First Trust Advisors LP decreased its holdings in Lancaster Colony Corp. (NASDAQ:LANC) by 83.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,008 shares of the company’s stock after selling 173,593 shares during the quarter. First Trust Advisors LP’s holdings in Lancaster Colony were worth $4,707,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Wells Fargo & Company MN raised its holdings in shares of Lancaster Colony by 3.5% in the 1st quarter. Wells Fargo & Company MN now owns 84,583 shares of the company’s stock valued at $10,415,000 after buying an additional 2,863 shares during the period. Summit Global Investments raised its holdings in shares of Lancaster Colony by 11.4% in the 1st quarter. Summit Global Investments now owns 4,900 shares of the company’s stock valued at $603,000 after buying an additional 500 shares during the period. Prudential Financial Inc. raised its holdings in shares of Lancaster Colony by 14.7% in the 1st quarter. Prudential Financial Inc. now owns 23,243 shares of the company’s stock valued at $2,862,000 after buying an additional 2,980 shares during the period. Eaton Vance Management purchased a new stake in shares of Lancaster Colony in the 1st quarter valued at $1,742,000. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Lancaster Colony by 32.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 212,427 shares of the company’s stock valued at $26,159,000 after buying an additional 51,842 shares during the period. Institutional investors and hedge funds own 53.61% of the company’s stock.

LANC stock opened at $155.04 on Friday. The firm has a market capitalization of $4.26 billion, a P/E ratio of 35.32 and a beta of 0.94. Lancaster Colony Corp. has a 12-month low of $114.35 and a 12-month high of $160.98.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings data on Thursday, August 23rd. The company reported $1.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.09. The firm had revenue of $308.17 million for the quarter, compared to the consensus estimate of $294.30 million. Lancaster Colony had a return on equity of 19.36% and a net margin of 11.06%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 7th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $2.40 annualized dividend and a dividend yield of 1.55%.

Several research firms recently issued reports on LANC. CL King downgraded Lancaster Colony from a “buy” rating to a “neutral” rating in a report on Friday, August 10th. They noted that the move was a valuation call. BidaskClub downgraded Lancaster Colony from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. Finally, Vertical Group downgraded Lancaster Colony from a “buy” rating to a “hold” rating in a report on Wednesday, June 27th.

Lancaster Colony Profile

Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. It offers salad dressings and sauces under the Marzetti, Marzetti Simply Dressed, Cardini's, and Girard's brands; vegetable dips and fruit dips under the Marzetti brand; frozen garlic breads under the New York BRAND Bakery, Mamma Bella, and Mamma Bella's brands; and frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's and Mary B's brands.

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

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