Truist Financial Corp Buys 102 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Truist Financial Corp lifted its stake in Lancaster Colony Co. (NASDAQ:LANC) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,094 shares of the company’s stock after acquiring an additional 102 shares during the period. Truist Financial Corp owned approximately 0.08% of Lancaster Colony worth $3,652,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of Lancaster Colony by 2.7% in the third quarter. Geode Capital Management LLC now owns 556,223 shares of the company’s stock worth $98,227,000 after acquiring an additional 14,864 shares during the period. Boston Trust Walden Corp boosted its stake in Lancaster Colony by 20.5% during the fourth quarter. Boston Trust Walden Corp now owns 305,264 shares of the company’s stock valued at $52,853,000 after buying an additional 52,030 shares during the period. WCM Investment Management LLC boosted its stake in Lancaster Colony by 4.0% during the third quarter. WCM Investment Management LLC now owns 111,507 shares of the company’s stock valued at $19,929,000 after buying an additional 4,306 shares during the period. Wellington Management Group LLP boosted its stake in Lancaster Colony by 243.2% during the third quarter. Wellington Management Group LLP now owns 83,630 shares of the company’s stock valued at $14,767,000 after buying an additional 59,261 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Lancaster Colony by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 61,579 shares of the company’s stock valued at $10,873,000 after buying an additional 1,132 shares during the period. 66.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. DA Davidson lifted their price objective on Lancaster Colony from $192.00 to $207.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. StockNews.com raised Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Stephens lifted their price objective on Lancaster Colony from $196.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Benchmark reissued a “hold” rating on shares of Lancaster Colony in a research note on Tuesday, November 19th. Finally, Loop Capital dropped their price target on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $211.33.

Lancaster Colony Stock Down 0.2 %

Shares of LANC stock opened at $194.47 on Tuesday. The business has a 50-day moving average price of $178.13 and a two-hundred day moving average price of $181.00. Lancaster Colony Co. has a 12-month low of $163.20 and a 12-month high of $209.81. The firm has a market cap of $5.36 billion, a P/E ratio of 34.18 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last issued its quarterly 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. The firm had revenue of $509.30 million during the quarter, compared to analyst estimates of $495.43 million. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.87 earnings per share. As a group, research analysts expect that Lancaster Colony Co. will post 6.8 EPS for the current fiscal year.

Lancaster Colony Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.80 annualized dividend and a dividend yield of 1.95%. Lancaster Colony’s dividend payout ratio is currently 66.78%.

Insider Transactions at Lancaster Colony

In other news, CEO David Alan Ciesinski sold 17,000 shares of Lancaster Colony stock in a transaction dated 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 transaction, the chief executive officer now owns 54,644 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 29.50% of the company’s stock.

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.