Significant Wealth Partners LLC Invests $315,000 in Lancaster Colony Co. (NASDAQ:LANC)

Significant Wealth Partners LLC bought a new stake in shares of Lancaster Colony Co. (NASDAQ:LANC) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,519 shares of the company’s stock, valued at approximately $315,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LANC. Brown Brothers Harriman & Co. bought a new stake in Lancaster Colony during the 4th quarter worth approximately $67,000. Clarity Asset Management Inc. purchased a new position in shares of Lancaster Colony during the 4th quarter valued at $70,000. Principal Securities Inc. bought a new position in Lancaster Colony in the 4th quarter worth $129,000. UMB Bank n.a. increased its stake in Lancaster Colony by 11.8% in the 4th quarter. UMB Bank n.a. now owns 894 shares of the company’s stock worth $149,000 after buying an additional 94 shares in the last quarter. Finally, TFO Wealth Partners LLC raised its holdings in Lancaster Colony by 92,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 928 shares of the company’s stock valued at $166,000 after acquiring an additional 927 shares during the period. 66.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LANC. Stephens reaffirmed an “equal weight” rating and issued a $218.00 price objective on shares of Lancaster Colony in a research note on Friday, May 3rd. StockNews.com raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $198.75.

Lancaster Colony Stock Performance

NASDAQ:LANC traded up $0.63 during trading hours on Monday, reaching $186.98. The stock had a trading volume of 56,902 shares, compared to its average volume of 124,346. The stock has a market capitalization of $5.15 billion, a PE ratio of 38.56 and a beta of 0.37. Lancaster Colony Co. has a 52 week low of $158.88 and a 52 week high of $215.31. The company has a 50 day moving average price of $188.29 and a two-hundred day moving average price of $189.81.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.02. Lancaster Colony had a net margin of 7.10% and a return on equity of 18.96%. The company had revenue of $471.40 million for the quarter, compared to analysts’ expectations of $467.90 million. During the same quarter in the previous year, the business posted $0.89 earnings per share. Lancaster Colony’s quarterly revenue was up 1.4% on a year-over-year basis. Equities research analysts predict that Lancaster Colony Co. will post 6.45 EPS for the current year.

Lancaster Colony Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a dividend of $0.90 per share. The ex-dividend date was Friday, June 7th. This represents a $3.60 annualized dividend and a yield of 1.93%. Lancaster Colony’s payout ratio is currently 74.69%.

Lancaster Colony Company Profile

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.