Arizona State Retirement System Has $1.01 Million Position in Lancaster Colony Corporation (LANC)
Arizona State Retirement System increased its stake in shares of Lancaster Colony Corporation (NASDAQ:LANC) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,200 shares of the company’s stock after buying an additional 100 shares during the period. Arizona State Retirement System’s holdings in Lancaster Colony Corporation were worth $1,005,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new stake in Lancaster Colony Corporation during the first quarter valued at $129,000. Harfst & Associates Inc. bought a new stake in Lancaster Colony Corporation during the first quarter valued at $174,000. LS Investment Advisors LLC raised its stake in Lancaster Colony Corporation by 19.8% in the second quarter. LS Investment Advisors LLC now owns 1,557 shares of the company’s stock valued at $191,000 after buying an additional 257 shares in the last quarter. Credit Agricole S A raised its stake in Lancaster Colony Corporation by 4.5% in the first quarter. Credit Agricole S A now owns 1,522 shares of the company’s stock valued at $196,000 after buying an additional 66 shares in the last quarter. Finally, Cypress Wealth Advisors LLC raised its stake in Lancaster Colony Corporation by 3.4% in the first quarter. Cypress Wealth Advisors LLC now owns 1,622 shares of the company’s stock valued at $209,000 after buying an additional 54 shares in the last quarter. Institutional investors own 49.80% of the company’s stock.
Lancaster Colony Corporation (NASDAQ:LANC) opened at 115.68 on Thursday. The firm has a market capitalization of $3.18 billion, a P/E ratio of 27.54 and a beta of 1.02. Lancaster Colony Corporation has a one year low of $113.33 and a one year high of $149.30. The stock has a 50 day moving average price of $122.31 and a 200 day moving average price of $126.19.
Lancaster Colony Corporation (NASDAQ:LANC) last released its earnings results on Thursday, August 17th. The company reported $1.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by $0.08. Lancaster Colony Corporation had a net margin of 9.59% and a return on equity of 22.76%. The business had revenue of $289.90 million for the quarter, compared to the consensus estimate of $295.05 million. During the same period in the prior year, the business posted $1.12 EPS. Lancaster Colony Corporation’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts predict that Lancaster Colony Corporation will post $4.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Thursday, September 7th. Lancaster Colony Corporation’s dividend payout ratio is currently 52.26%.
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Several equities research analysts have recently weighed in on the company. BidaskClub upgraded Lancaster Colony Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. Vertical Research upgraded Lancaster Colony Corporation from a “hold” rating to a “buy” rating in a research note on Friday, May 26th. Zacks Investment Research upgraded Lancaster Colony Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Vertical Group raised Lancaster Colony Corporation from a “hold” rating to a “buy” rating and boosted their target price for the stock from $123.00 to $146.00 in a report on Tuesday, May 30th. Finally, Wedbush reissued a “buy” rating on shares of Lancaster Colony Corporation in a report on Friday, August 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $152.00.
About Lancaster Colony Corporation
Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar.
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