Nisa Investment Advisors LLC Boosts Stock Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Nisa Investment Advisors LLC grew its stake in shares of Lancaster Colony Co. (NASDAQ:LANC) by 235.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,353 shares of the company’s stock after acquiring an additional 950 shares during the period. Nisa Investment Advisors LLC’s holdings in Lancaster Colony were worth $225,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Atlas Capital Advisors LLC purchased a new stake in shares of Lancaster Colony during the fourth quarter worth $46,000. Lazard Asset Management LLC bought a new position in shares of Lancaster Colony in the second quarter worth $47,000. Sunbelt Securities Inc. bought a new position in shares of Lancaster Colony in the first quarter worth $50,000. Qube Research & Technologies Ltd bought a new position in shares of Lancaster Colony in the third quarter worth $71,000. Finally, State of Wyoming bought a new position in shares of Lancaster Colony in the fourth quarter worth $96,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Insider Activity at Lancaster Colony

In related news, insider Kristin Bird sold 1,207 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $192.66, for a total value of $232,540.62. Following the transaction, the insider now owns 3,546 shares of the company’s stock, valued at $683,172.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 29.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Stephens cut shares of Lancaster Colony from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $205.00 to $218.00 in a report on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $198.75.

Lancaster Colony Stock Performance

Lancaster Colony stock opened at $186.87 on Friday. The stock has a market cap of $5.14 billion, a P/E ratio of 39.93 and a beta of 0.35. Lancaster Colony Co. has a fifty-two week low of $158.88 and a fifty-two week high of $220.65. The firm’s fifty day moving average price is $199.89 and its 200-day moving average price is $180.86.

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

Lancaster Colony Announces Dividend

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 $0.90 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $3.60 dividend on an annualized basis and a yield of 1.93%. Lancaster Colony’s dividend payout ratio is presently 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.