Point72 Asia Singapore Pte. Ltd. Has $684,000 Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Point72 Asia Singapore Pte. Ltd. increased its position in Lancaster Colony Co. (NASDAQ:LANC) by 883.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,874 shares of the company’s stock after purchasing an additional 3,480 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Lancaster Colony were worth $684,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LANC. V Square Quantitative Management LLC acquired a new stake in Lancaster Colony in the third quarter worth about $27,000. Opal Wealth Advisors LLC acquired a new stake in Lancaster Colony in the second quarter worth about $28,000. GAMMA Investing LLC increased its position in Lancaster Colony by 115.9% in the second quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock worth $33,000 after purchasing an additional 95 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Lancaster Colony in the second quarter worth about $38,000. Finally, nVerses Capital LLC acquired a new stake in Lancaster Colony in the second quarter worth about $113,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LANC shares. Loop Capital decreased their target price on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research report on Friday, November 1st. StockNews.com lowered Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Stephens restated an “equal weight” rating and set a $196.00 target price on shares of Lancaster Colony in a research report on Tuesday, November 19th. Finally, Benchmark restated a “hold” rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $202.67.

Lancaster Colony Price Performance

NASDAQ:LANC opened at $185.84 on Monday. Lancaster Colony Co. has a fifty-two week low of $161.54 and a fifty-two week high of $215.31. The stock has a market capitalization of $5.12 billion, a PE ratio of 32.15 and a beta of 0.35. The business’s 50-day simple moving average is $182.06 and its 200-day simple moving average is $184.19.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.08). Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The business had revenue of $466.56 million for the quarter, compared to the consensus estimate of $468.36 million. During the same quarter last year, the firm earned $1.70 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, research analysts expect that Lancaster Colony Co. will post 6.72 earnings per share for the current year.

Lancaster Colony Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, December 5th. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.90. Lancaster Colony’s payout ratio is 62.28%.

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.