1,542 Shares in Lancaster Colony Co. (NASDAQ:LANC) Bought by Virtu Financial LLC

Virtu Financial LLC acquired a new stake in Lancaster Colony Co. (NASDAQ:LANC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,542 shares of the company’s stock, valued at approximately $272,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Coldstream Capital Management Inc. increased its position in Lancaster Colony by 9.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,532 shares of the company’s stock valued at $271,000 after acquiring an additional 136 shares during the period. Geode Capital Management LLC grew its stake in shares of Lancaster Colony by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 556,223 shares of the company’s stock valued at $98,227,000 after purchasing an additional 14,864 shares during the last quarter. Barclays PLC increased its holdings in shares of Lancaster Colony by 125.5% in the third quarter. Barclays PLC now owns 44,189 shares of the company’s stock valued at $7,803,000 after purchasing an additional 24,589 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Lancaster Colony by 5.9% during the third quarter. Public Employees Retirement System of Ohio now owns 9,914 shares of the company’s stock worth $1,751,000 after purchasing an additional 549 shares during the last quarter. Finally, MML Investors Services LLC lifted its holdings in shares of Lancaster Colony by 9.0% during the third quarter. MML Investors Services LLC now owns 15,750 shares of the company’s stock worth $2,781,000 after purchasing an additional 1,307 shares during the period. 66.44% of the stock is owned by hedge funds and other institutional investors.

Lancaster Colony Stock Down 2.1 %

NASDAQ:LANC opened at $189.22 on Wednesday. The firm’s fifty day simple moving average is $184.53 and its 200-day simple moving average is $184.33. The stock has a market cap of $5.22 billion, a PE ratio of 32.74 and a beta of 0.35. Lancaster Colony Co. has a fifty-two week low of $161.54 and a fifty-two week high of $215.31.

Lancaster Colony (NASDAQ:LANC) last issued its earnings results 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). Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The company had revenue of $466.56 million for the quarter, compared to analyst estimates of $468.36 million. During the same quarter in the previous year, the company posted $1.70 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities analysts anticipate that Lancaster Colony Co. will post 6.7 earnings per share for the current year.

Lancaster Colony Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, December 5th will be issued a dividend of $0.95 per share. The ex-dividend date is Thursday, December 5th. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a yield of 2.01%. Lancaster Colony’s payout ratio is currently 65.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Benchmark restated a “hold” rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. StockNews.com cut shares of Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Loop Capital lowered their price objective on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Stephens reissued an “equal weight” rating and set a $196.00 target price on shares of Lancaster Colony in a research note on Tuesday, November 19th.

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.