Lancaster Colony Co. (NASDAQ:LANC) Shares Sold by Mitsubishi UFJ Asset Management UK Ltd.

Mitsubishi UFJ Asset Management UK Ltd. lessened its stake in Lancaster Colony Co. (NASDAQ:LANC) by 18.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,300 shares of the company’s stock after selling 1,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Lancaster Colony were worth $745,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in Lancaster Colony in the 3rd quarter valued at about $27,000. Eagle Bay Advisors LLC acquired a new stake in shares of Lancaster Colony during the 4th quarter worth about $38,000. GAMMA Investing LLC boosted its position in shares of Lancaster Colony by 56.4% during the 4th quarter. GAMMA Investing LLC now owns 280 shares of the company’s stock worth $48,000 after purchasing an additional 101 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Lancaster Colony during the 2nd quarter valued at about $74,000. Finally, nVerses Capital LLC increased its stake in Lancaster Colony by 66.7% during the 3rd quarter. nVerses Capital LLC now owns 1,000 shares of the company’s stock worth $177,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 66.44% of the company’s stock.

Lancaster Colony Stock Performance

LANC opened at $175.91 on Wednesday. Lancaster Colony Co. has a 1 year low of $163.20 and a 1 year high of $215.31. The company’s 50 day simple moving average is $180.19 and its 200 day simple moving average is $181.94. The stock has a market capitalization of $4.85 billion, a PE ratio of 30.43 and a beta of 0.36.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.08). The company had revenue of $466.56 million during the quarter, compared to analysts’ expectations of $468.36 million. Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.70 EPS. As a group, sell-side analysts expect that Lancaster Colony Co. will post 6.7 earnings per share for the current fiscal year.

Lancaster Colony Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, December 5th were given a dividend of $0.95 per share. The ex-dividend date was Thursday, December 5th. This represents a $3.80 dividend on an annualized basis and a yield of 2.16%. This is a positive change from Lancaster Colony’s previous quarterly dividend of $0.90. Lancaster Colony’s payout ratio is currently 65.74%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. Loop Capital dropped their price target on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Stephens reiterated an “equal weight” rating and set a $196.00 target price on shares of Lancaster Colony in a research report on Tuesday, November 19th.

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.