David Alan Ciesinski Sells 17,000 Shares of Lancaster Colony Co. (NASDAQ:LANC) Stock

Lancaster Colony Co. (NASDAQ:LANC) CEO David Alan Ciesinski sold 17,000 shares of Lancaster Colony stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,250,230.00. Following the completion of the sale, the chief executive officer now owns 54,644 shares of the company’s stock, valued at $10,447,386.36. This trade represents a 23.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Lancaster Colony Stock Down 2.7 %

Shares of LANC stock opened at $188.63 on Tuesday. Lancaster Colony Co. has a 52 week low of $163.20 and a 52 week high of $209.81. The stock has a market capitalization of $5.20 billion, a PE ratio of 33.15 and a beta of 0.35. The firm has a 50 day moving average of $178.31 and a two-hundred day moving average of $180.91.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings data on Tuesday, February 4th. The company reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.28. The business had revenue of $509.30 million during the quarter, compared to analysts’ expectations of $495.43 million. Lancaster Colony had a net margin of 8.26% and a return on equity of 19.51%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.87 EPS. Analysts expect that Lancaster Colony Co. will post 6.64 EPS for the current fiscal year.

Lancaster Colony Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.80 annualized dividend and a dividend yield of 2.01%. Lancaster Colony’s dividend payout ratio (DPR) is currently 66.78%.

Analyst Upgrades and Downgrades

LANC has been the subject of several research reports. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th. DA Davidson lifted their target price on shares of Lancaster Colony from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Loop Capital decreased their price target on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Stephens raised their price target on shares of Lancaster Colony from $196.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Finally, StockNews.com raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $211.33.

Institutional Investors Weigh In On Lancaster Colony

Several institutional investors have recently modified their holdings of the company. Arizona State Retirement System lifted its position in shares of Lancaster Colony by 1.0% during the 4th quarter. Arizona State Retirement System now owns 5,604 shares of the company’s stock worth $970,000 after purchasing an additional 55 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Lancaster Colony by 2.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 2,506 shares of the company’s stock worth $442,000 after purchasing an additional 57 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its position in shares of Lancaster Colony by 1.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,805 shares of the company’s stock worth $672,000 after purchasing an additional 67 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Lancaster Colony by 0.5% during the 3rd quarter. Quantinno Capital Management LP now owns 12,568 shares of the company’s stock worth $2,219,000 after purchasing an additional 67 shares during the last quarter. Finally, Principal Securities Inc. lifted its position in shares of Lancaster Colony by 5.6% during the 4th quarter. Principal Securities Inc. now owns 1,280 shares of the company’s stock worth $222,000 after purchasing an additional 68 shares during the last quarter. 66.44% of the stock is owned by hedge funds and other institutional investors.

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.