Lancaster Colony Co. (NASDAQ:LANC) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its stake in Lancaster Colony Co. (NASDAQ:LANC) by 26.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,489 shares of the company’s stock after buying an additional 308 shares during the period. Daiwa Securities Group Inc.’s holdings in Lancaster Colony were worth $248,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in LANC. William Blair Investment Management LLC increased its position in Lancaster Colony by 12.5% in the third quarter. William Blair Investment Management LLC now owns 1,307,612 shares of the company’s stock worth $215,795,000 after buying an additional 145,560 shares during the period. Boston Trust Walden Corp increased its position in Lancaster Colony by 54.5% in the fourth quarter. Boston Trust Walden Corp now owns 319,366 shares of the company’s stock worth $53,139,000 after buying an additional 112,696 shares during the period. Victory Capital Management Inc. increased its position in Lancaster Colony by 46.0% in the third quarter. Victory Capital Management Inc. now owns 328,635 shares of the company’s stock worth $54,235,000 after buying an additional 103,550 shares during the period. Diamond Hill Capital Management Inc. increased its position in Lancaster Colony by 10.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 596,321 shares of the company’s stock worth $98,411,000 after buying an additional 56,787 shares during the period. Finally, Bernzott Capital Advisors bought a new position in shares of Lancaster Colony in the third quarter worth $8,306,000. 66.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lancaster Colony

In related news, insider Kristin Bird sold 1,207 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $192.66, for a total transaction of $232,540.62. Following the completion of the transaction, the insider now owns 3,546 shares of the company’s stock, valued at $683,172.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 29.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stephens cut Lancaster Colony from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $205.00 to $218.00 in a research note on Friday, February 2nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Lancaster Colony presently has an average rating of “Hold” and an average price target of $198.75.

Lancaster Colony Stock Performance

NASDAQ:LANC opened at $187.03 on Friday. Lancaster Colony Co. has a 1 year low of $158.88 and a 1 year high of $220.65. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 39.96 and a beta of 0.35. The business has a fifty day moving average of $199.39 and a 200-day moving average of $181.70.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.27. Lancaster Colony had a return on equity of 17.37% and a net margin of 6.92%. The company had revenue of $485.92 million during the quarter, compared to analysts’ expectations of $489.00 million. On average, equities research analysts predict that Lancaster Colony Co. will post 6.47 EPS for the current year.

Lancaster Colony Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 7th were paid a dividend of $0.90 per share. The ex-dividend date was Wednesday, March 6th. This represents a $3.60 annualized dividend and a yield of 1.92%. Lancaster Colony’s dividend payout ratio is currently 76.92%.

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.