AlphaMark Advisors LLC Raises Stake in Lancaster Colony Co. (NASDAQ:LANC)

AlphaMark Advisors LLC boosted its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC) by 5.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,686 shares of the company’s stock after buying an additional 83 shares during the quarter. AlphaMark Advisors LLC’s holdings in Lancaster Colony were worth $298,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LANC. Blair William & Co. IL raised 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 purchasing an additional 165,155 shares during the last quarter. Wesbanco Bank Inc. raised its stake in shares of Lancaster Colony by 4,189.1% during the 3rd quarter. Wesbanco Bank Inc. now owns 163,800 shares of the company’s stock valued at $28,922,000 after buying an additional 159,981 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Lancaster Colony by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,186,162 shares of the company’s stock valued at $453,913,000 after buying an additional 85,658 shares during the period. F M Investments LLC purchased a new stake in shares of Lancaster Colony in the second quarter worth about $7,997,000. Finally, Millennium Management LLC boosted its stake in shares of Lancaster Colony by 1,055.2% in the second quarter. Millennium Management LLC now owns 36,090 shares of the company’s stock worth $6,820,000 after buying an additional 32,966 shares during the last quarter. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Stephens reduced their price target on Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd. StockNews.com lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Loop Capital lowered their price target on shares of Lancaster Colony from $236.00 to $232.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Finally, Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a report on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Lancaster Colony presently has an average rating of “Hold” and an average target price of $195.75.

Insider Activity

In other news, Director Elliot K. Fullen purchased 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the completion of the transaction, the director now owns 5,298 shares of the company’s stock, valued at $895,362. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 29.60% of the company’s stock.

Lancaster Colony Stock Performance

Lancaster Colony stock opened at $175.78 on Friday. The company’s fifty day moving average price is $179.83 and its 200 day moving average price is $186.33. The stock has a market capitalization of $4.84 billion, a P/E ratio of 36.47 and a beta of 0.35. Lancaster Colony Co. has a 1 year low of $160.01 and a 1 year high of $215.31.

Lancaster Colony (NASDAQ:LANC) last announced its earnings results on Thursday, August 22nd. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by ($0.06). Lancaster Colony had a net margin of 8.47% and a return on equity of 19.61%. The company had revenue of $452.83 million during the quarter, compared to analyst estimates of $462.70 million. Sell-side analysts predict that Lancaster Colony Co. will post 6.96 EPS for the current year.

Lancaster Colony Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were issued a dividend of $0.90 per share. The ex-dividend date was Monday, September 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.05%. Lancaster Colony’s payout ratio is currently 74.69%.

Lancaster Colony 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.