Leeward Investments LLC MA Has $9.15 Million Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Leeward Investments LLC MA lowered its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,811 shares of the company’s stock after selling 170 shares during the quarter. Leeward Investments LLC MA owned approximately 0.19% of Lancaster Colony worth $9,148,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in Lancaster Colony during the 3rd quarter worth about $27,000. Opal Wealth Advisors LLC bought a new stake in Lancaster Colony during the 2nd quarter worth about $28,000. GAMMA Investing LLC boosted its stake in shares of Lancaster Colony by 115.9% in the 2nd quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock valued at $33,000 after purchasing an additional 95 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Lancaster Colony in the 2nd quarter valued at about $38,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Lancaster Colony in the 2nd quarter valued at about $74,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Lancaster Colony Price Performance

Lancaster Colony stock opened at $196.21 on Friday. The company’s 50 day simple moving average is $179.09 and its 200 day simple moving average is $184.91. Lancaster Colony Co. has a fifty-two week low of $161.54 and a fifty-two week high of $215.31. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 33.95 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.08). The firm had revenue of $466.56 million for the quarter, compared to the consensus estimate of $468.36 million. Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.70 EPS. As a group, analysts predict that Lancaster Colony Co. will post 6.93 EPS for the current fiscal year.

Lancaster Colony Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 5th will be issued 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 yield of 1.94%. Lancaster Colony’s dividend payout ratio (DPR) is 62.28%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LANC. Stephens reduced their target price on shares of Lancaster Colony from $200.00 to $196.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. StockNews.com lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a research note on Friday, November 1st. Finally, Loop Capital reduced their price objective on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $193.50.

Insiders Place Their Bets

In related news, Director Elliot K. Fullen bought 3,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were purchased at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the acquisition, the director now owns 5,298 shares of the company’s stock, valued at approximately $895,362. This represents a 100.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate 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.