Mutual of America Capital Management LLC Reduces Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Mutual of America Capital Management LLC lowered its stake in shares of Lancaster Colony Co. (NASDAQ:LANCGet Rating) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,563 shares of the company’s stock after selling 1,516 shares during the period. Mutual of America Capital Management LLC owned 0.06% of Lancaster Colony worth $2,133,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Eagle Asset Management Inc. lifted its position in shares of Lancaster Colony by 13.3% during the second quarter. Eagle Asset Management Inc. now owns 28,747 shares of the company’s stock worth $3,702,000 after acquiring an additional 3,370 shares in the last quarter. California Public Employees Retirement System raised its position in Lancaster Colony by 36.9% during the second quarter. California Public Employees Retirement System now owns 56,991 shares of the company’s stock valued at $7,339,000 after purchasing an additional 15,371 shares in the last quarter. Principal Financial Group Inc. raised its position in Lancaster Colony by 14.5% during the second quarter. Principal Financial Group Inc. now owns 78,679 shares of the company’s stock valued at $10,132,000 after purchasing an additional 9,975 shares in the last quarter. Cerity Partners LLC purchased a new stake in Lancaster Colony during the second quarter valued at about $417,000. Finally, Duality Advisers LP bought a new position in shares of Lancaster Colony during the second quarter valued at about $570,000. Hedge funds and other institutional investors own 61.28% of the company’s stock.

Wall Street Analysts Forecast Growth

LANC has been the subject of several research analyst reports. StockNews.com initiated coverage on shares of Lancaster Colony in a report on Wednesday, October 12th. They issued a “hold” rating for the company. TheStreet raised shares of Lancaster Colony from a “c” rating to a “b” rating in a research report on Monday, August 29th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $153.67.

Lancaster Colony Trading Down 0.8 %

Shares of NASDAQ:LANC opened at $203.58 on Thursday. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 58.17 and a beta of 0.18. Lancaster Colony Co. has a 12 month low of $116.85 and a 12 month high of $214.00. The firm’s 50-day moving average is $177.50 and its 200 day moving average is $151.32.

Lancaster Colony (NASDAQ:LANCGet Rating) last issued its earnings results on Thursday, August 25th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.85. Lancaster Colony had a net margin of 5.64% and a return on equity of 14.40%. The business had revenue of $452.40 million for the quarter, compared to the consensus estimate of $415.53 million. During the same period in the prior year, the firm earned $1.15 EPS. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, equities analysts forecast that Lancaster Colony Co. will post 5.69 EPS for the current fiscal year.

Lancaster Colony Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Monday, December 5th will be given a dividend of $0.85 per share. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, December 2nd. This represents a $3.40 dividend on an annualized basis and a yield of 1.67%. Lancaster Colony’s dividend payout ratio is presently 91.43%.

Insiders Place Their Bets

In related news, CEO David Alan Ciesinski sold 2,225 shares of the firm’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $209.16, for a total transaction of $465,381.00. Following the completion of the transaction, the chief executive officer now owns 48,374 shares of the company’s stock, valued at $10,117,905.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider David S. Nagle sold 1,369 shares of the firm’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $169.02, for a total transaction of $231,388.38. Following the sale, the insider now owns 7,614 shares in the company, valued at $1,286,918.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David Alan Ciesinski sold 2,225 shares of the firm’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $209.16, for a total transaction of $465,381.00. Following the sale, the chief executive officer now owns 48,374 shares in the company, valued at approximately $10,117,905.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,240 shares of company stock valued at $2,485,516. Insiders own 29.90% of the company’s stock.

Lancaster Colony Profile

(Get Rating)

Lancaster Colony Corporation engages in the manufacturing and marketing of food products for the retail and foodservice markets 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; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti; and frozen pasta under the Marzetti Frozen Pasta brand.

See Also

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

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