Principal Financial Group Inc. Purchases 2,026 Shares of Lancaster Colony Corp. (LANC)

Principal Financial Group Inc. raised its position in Lancaster Colony Corp. (NASDAQ:LANC) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,489 shares of the company’s stock after acquiring an additional 2,026 shares during the quarter. Principal Financial Group Inc. owned 0.31% of Lancaster Colony worth $10,404,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. BlackRock Inc. grew its position in Lancaster Colony by 1.7% in the first quarter. BlackRock Inc. now owns 2,048,511 shares of the company’s stock valued at $252,255,000 after acquiring an additional 34,823 shares in the last quarter. Neuberger Berman Group LLC grew its position in Lancaster Colony by 2.0% in the first quarter. Neuberger Berman Group LLC now owns 1,105,289 shares of the company’s stock valued at $136,105,000 after acquiring an additional 21,754 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Lancaster Colony by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 508,486 shares of the company’s stock valued at $62,615,000 after acquiring an additional 3,257 shares in the last quarter. Bank of New York Mellon Corp grew its position in Lancaster Colony by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 266,288 shares of the company’s stock valued at $34,407,000 after acquiring an additional 1,908 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Lancaster Colony by 32.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 212,427 shares of the company’s stock valued at $26,159,000 after acquiring an additional 51,842 shares in the last quarter. 52.66% of the stock is owned by institutional investors.

LANC stock opened at $138.42 on Monday. Lancaster Colony Corp. has a twelve month low of $113.33 and a twelve month high of $141.58. The company has a market cap of $3.80 billion, a PE ratio of 29.96 and a beta of 0.97.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Thursday, April 26th. The company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.05). Lancaster Colony had a return on equity of 19.32% and a net margin of 10.91%. The company had revenue of $296.20 million for the quarter, compared to analyst estimates of $291.50 million. During the same period in the previous year, the business posted $0.95 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 29th. Stockholders of record on Friday, June 8th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Thursday, June 7th. Lancaster Colony’s payout ratio is currently 51.95%.

Several analysts have issued reports on LANC shares. BidaskClub raised shares of Lancaster Colony from a “sell” rating to a “hold” rating in a research report on Wednesday, June 20th. Vertical Group downgraded shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Finally, Zacks Investment Research raised shares of Lancaster Colony from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 12th.

About Lancaster Colony

Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. It offers salad dressings and sauces under the Marzetti, Marzetti Simply Dressed, Cardini's, and Girard's brands; vegetable dips and fruit dips under the Marzetti brand; frozen garlic breads under the New York BRAND Bakery, Mamma Bella, and Mamma Bella's brands; and frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's and Mary B's brands.

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Institutional Ownership by Quarter for Lancaster Colony (NASDAQ:LANC)

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