Holocene Advisors LP Purchases 12,199 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Holocene Advisors LP raised its position in Lancaster Colony Co. (NASDAQ:LANC) by 170.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 19,376 shares of the company’s stock after purchasing an additional 12,199 shares during the period. Holocene Advisors LP owned 0.07% of Lancaster Colony worth $3,421,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in Lancaster Colony in the second quarter valued at $28,000. V Square Quantitative Management LLC acquired a new position in shares of Lancaster Colony in the 3rd quarter valued at about $27,000. GAMMA Investing LLC lifted its stake in shares of Lancaster Colony by 115.9% in the 2nd quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock valued at $33,000 after purchasing an additional 95 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Lancaster Colony during the 2nd quarter valued at about $74,000. Finally, nVerses Capital LLC acquired a new stake in Lancaster Colony during the second quarter worth approximately $113,000. 66.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

LANC has been the topic of a number of research analyst reports. Stephens restated an “equal weight” rating and set a $196.00 price target on shares of Lancaster Colony in a report on Tuesday, November 19th. StockNews.com lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Loop Capital decreased their price target on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Benchmark reissued a “hold” rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $202.67.

Lancaster Colony Stock Up 0.3 %

Shares of LANC opened at $184.15 on Friday. The stock has a market cap of $5.08 billion, a P/E ratio of 31.86 and a beta of 0.35. The business’s fifty day moving average is $182.60 and its 200 day moving average is $184.13. Lancaster Colony Co. has a 12-month low of $161.54 and a 12-month high of $215.31.

Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.08). Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The business had revenue of $466.56 million for the quarter, compared to analyst estimates of $468.36 million. During the same quarter in the prior year, the business earned $1.70 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, analysts expect that Lancaster Colony Co. will post 6.72 EPS for the current year.

Lancaster Colony Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th will be paid a $0.95 dividend. The ex-dividend date is Thursday, December 5th. This is an increase from Lancaster Colony’s previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a dividend yield of 2.06%. Lancaster Colony’s dividend payout ratio is 62.28%.

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.