Bernzott Capital Advisors Has $6.87 Million Stock Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Bernzott Capital Advisors reduced its holdings in Lancaster Colony Co. (NASDAQ:LANC) by 9.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,692 shares of the company’s stock after selling 4,150 shares during the quarter. Lancaster Colony accounts for about 3.4% of Bernzott Capital Advisors’ investment portfolio, making the stock its 8th largest holding. Bernzott Capital Advisors’ holdings in Lancaster Colony were worth $6,872,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of Lancaster Colony by 2.7% during the third quarter. Geode Capital Management LLC now owns 556,223 shares of the company’s stock worth $98,227,000 after buying an additional 14,864 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Lancaster Colony by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 520,335 shares of the company’s stock worth $98,326,000 after buying an additional 25,072 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Lancaster Colony by 2,386.6% during the second quarter. Blair William & Co. IL now owns 172,075 shares of the company’s stock worth $32,517,000 after buying an additional 165,155 shares in the last quarter. Wesbanco Bank Inc. grew its holdings in shares of Lancaster Colony by 4,189.1% during the third quarter. Wesbanco Bank Inc. now owns 163,800 shares of the company’s stock worth $28,922,000 after buying an additional 159,981 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Lancaster Colony by 6.4% during the second quarter. Envestnet Asset Management Inc. now owns 126,344 shares of the company’s stock worth $23,875,000 after buying an additional 7,642 shares in the last quarter. 66.44% of the stock is currently owned by institutional investors.

Lancaster Colony Stock Up 1.4 %

NASDAQ:LANC opened at $170.30 on Friday. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 29.46 and a beta of 0.36. Lancaster Colony Co. has a twelve month low of $163.20 and a twelve month high of $215.31. The stock’s 50 day moving average price is $181.20 and its two-hundred day moving average price is $182.32.

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

Lancaster Colony Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th were paid a dividend of $0.95 per share. 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 2.23%. The ex-dividend date of this dividend was Thursday, December 5th. Lancaster Colony’s payout ratio is currently 65.74%.

Wall Street Analyst Weigh In

Several research firms have weighed in on LANC. Stephens reaffirmed an “equal weight” rating and set a $196.00 price target on shares of Lancaster Colony in a research report on Tuesday, November 19th. Loop Capital lowered 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, Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a research report on Tuesday, November 19th.

About Lancaster Colony

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.