Sei Investments Co. raised its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 39.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,284 shares of the company’s stock after acquiring an additional 1,506 shares during the period. Sei Investments Co.’s holdings in Lancaster Colony were worth $949,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Champlain Investment Partners LLC increased its stake in shares of Lancaster Colony by 0.8% in the third quarter. Champlain Investment Partners LLC now owns 947,588 shares of the company’s stock worth $169,429,000 after acquiring an additional 7,455 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in Lancaster Colony by 2.2% during the third quarter. Squarepoint Ops LLC now owns 19,544 shares of the company’s stock valued at $3,494,000 after acquiring an additional 412 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in Lancaster Colony by 168.0% during the second quarter. Cubist Systematic Strategies LLC now owns 12,717 shares of the company’s stock valued at $1,971,000 after acquiring an additional 7,971 shares during the period. Goldman Sachs Group Inc. boosted its stake in Lancaster Colony by 1.3% in the second quarter. Goldman Sachs Group Inc. now owns 46,614 shares of the company’s stock valued at $7,225,000 after acquiring an additional 581 shares during the last quarter. Finally, Stifel Financial Corp bought a new position in Lancaster Colony in the second quarter valued at approximately $2,710,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:LANC opened at $183.73 on Friday. Lancaster Colony Co. has a 52 week low of $114.55 and a 52 week high of $184.97. The firm has a market capitalization of $5.06 billion, a P/E ratio of 37.96 and a beta of 0.22. The company has a fifty day moving average of $173.38 and a 200 day moving average of $169.26.
Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.60 by ($0.15). Lancaster Colony had a return on equity of 16.90% and a net margin of 9.90%. The business had revenue of $349.20 million during the quarter, compared to the consensus estimate of $336.90 million. During the same quarter in the previous year, the business earned $1.48 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. Research analysts predict that Lancaster Colony Co. will post 5.38 EPS for the current fiscal year.
LANC has been the topic of a number of recent research reports. DA Davidson raised shares of Lancaster Colony from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 15th. BidaskClub raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Zacks Investment Research downgraded shares of Lancaster Colony from a “hold” rating to a “sell” rating in a research note on Saturday, November 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Lancaster Colony has an average rating of “Hold”.
In other news, Chairman John B. Gerlach, Jr. sold 4,872 shares of the firm’s stock in a transaction dated Monday, December 7th. The shares were sold at an average price of $168.50, for a total transaction of $820,932.00. Following the sale, the chairman now owns 292,071 shares of the company’s stock, valued at approximately $49,213,963.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 31.70% of the company’s stock.
Lancaster Colony Profile
Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates in two segments, Retail and Foodservice. It offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's; frozen mini stuffed bagels under the Bantam Bagels; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardini's, Tastefully Dressed, and Girard's; and vegetable and fruit dips under the Marzetti brand names.
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