stock valued at $48,000 after buying an additional 101 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Lancaster Colony during the 2nd quarter valued at approximately $74,000. Finally, nVerses Capital LLC raised its stake in shares of Lancaster Colony by 66.7% in the third quarter. nVerses Capital LLC now owns 1,000 shares of the company’s stock valued at $177,000 after buying an additional 400 shares during the period. 66.44% of the stock is owned by institutional investors.

Lancaster Colony Stock Performance

Shares of Lancaster Colony stock opened at $175.91 on Wednesday. Lancaster Colony Co. has a 52-week low of $163.20 and a 52-week high of $215.31. The stock has a market capitalization of $4.85 billion, a PE ratio of 30.43 and a beta of 0.36. The company has a 50-day simple moving average of $180.19 and a two-hundred day simple moving average of $181.94.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.08). The company had revenue of $466.56 million for the quarter, compared to the consensus estimate of $468.36 million. Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.70 earnings per share. As a group, equities research analysts forecast that Lancaster Colony Co. will post 6.7 EPS for the current fiscal year.

Lancaster Colony Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, December 5th were paid a dividend of $0.95 per share. This is a positive change from Lancaster Colony’s previous quarterly dividend of $0.90. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Thursday, December 5th. Lancaster Colony’s dividend payout ratio (DPR) is currently 65.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th. Stephens reissued an “equal weight” rating and set a $196.00 price objective on shares of Lancaster Colony in a report on Tuesday, November 19th. Finally, Loop Capital lowered their price target on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research note on Friday, November 1st.

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.