Thrivent Financial for Lutherans Sells 45,916 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Thrivent Financial for Lutherans lowered its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 11.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 354,857 shares of the company’s stock after selling 45,916 shares during the period. Thrivent Financial for Lutherans’ holdings in Lancaster Colony were worth $61,440,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Cibc World Markets Corp bought a new stake in Lancaster Colony during the 4th quarter worth $317,000. Creative Financial Designs Inc. ADV grew its position in Lancaster Colony by 5.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 4,021 shares of the company’s stock worth $696,000 after acquiring an additional 216 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Lancaster Colony by 5.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,538 shares of the company’s stock worth $786,000 after acquiring an additional 236 shares during the last quarter. Brandes Investment Partners LP grew its position in Lancaster Colony by 23.2% during the 4th quarter. Brandes Investment Partners LP now owns 4,427 shares of the company’s stock worth $766,000 after acquiring an additional 834 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in shares of Lancaster Colony by 7.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 6,455 shares of the company’s stock valued at $1,118,000 after buying an additional 450 shares during the last quarter. Institutional investors own 66.44% of the company’s stock.

Insider Activity

In related news, CEO David Alan Ciesinski sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,250,230.00. Following the transaction, the chief executive officer now directly owns 54,644 shares of the company’s stock, valued at approximately $10,447,386.36. This represents a 23.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 29.50% of the stock is owned by company insiders.

Lancaster Colony Price Performance

Shares of NASDAQ:LANC opened at $176.92 on Thursday. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 31.09 and a beta of 0.31. The business’s 50-day moving average is $181.86 and its 200-day moving average is $181.30. Lancaster Colony Co. has a 1 year low of $163.20 and a 1 year high of $209.08.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.28. The company had revenue of $509.30 million for the quarter, compared to the consensus estimate of $495.43 million. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.87 EPS. Analysts anticipate that Lancaster Colony Co. will post 6.8 EPS for the current year.

Lancaster Colony Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Friday, March 7th. Lancaster Colony’s dividend payout ratio is 66.78%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Stephens upped their price target on Lancaster Colony from $196.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. DA Davidson upped their price target on Lancaster Colony from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, StockNews.com upgraded Lancaster Colony from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $211.33.

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.