Assenagon Asset Management S.A. purchased a new position in shares of Lancaster Colony Corporation (NASDAQ:LANC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 26,428 shares of the company’s stock, valued at approximately $3,175,000. Assenagon Asset Management S.A. owned about 0.10% of Lancaster Colony Corporation as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Lancaster Colony Corporation by 6,130.9% during the 1st quarter. BlackRock Inc. now owns 1,964,804 shares of the company’s stock valued at $253,145,000 after acquiring an additional 1,933,271 shares in the last quarter. Vanguard Group Inc. increased its position in Lancaster Colony Corporation by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,887,011 shares of the company’s stock worth $231,385,000 after purchasing an additional 11,486 shares during the last quarter. State Street Corp increased its position in Lancaster Colony Corporation by 3.3% in the 1st quarter. State Street Corp now owns 1,436,174 shares of the company’s stock worth $185,035,000 after purchasing an additional 45,281 shares during the last quarter. Renaissance Technologies LLC increased its position in Lancaster Colony Corporation by 23.0% in the 2nd quarter. Renaissance Technologies LLC now owns 750,762 shares of the company’s stock worth $92,058,000 after purchasing an additional 140,262 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in Lancaster Colony Corporation by 5.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 730,573 shares of the company’s stock worth $89,583,000 after purchasing an additional 35,303 shares during the last quarter. 50.26% of the stock is owned by hedge funds and other institutional investors.
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Shares of Lancaster Colony Corporation (LANC) traded down $0.60 on Friday, reaching $123.45. The company’s stock had a trading volume of 92,200 shares, compared to its average volume of 107,715. Lancaster Colony Corporation has a 52-week low of $113.33 and a 52-week high of $149.30. The company has a market cap of $3,370.00, a P/E ratio of 27.69 and a beta of 1.04.
Lancaster Colony Corporation (NASDAQ:LANC) last released its earnings results on Thursday, October 26th. The company reported $1.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.04). The firm had revenue of $298.92 million during the quarter, compared to analyst estimates of $298.75 million. Lancaster Colony Corporation had a net margin of 9.20% and a return on equity of 21.50%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the business posted $1.22 earnings per share. sell-side analysts expect that Lancaster Colony Corporation will post 4.75 earnings per share for the current fiscal year.
Several research analysts have weighed in on the company. Zacks Investment Research raised Lancaster Colony Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday. Wedbush reissued a “buy” rating on shares of Lancaster Colony Corporation in a report on Friday, August 18th. Finally, BidaskClub raised Lancaster Colony Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Lancaster Colony Corporation currently has a consensus rating of “Buy” and an average price target of $154.67.
Lancaster Colony Corporation Profile
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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