Royce & Associates LP increased its position in Lancaster Colony Corporation (NASDAQ:LANC) by 40.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 171,000 shares of the company’s stock after buying an additional 49,500 shares during the period. Royce & Associates LP owned about 0.62% of Lancaster Colony Corporation worth $20,968,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Comerica Bank boosted its position in Lancaster Colony Corporation by 4.0% in the first quarter. Comerica Bank now owns 14,958 shares of the company’s stock worth $1,843,000 after buying an additional 577 shares during the period. Suntrust Banks Inc. boosted its position in Lancaster Colony Corporation by 51.9% in the first quarter. Suntrust Banks Inc. now owns 3,648 shares of the company’s stock worth $469,000 after buying an additional 1,246 shares during the period. Bank of New York Mellon Corp boosted its position in Lancaster Colony Corporation by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 264,714 shares of the company’s stock worth $34,106,000 after buying an additional 3,636 shares during the period. Capital Fund Management S.A. boosted its position in Lancaster Colony Corporation by 243.0% in the first quarter. Capital Fund Management S.A. now owns 5,488 shares of the company’s stock worth $707,000 after buying an additional 3,888 shares during the period. Finally, Capital One National Association boosted its position in Lancaster Colony Corporation by 3.7% in the first quarter. Capital One National Association now owns 8,353 shares of the company’s stock worth $1,076,000 after buying an additional 295 shares during the period. 49.80% of the stock is owned by institutional investors.

Shares of Lancaster Colony Corporation (NASDAQ:LANC) opened at 115.67 on Wednesday. The stock has a market cap of $3.18 billion, a P/E ratio of 27.54 and a beta of 1.02. Lancaster Colony Corporation has a 12 month low of $113.33 and a 12 month high of $149.30. The stock has a 50 day moving average price of $122.31 and a 200-day moving average price of $126.19.

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

The business also recently disclosed 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. The ex-dividend date is Thursday, September 7th. This represents a $2.20 annualized dividend and a yield of 1.90%. Lancaster Colony Corporation’s dividend payout ratio is currently 52.26%.

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

About Lancaster Colony Corporation

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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