Neuburgh Advisers LLC Purchases 544 Shares of Lancaster Colony Corp. (NASDAQ:LANC)
Neuburgh Advisers LLC lifted its position in shares of Lancaster Colony Corp. (NASDAQ:LANC) by 13.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,590 shares of the company’s stock after acquiring an additional 544 shares during the quarter. Neuburgh Advisers LLC’s holdings in Lancaster Colony were worth $719,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in LANC. Truehand Inc bought a new stake in Lancaster Colony in the fourth quarter valued at about $25,000. Captrust Financial Advisors increased its holdings in Lancaster Colony by 79.8% in the fourth quarter. Captrust Financial Advisors now owns 151 shares of the company’s stock valued at $27,000 after purchasing an additional 67 shares during the last quarter. Alpha Quant Advisors LLC increased its holdings in Lancaster Colony by 91.7% in the first quarter. Alpha Quant Advisors LLC now owns 232 shares of the company’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Lancaster Colony in the first quarter valued at about $43,000. Finally, Nisa Investment Advisors LLC increased its holdings in Lancaster Colony by 111.1% in the first quarter. Nisa Investment Advisors LLC now owns 285 shares of the company’s stock valued at $45,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 55.13% of the company’s stock.
Separately, BidaskClub upgraded Lancaster Colony from a “strong sell” rating to a “sell” rating in a report on Thursday.
Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.10). The company had revenue of $317.80 million during the quarter, compared to the consensus estimate of $325.01 million. Lancaster Colony had a net margin of 11.60% and a return on equity of 20.76%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $2.60 dividend on an annualized basis and a yield of 1.73%.
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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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