MQS Management LLC Purchases Shares of 1,946 Lancaster Colony Co. (NASDAQ:LANC)

MQS Management LLC acquired a new position in shares of Lancaster Colony Co. (NASDAQ:LANC) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,946 shares of the company’s stock, valued at approximately $344,000.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Lancaster Colony during the second quarter worth about $1,528,000. Leeward Investments LLC MA increased its position in Lancaster Colony by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 51,981 shares of the company’s stock worth $9,823,000 after purchasing an additional 2,771 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Lancaster Colony in the second quarter valued at approximately $658,000. William B. Walkup & Associates Inc. acquired a new position in Lancaster Colony during the second quarter valued at approximately $685,000. Finally, Quest Partners LLC lifted its position in Lancaster Colony by 146,275.0% during the second quarter. Quest Partners LLC now owns 5,855 shares of the company’s stock valued at $1,106,000 after buying an additional 5,851 shares in the last quarter. 66.44% of the stock is owned by hedge funds and other institutional investors.

Lancaster Colony Stock Performance

NASDAQ:LANC opened at $184.18 on Friday. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of 32.07 and a beta of 0.35. Lancaster Colony Co. has a one year low of $161.54 and a one year high of $215.31. The business’s 50-day simple moving average is $180.77 and its 200 day simple moving average is $185.06.

Lancaster Colony (NASDAQ:LANC) last released its earnings results on Thursday, October 31st. The company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.08). The business had revenue of $466.56 million for the quarter, compared to analysts’ expectations of $468.36 million. Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.70 earnings per share. On average, equities research analysts predict that Lancaster Colony Co. will post 6.72 EPS for the current year.

Lancaster Colony Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th will be given a dividend of $0.95 per share. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, December 5th. This represents a $3.80 annualized dividend and a dividend yield of 2.06%. Lancaster Colony’s dividend payout ratio (DPR) is presently 62.28%.

Insider Buying and Selling

In other news, Director Elliot K. Fullen acquired 3,000 shares of Lancaster Colony stock in a transaction that occurred 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 completion of the purchase, the director now directly owns 5,298 shares of the company’s stock, valued at $895,362. This trade represents a 130.55 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 29.50% of the company’s stock.

Analyst Ratings Changes

LANC has been the topic of a number of research reports. Loop Capital cut their target price 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. Stephens cut their price objective on Lancaster Colony from $200.00 to $196.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. StockNews.com downgraded Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Finally, Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a report on Friday, November 1st. 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.com, the stock has a consensus rating of “Hold” and a consensus price target of $193.50.

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.