6 Meridian Buys New Stake in Lancaster Colony Corp. (LANC)
6 Meridian bought a new stake in Lancaster Colony Corp. (NASDAQ:LANC) during the first quarter, HoldingsChannel reports. The institutional investor bought 2,734 shares of the company’s stock, valued at approximately $428,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of LANC. Bank of New York Mellon Corp increased its holdings in shares of Lancaster Colony by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 273,821 shares of the company’s stock worth $40,857,000 after buying an additional 2,965 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Lancaster Colony by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 511,862 shares of the company’s stock worth $76,373,000 after buying an additional 1,964 shares in the last quarter. AMP Capital Investors Ltd acquired a new position in shares of Lancaster Colony during the third quarter worth $383,000. GSA Capital Partners LLP acquired a new position in shares of Lancaster Colony during the third quarter worth $209,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Lancaster Colony by 109.4% during the third quarter. Tower Research Capital LLC TRC now owns 1,087 shares of the company’s stock worth $162,000 after buying an additional 568 shares in the last quarter. 53.76% of the stock is currently owned by institutional investors.
Separately, BidaskClub downgraded Lancaster Colony from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 27th.
Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings data on Thursday, January 31st. The company reported $1.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.48 by ($0.01). The company had revenue of $349.58 million during the quarter. Lancaster Colony had a net margin of 11.56% and a return on equity of 20.95%.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were issued a $0.65 dividend. The ex-dividend date was Thursday, March 7th. This represents a $2.60 dividend on an annualized basis and a yield of 1.66%.
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About Lancaster Colony
Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates through two segments, Retail and Foodservice. It offers frozen garlic breads under the New York BRAND Bakery brand; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand name; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardini's, and Girard's brands; and vegetable dips and fruit dips under the Marzetti brand.
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