Leeward Investments LLC MA Sells 3,584 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Leeward Investments LLC MA lowered its stake in shares of Lancaster Colony Co. (NASDAQ:LANC) by 6.9% during the 4th quarter, HoldingsChannel reports. The fund owned 48,227 shares of the company’s stock after selling 3,584 shares during the period. Leeward Investments LLC MA’s holdings in Lancaster Colony were worth $8,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Lancaster Colony by 243.2% during the 3rd quarter. Wellington Management Group LLP now owns 83,630 shares of the company’s stock worth $14,767,000 after purchasing an additional 59,261 shares in the last quarter. Boston Trust Walden Corp grew its holdings in Lancaster Colony by 20.5% during the 4th quarter. Boston Trust Walden Corp now owns 305,264 shares of the company’s stock valued at $52,853,000 after buying an additional 52,030 shares in the last quarter. Barclays PLC increased its position in shares of Lancaster Colony by 125.5% during the third quarter. Barclays PLC now owns 44,189 shares of the company’s stock valued at $7,803,000 after buying an additional 24,589 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in shares of Lancaster Colony in the third quarter worth about $3,853,000. Finally, SG Americas Securities LLC boosted its position in shares of Lancaster Colony by 336.2% in the fourth quarter. SG Americas Securities LLC now owns 23,393 shares of the company’s stock valued at $4,050,000 after acquiring an additional 18,030 shares during the period. 66.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Lancaster Colony news, CEO David Alan Ciesinski sold 17,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,250,230.00. Following the completion of the sale, the chief executive officer now directly owns 54,644 shares in the company, valued at $10,447,386.36. This represents a 23.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 29.50% of the company’s stock.

Lancaster Colony Stock Performance

Lancaster Colony stock opened at $194.81 on Monday. Lancaster Colony Co. has a fifty-two week low of $163.20 and a fifty-two week high of $209.81. The firm’s fifty day moving average price is $178.11 and its 200-day moving average price is $180.99. The stock has a market cap of $5.37 billion, a P/E ratio of 34.24 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.28. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The firm had revenue of $509.30 million during the quarter, compared to analyst estimates of $495.43 million. During the same quarter in the previous year, the company posted $1.87 earnings per share. The company’s revenue was up 4.8% compared to the same quarter last year. On average, analysts predict that Lancaster Colony Co. will post 6.8 earnings per share for the current year.

Lancaster Colony Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Friday, March 7th. Lancaster Colony’s payout ratio is currently 66.78%.

Analysts Set New Price Targets

A number of analysts recently weighed in on LANC shares. DA Davidson upped their target price on shares of Lancaster Colony from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Loop Capital decreased their price target on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Benchmark reissued a “hold” rating on shares of Lancaster Colony in a research note on Tuesday, November 19th. StockNews.com upgraded Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Stephens lifted their price target on Lancaster Colony from $196.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $211.33.

About Lancaster Colony

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.