Wealthfront Advisers LLC Invests $318,000 in Lancaster Colony Co. (NASDAQ:LANC)

Wealthfront Advisers LLC bought a new position in Lancaster Colony Co. (NASDAQ:LANC) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,836 shares of the company’s stock, valued at approximately $318,000.

Several other large investors have also recently made changes to their positions in LANC. Atria Investments Inc increased its holdings in shares of Lancaster Colony by 2.5% in the third quarter. Atria Investments Inc now owns 4,060 shares of the company’s stock worth $717,000 after purchasing an additional 98 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Lancaster Colony by 29.4% in the third quarter. Crossmark Global Holdings Inc. now owns 1,676 shares of the company’s stock worth $296,000 after acquiring an additional 381 shares in the last quarter. Victory Capital Management Inc. grew its position in Lancaster Colony by 14.2% in the third quarter. Victory Capital Management Inc. now owns 4,782 shares of the company’s stock worth $844,000 after acquiring an additional 596 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Lancaster Colony by 8.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 6,935 shares of the company’s stock worth $1,225,000 after acquiring an additional 519 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in Lancaster Colony in the third quarter worth about $2,244,000. 66.44% of the stock is owned by institutional investors.

Lancaster Colony Price Performance

Shares of NASDAQ:LANC opened at $183.21 on Tuesday. Lancaster Colony Co. has a 1 year low of $163.20 and a 1 year high of $209.08. The business has a 50 day simple moving average of $181.43 and a two-hundred day simple moving average of $181.26. The firm has a market capitalization of $5.05 billion, a PE ratio of 32.20 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, beating 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 business had revenue of $509.30 million during the quarter, compared to analyst estimates of $495.43 million. During the same quarter in the previous year, the business earned $1.87 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities research analysts expect that Lancaster Colony Co. will post 6.8 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, March 7th. Lancaster Colony’s dividend payout ratio is presently 66.78%.

Insider Activity

In other news, CEO David Alan Ciesinski sold 17,000 shares of Lancaster Colony stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,250,230.00. Following the completion of the sale, the chief executive officer now owns 54,644 shares of the company’s stock, valued at approximately $10,447,386.36. The trade was a 23.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 29.50% of the company’s stock.

Wall Street Analysts Forecast Growth

LANC has been the subject of several recent research reports. DA Davidson lifted their price target on Lancaster Colony from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. StockNews.com upgraded Lancaster Colony from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Stephens lifted their price target on Lancaster Colony from $196.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Lancaster Colony presently has a consensus rating of “Hold” and an average price target of $211.33.

Lancaster Colony Company 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.