Atlanta Capital Management Co. L L C Has $23.88 Million Holdings in Lancaster Colony Corporation (LANC)
Atlanta Capital Management Co. L L C lowered its stake in Lancaster Colony Corporation (NASDAQ:LANC) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 198,777 shares of the company’s stock after selling 446 shares during the quarter. Atlanta Capital Management Co. L L C owned approximately 0.72% of Lancaster Colony worth $23,877,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of LANC. Renaissance Technologies LLC increased its position in Lancaster Colony by 23.0% during the 2nd quarter. Renaissance Technologies LLC now owns 750,762 shares of the company’s stock valued at $92,058,000 after purchasing an additional 140,262 shares during the period. Royce & Associates LP grew its position in shares of Lancaster Colony by 40.7% during the 2nd quarter. Royce & Associates LP now owns 171,000 shares of the company’s stock worth $20,968,000 after buying an additional 49,500 shares during the period. Neuberger Berman Group LLC grew its position in shares of Lancaster Colony by 5.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 730,573 shares of the company’s stock worth $89,583,000 after buying an additional 35,303 shares during the period. Citadel Advisors LLC grew its position in shares of Lancaster Colony by 592.2% during the 2nd quarter. Citadel Advisors LLC now owns 37,137 shares of the company’s stock worth $4,554,000 after buying an additional 31,772 shares during the period. Finally, WINTON GROUP Ltd grew its position in shares of Lancaster Colony by 109.7% during the 2nd quarter. WINTON GROUP Ltd now owns 59,976 shares of the company’s stock worth $7,354,000 after buying an additional 31,379 shares during the period. 51.28% of the stock is owned by hedge funds and other institutional investors.
LANC has been the subject of several recent analyst reports. Wedbush reaffirmed a “buy” rating on shares of Lancaster Colony in a research report on Friday, August 18th. Zacks Investment Research raised shares of Lancaster Colony from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, BidaskClub raised shares of Lancaster Colony from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $154.67.
Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings data on Thursday, October 26th. The company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.04). Lancaster Colony had a net margin of 9.20% and a return on equity of 21.50%. The company had revenue of $298.92 million for the quarter, compared to the consensus estimate of $298.75 million. During the same quarter last year, the business posted $1.22 earnings per share. Lancaster Colony’s revenue was up 2.6% on a year-over-year basis. equities analysts forecast that Lancaster Colony Corporation will post 4.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.84%. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Thursday, December 7th. Lancaster Colony’s payout ratio is presently 59.26%.
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About Lancaster Colony
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.
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