Creative Financial Designs Inc. ADV Boosts Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Creative Financial Designs Inc. ADV grew its stake in shares of Lancaster Colony Co. (NASDAQ:LANC) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,021 shares of the company’s stock after acquiring an additional 216 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Lancaster Colony were worth $696,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Independence Bank of Kentucky purchased a new stake in shares of Lancaster Colony during the fourth quarter worth $630,000. Allspring Global Investments Holdings LLC raised its position in shares of Lancaster Colony by 24.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,177 shares of the company’s stock worth $2,281,000 after buying an additional 2,559 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Lancaster Colony by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 213,854 shares of the company’s stock worth $37,027,000 after buying an additional 9,861 shares in the last quarter. Anthracite Investment Company Inc. purchased a new stake in shares of Lancaster Colony in the third quarter worth $1,204,000. Finally, Empowered Funds LLC purchased a new stake in shares of Lancaster Colony in the third quarter worth $2,244,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Lancaster Colony Stock Down 1.5 %

NASDAQ LANC opened at $180.48 on Wednesday. The stock’s 50-day simple moving average is $181.72 and its two-hundred day simple moving average is $181.33. Lancaster Colony Co. has a twelve month low of $163.20 and a twelve month high of $209.08. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of 31.72 and a beta of 0.31.

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. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The firm had revenue of $509.30 million for the quarter, compared to analysts’ expectations of $495.43 million. During the same period last year, the firm earned $1.87 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities analysts expect that Lancaster Colony Co. will post 6.8 earnings per share for the current fiscal year.

Lancaster Colony Dividend Announcement

The business 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 dividend of $0.95 per share. The ex-dividend date is Friday, March 7th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.11%. Lancaster Colony’s dividend payout ratio (DPR) is currently 66.78%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. DA Davidson increased their price objective on Lancaster Colony from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. StockNews.com upgraded Lancaster Colony from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. Finally, Stephens raised 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. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $211.33.

Insider Activity

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

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.