Lancaster Colony Co. (NASDAQ:LANC) Stake Lessened by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC cut its stake in Lancaster Colony Co. (NASDAQ:LANC) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 348,511 shares of the company’s stock after selling 14,390 shares during the period. Silvercrest Asset Management Group LLC owned 1.26% of Lancaster Colony worth $60,341,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LANC. Vanguard Group Inc. raised its stake in shares of Lancaster Colony by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 2,200,002 shares of the company’s stock valued at $380,908,000 after purchasing an additional 30,987 shares in the last quarter. Geode Capital Management LLC raised its stake in Lancaster Colony by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 561,913 shares of the company’s stock valued at $97,308,000 after buying an additional 5,690 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Lancaster Colony by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 510,470 shares of the company’s stock worth $88,383,000 after buying an additional 1,496 shares during the last quarter. London Co. of Virginia lifted its holdings in Lancaster Colony by 2.9% during the 4th quarter. London Co. of Virginia now owns 450,493 shares of the company’s stock worth $77,998,000 after buying an additional 12,500 shares during the last quarter. Finally, Boston Trust Walden Corp grew its position in shares of Lancaster Colony by 20.5% in the 4th quarter. Boston Trust Walden Corp now owns 305,264 shares of the company’s stock worth $52,853,000 after acquiring an additional 52,030 shares in the last quarter. 66.44% of the stock is currently owned by institutional investors.

Lancaster Colony Stock Performance

LANC stock opened at $166.93 on Friday. Lancaster Colony Co. has a 1 year low of $156.14 and a 1 year high of $202.63. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 29.34 and a beta of 0.50. The stock’s fifty day moving average is $177.23 and its two-hundred day moving average is $180.94.

Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.07). Lancaster Colony had a net margin of 8.26% and a return on equity of 19.51%. The firm had revenue of $457.84 million during the quarter, compared to the consensus estimate of $483.47 million. During the same quarter in the prior year, the business earned $1.44 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, analysts predict that Lancaster Colony Co. will post 6.8 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $0.95 per share. The ex-dividend date is Friday, June 6th. This represents a $3.80 annualized dividend and a dividend yield of 2.28%. Lancaster Colony’s dividend payout ratio is presently 61.79%.

Wall Street Analyst Weigh In

LANC has been the topic of several research analyst reports. Benchmark upgraded Lancaster Colony from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research note on Thursday, May 1st. Stephens dropped their target price on shares of Lancaster Colony from $200.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. DA Davidson lifted their price target on shares of Lancaster Colony from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, StockNews.com downgraded shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $203.50.

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.