Signaturefd LLC Lowers Stock Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Signaturefd LLC lessened its holdings in Lancaster Colony Co. (NASDAQ:LANC) by 14.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,293 shares of the company’s stock after selling 211 shares during the quarter. Signaturefd LLC’s holdings in Lancaster Colony were worth $224,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Eagle Bay Advisors LLC purchased a new position in shares of Lancaster Colony in the fourth quarter worth about $38,000. GAMMA Investing LLC lifted its position in Lancaster Colony by 56.4% in the fourth quarter. GAMMA Investing LLC now owns 280 shares of the company’s stock valued at $48,000 after purchasing an additional 101 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Lancaster Colony by 1,078.9% during the fourth quarter. Farther Finance Advisors LLC now owns 448 shares of the company’s stock valued at $78,000 after purchasing an additional 410 shares during the period. KBC Group NV grew its holdings in shares of Lancaster Colony by 80.4% in the fourth quarter. KBC Group NV now owns 893 shares of the company’s stock worth $155,000 after purchasing an additional 398 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Lancaster Colony by 62.1% in the fourth quarter. Blue Trust Inc. now owns 932 shares of the company’s stock worth $165,000 after buying an additional 357 shares during the period. 66.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LANC has been the topic of a number of recent analyst reports. DA Davidson raised their price target on shares of Lancaster Colony from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. StockNews.com upgraded Lancaster Colony from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Stephens increased their price objective on Lancaster Colony from $196.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $211.33.

Insider Transactions at Lancaster Colony

In other news, CEO David Alan Ciesinski sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $191.19, for a total value of $3,250,230.00. Following the sale, the chief executive officer now directly owns 54,644 shares of the company’s stock, valued at $10,447,386.36. The trade was a 23.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 29.50% of the company’s stock.

Lancaster Colony Price Performance

Shares of NASDAQ LANC opened at $175.33 on Friday. Lancaster Colony Co. has a 1 year low of $163.20 and a 1 year high of $209.08. The company’s 50-day moving average is $182.12 and its 200 day moving average is $181.28. The stock has a market capitalization of $4.83 billion, a P/E ratio of 30.81 and a beta of 0.31.

Lancaster Colony (NASDAQ:LANC) last announced its earnings results on Tuesday, February 4th. The company reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.28. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The firm had revenue of $509.30 million during the quarter, compared to analyst estimates of $495.43 million. During the same quarter in the prior year, the company earned $1.87 EPS. The business’s revenue was up 4.8% compared to the same quarter last year. Research analysts anticipate that Lancaster Colony Co. will post 6.8 earnings per share for the current year.

Lancaster Colony Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, March 7th. Lancaster Colony’s dividend payout ratio (DPR) is presently 66.78%.

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.