Handelsbanken Fonder AB Has $1.05 Million Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Handelsbanken Fonder AB trimmed its holdings in Lancaster Colony Co. (NASDAQ:LANC) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,072 shares of the company’s stock after selling 200 shares during the period. Handelsbanken Fonder AB’s holdings in Lancaster Colony were worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LANC. Independence Bank of Kentucky acquired a new position in shares of Lancaster Colony during the fourth quarter worth about $630,000. Allspring Global Investments Holdings LLC grew its position in shares of Lancaster Colony by 24.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,177 shares of the company’s stock valued at $2,281,000 after purchasing an additional 2,559 shares during the last quarter. Anthracite Investment Company Inc. acquired a new position in shares of Lancaster Colony in the third quarter valued at approximately $1,204,000. Empowered Funds LLC acquired a new position in shares of Lancaster Colony in the third quarter valued at approximately $2,244,000. Finally, Van ECK Associates Corp grew its position in shares of Lancaster Colony by 40.0% in the third quarter. Van ECK Associates Corp now owns 12,897 shares of the company’s stock valued at $2,271,000 after purchasing an additional 3,686 shares during the last quarter. 66.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lancaster Colony

In other Lancaster Colony 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 transaction, the chief executive officer now owns 54,644 shares of the company’s stock, valued at $10,447,386.36. This trade represents a 23.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 29.50% of the company’s stock.

Lancaster Colony Trading Down 0.2 %

LANC stock opened at $190.03 on Friday. The stock has a 50-day moving average price of $178.44 and a 200-day moving average price of $181.10. Lancaster Colony Co. has a 1-year low of $163.20 and a 1-year high of $209.81. The firm has a market cap of $5.24 billion, a PE ratio of 33.40 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last issued its earnings results on Tuesday, February 4th. The company reported $2.22 EPS for the quarter, beating the consensus estimate of $1.94 by $0.28. The company had revenue of $509.30 million during the quarter, compared to the consensus estimate of $495.43 million. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $1.87 EPS. On average, analysts forecast that Lancaster Colony Co. will post 6.8 earnings per share for the current year.

Lancaster Colony Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.95 per share. The ex-dividend date is Friday, March 7th. This represents a $3.80 dividend on an annualized basis and a yield of 2.00%. Lancaster Colony’s dividend payout ratio (DPR) is currently 66.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Benchmark reissued a “hold” rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. DA Davidson raised their target price on Lancaster Colony from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Monday, February 10th. 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. StockNews.com upgraded Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Stephens raised their target price 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $211.33.

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.