Virtu Financial LLC Boosts Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Virtu Financial LLC lifted its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 14.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,762 shares of the company’s stock after purchasing an additional 220 shares during the quarter. Virtu Financial LLC’s holdings in Lancaster Colony were worth $305,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LANC. Wellington Management Group LLP grew its position in Lancaster Colony by 243.2% during the third quarter. Wellington Management Group LLP now owns 83,630 shares of the company’s stock valued at $14,767,000 after acquiring an additional 59,261 shares during the last quarter. Boston Trust Walden Corp boosted its stake 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 valued at $52,853,000 after purchasing an additional 52,030 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Lancaster Colony during the 4th quarter valued at $8,558,000. Barclays PLC raised its position in Lancaster Colony by 125.5% in the 3rd quarter. Barclays PLC now owns 44,189 shares of the company’s stock worth $7,803,000 after purchasing an additional 24,589 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Lancaster Colony by 336.2% in the fourth quarter. SG Americas Securities LLC now owns 23,393 shares of the company’s stock worth $4,050,000 after purchasing an additional 18,030 shares during the last quarter. Institutional investors own 66.44% of the company’s stock.

Lancaster Colony Trading Up 0.4 %

LANC stock opened at $176.44 on Friday. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 31.01 and a beta of 0.31. The firm’s 50-day moving average price is $182.72 and its two-hundred day moving average price is $181.29. Lancaster Colony Co. has a 12-month low of $163.20 and a 12-month high of $209.08.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings results 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. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The company had revenue of $509.30 million for the quarter, compared to the consensus estimate of $495.43 million. During the same quarter in the previous year, the business earned $1.87 EPS. Lancaster Colony’s revenue was up 4.8% compared to the same quarter last year. Equities analysts predict that Lancaster Colony Co. will post 6.8 EPS for the current year.

Lancaster Colony Announces Dividend

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

Analyst Upgrades and Downgrades

LANC has been the topic of a number of recent research reports. StockNews.com raised Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. DA Davidson raised their price target on Lancaster Colony from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, Stephens lifted their price target on Lancaster Colony from $196.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $211.33.

Insider Buying and Selling

In related news, CEO David Alan Ciesinski sold 17,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $191.19, for a total value of $3,250,230.00. Following the completion of the transaction, the chief executive officer now directly owns 54,644 shares of the company’s stock, valued at $10,447,386.36. This represents a 23.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 29.50% of the stock is currently owned by insiders.

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.