Lancaster Colony Co. (NASDAQ:LANC) Stake Reduced by WCM Investment Management LLC

WCM Investment Management LLC decreased its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,591 shares of the company’s stock after selling 5,916 shares during the period. WCM Investment Management LLC’s holdings in Lancaster Colony were worth $18,282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in LANC. V Square Quantitative Management LLC acquired a new stake in shares of Lancaster Colony during the third quarter worth $27,000. Eagle Bay Advisors LLC purchased a new position in shares of Lancaster Colony in the fourth quarter worth approximately $38,000. GAMMA Investing LLC lifted its position in shares of Lancaster Colony by 56.4% in the 4th quarter. GAMMA Investing LLC now owns 280 shares of the company’s stock valued at $48,000 after acquiring an additional 101 shares in the last quarter. KBC Group NV grew its position in Lancaster Colony by 80.4% during the 4th quarter. KBC Group NV now owns 893 shares of the company’s stock worth $155,000 after purchasing an additional 398 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Lancaster Colony by 62.1% during the 4th quarter. Blue Trust Inc. now owns 932 shares of the company’s stock valued at $165,000 after purchasing an additional 357 shares during the period. Institutional investors and hedge funds own 66.44% of the company’s stock.

Lancaster Colony Trading Up 0.6 %

LANC opened at $188.71 on Friday. Lancaster Colony Co. has a 1-year low of $163.20 and a 1-year high of $209.81. The business has a 50 day moving average of $177.63 and a 200-day moving average of $180.94. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 33.17 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $2.22 EPS for the quarter, beating the consensus estimate of $1.94 by $0.28. The firm had revenue of $509.30 million during the quarter, compared to analysts’ expectations of $495.43 million. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.87 EPS. Equities analysts predict that Lancaster Colony Co. will post 6.64 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LANC. Benchmark reissued a “hold” rating on shares of Lancaster Colony in a research note on Tuesday, November 19th. Loop Capital decreased their price target on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a report on Friday, November 1st. Stephens upped their price objective on shares of Lancaster Colony from $196.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, StockNews.com raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Thursday.

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.