Russell Investments Group Ltd. reduced its position in Lancaster Colony Corporation (NASDAQ:LANC) by 16.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,543 shares of the company’s stock after selling 5,097 shares during the period. Russell Investments Group Ltd. owned 0.09% of Lancaster Colony Corporation worth $3,132,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in LANC. Cypress Wealth Advisors LLC increased its position in Lancaster Colony Corporation by 3.4% in the first quarter. Cypress Wealth Advisors LLC now owns 1,622 shares of the company’s stock worth $209,000 after buying an additional 54 shares during the last quarter. Credit Agricole S A increased its position in Lancaster Colony Corporation by 4.5% in the first quarter. Credit Agricole S A now owns 1,522 shares of the company’s stock worth $196,000 after buying an additional 66 shares during the last quarter. Capstone Asset Management Co. increased its position in Lancaster Colony Corporation by 4.6% in the second quarter. Capstone Asset Management Co. now owns 1,832 shares of the company’s stock worth $225,000 after buying an additional 80 shares during the last quarter. Bank of Montreal Can increased its position in Lancaster Colony Corporation by 0.7% in the first quarter. Bank of Montreal Can now owns 12,642 shares of the company’s stock worth $1,629,000 after buying an additional 82 shares during the last quarter. Finally, Profund Advisors LLC increased its position in Lancaster Colony Corporation by 3.4% in the first quarter. Profund Advisors LLC now owns 2,821 shares of the company’s stock worth $363,000 after buying an additional 92 shares during the last quarter. Institutional investors and hedge funds own 49.80% of the company’s stock.

Shares of Lancaster Colony Corporation (NASDAQ LANC) traded down 0.36% during midday trading on Wednesday, reaching $115.25. The company had a trading volume of 25,381 shares. The company has a market capitalization of $3.16 billion, a P/E ratio of 27.44 and a beta of 1.02. The company’s 50 day moving average price is $122.31 and its 200-day moving average price is $126.19. Lancaster Colony Corporation has a 52 week low of $113.33 and a 52 week high of $149.30.

Lancaster Colony Corporation (NASDAQ:LANC) last posted its quarterly earnings results on Thursday, August 17th. The company reported $1.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by $0.08. Lancaster Colony Corporation had a return on equity of 22.76% and a net margin of 9.59%. The business had revenue of $289.90 million during the quarter, compared to analyst estimates of $295.05 million. During the same period last year, the company earned $1.12 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities research analysts predict that Lancaster Colony Corporation will post $4.74 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, September 7th. Lancaster Colony Corporation’s dividend payout ratio (DPR) is presently 52.26%.

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A number of equities analysts have recently issued reports on the company. Wedbush reissued a “buy” rating on shares of Lancaster Colony Corporation in a research report on Friday, August 18th. Zacks Investment Research raised Lancaster Colony Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Vertical Group raised Lancaster Colony Corporation from a “hold” rating to a “buy” rating and increased their price target for the stock from $123.00 to $146.00 in a research report on Tuesday, May 30th. BidaskClub raised Lancaster Colony Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. Finally, Vertical Research raised Lancaster Colony Corporation from a “hold” rating to a “buy” rating in a research report on Friday, May 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $152.00.

Lancaster Colony Corporation Company 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.

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

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