GAM Holding AG Raises Stake in Lancaster Colony Corp. (NASDAQ:LANC)

GAM Holding AG grew its position in Lancaster Colony Corp. (NASDAQ:LANC) by 100.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,560 shares of the company’s stock after acquiring an additional 1,286 shares during the period. GAM Holding AG’s holdings in Lancaster Colony were worth $401,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Truehand Inc acquired a new stake in shares of Lancaster Colony in the fourth quarter valued at $25,000. Captrust Financial Advisors grew its stake in shares of Lancaster Colony by 79.8% in the fourth quarter. Captrust Financial Advisors now owns 151 shares of the company’s stock valued at $27,000 after buying an additional 67 shares in the last quarter. Alpha Quant Advisors LLC grew its stake in shares of Lancaster Colony by 91.7% in the first quarter. Alpha Quant Advisors LLC now owns 232 shares of the company’s stock valued at $36,000 after buying an additional 111 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Lancaster Colony by 111.1% in the first quarter. Nisa Investment Advisors LLC now owns 285 shares of the company’s stock valued at $45,000 after buying an additional 150 shares in the last quarter. Finally, Capital Investment Advisory Services LLC acquired a new stake in shares of Lancaster Colony in the fourth quarter valued at $66,000. 55.13% of the stock is owned by institutional investors and hedge funds.

Separately, BidaskClub raised Lancaster Colony from a “strong sell” rating to a “sell” rating in a research note on Thursday.

NASDAQ:LANC opened at $150.45 on Friday. The firm has a market capitalization of $4.17 billion, a P/E ratio of 29.26 and a beta of 0.31. Lancaster Colony Corp. has a 12-month low of $130.34 and a 12-month high of $194.38.

Lancaster Colony (NASDAQ:LANC) last released its earnings results on Thursday, April 25th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.10). The company had revenue of $317.80 million during the quarter, compared to analysts’ expectations of $325.01 million. Lancaster Colony had a net margin of 11.60% and a return on equity of 20.76%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $1.00 earnings per share.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $2.60 dividend on an annualized basis and a yield of 1.73%.

TRADEMARK VIOLATION WARNING: This piece was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this piece can be accessed at https://www.dispatchtribunal.com/2019/06/14/gam-holding-ag-raises-stake-in-lancaster-colony-corp-nasdaqlanc.html.

About Lancaster Colony

Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates through two segments, Retail and Foodservice. It offers frozen garlic breads under the New York BRAND Bakery brand; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand name; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardini's, and Girard's brands; and vegetable dips and fruit dips under the Marzetti brand.

Read More: How does a reverse stock split work?

Want to see what other hedge funds are holding LANC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lancaster Colony Corp. (NASDAQ:LANC).

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

Receive News & Ratings for Lancaster Colony Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lancaster Colony and related companies with MarketBeat.com's FREE daily email newsletter.