Federated Investors Inc. PA lessened its position in Lancaster Colony Corporation (NASDAQ:LANC) by 6.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,464 shares of the company’s stock after selling 471 shares during the period. Federated Investors Inc. PA’s holdings in Lancaster Colony Corporation were worth $792,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. grew its stake in Lancaster Colony Corporation by 6,130.9% in the first quarter. BlackRock Inc. now owns 1,964,804 shares of the company’s stock valued at $253,145,000 after acquiring an additional 1,933,271 shares during the period. Vanguard Group Inc. grew its stake in Lancaster Colony Corporation by 6.8% in the first quarter. Vanguard Group Inc. now owns 1,875,525 shares of the company’s stock valued at $241,643,000 after acquiring an additional 118,917 shares during the period. State Street Corp grew its stake in Lancaster Colony Corporation by 3.3% in the first quarter. State Street Corp now owns 1,436,174 shares of the company’s stock valued at $185,035,000 after acquiring an additional 45,281 shares during the period. Renaissance Technologies LLC grew its stake in Lancaster Colony Corporation by 4.0% in the first quarter. Renaissance Technologies LLC now owns 610,500 shares of the company’s stock valued at $78,657,000 after acquiring an additional 23,500 shares during the period. Finally, Bank of New York Mellon Corp grew its stake 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 valued at $34,106,000 after acquiring an additional 3,636 shares during the period. 49.80% of the stock is owned by hedge funds and other institutional investors.

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

Lancaster Colony Corporation (LANC) opened at 117.89 on Monday. Lancaster Colony Corporation has a 12 month low of $113.33 and a 12 month high of $149.30. The company’s 50 day moving average price is $119.53 and its 200 day moving average price is $124.60. The stock has a market cap of $3.24 billion, a PE ratio of 28.07 and a beta of 1.02.

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

The business 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. The ex-dividend date is Thursday, September 7th. This represents a $2.20 annualized dividend and a yield of 1.87%. Lancaster Colony Corporation’s dividend payout ratio is currently 52.26%.

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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