Welch & Forbes LLC Acquires 2,870 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Welch & Forbes LLC increased its holdings in Lancaster Colony Co. (NASDAQ:LANC) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,226 shares of the company’s stock after acquiring an additional 2,870 shares during the quarter. Welch & Forbes LLC’s holdings in Lancaster Colony were worth $12,018,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in LANC. UMB Bank n.a. boosted its position in Lancaster Colony by 11.8% in the 4th quarter. UMB Bank n.a. now owns 894 shares of the company’s stock worth $149,000 after purchasing an additional 94 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Lancaster Colony by 141.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,181 shares of the company’s stock worth $195,000 after acquiring an additional 691 shares during the last quarter. Laurion Capital Management LP acquired a new stake in shares of Lancaster Colony during the 3rd quarter worth about $205,000. Nisa Investment Advisors LLC increased its position in shares of Lancaster Colony by 235.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the company’s stock worth $225,000 after purchasing an additional 950 shares during the last quarter. Finally, Keybank National Association OH boosted its holdings in Lancaster Colony by 48.8% during the 3rd quarter. Keybank National Association OH now owns 1,525 shares of the company’s stock valued at $252,000 after acquiring an additional 500 shares during the period. 66.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on LANC. StockNews.com upgraded Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Friday. Stephens restated an “equal weight” rating and set a $218.00 target price on shares of Lancaster Colony in a research report on Friday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Lancaster Colony currently has a consensus rating of “Hold” and a consensus price target of $198.75.

Lancaster Colony Trading Up 1.0 %

LANC stock traded up $1.88 during trading on Tuesday, reaching $193.79. The stock had a trading volume of 167,669 shares, compared to its average volume of 137,339. Lancaster Colony Co. has a 1-year low of $158.88 and a 1-year high of $218.96. The company has a market capitalization of $5.34 billion, a P/E ratio of 40.21 and a beta of 0.39. The firm has a fifty day moving average price of $198.87 and a 200 day moving average price of $182.56.

Lancaster Colony (NASDAQ:LANC) last issued its earnings results on Thursday, May 2nd. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.02. Lancaster Colony had a net margin of 7.10% and a return on equity of 18.96%. The business had revenue of $471.40 million for the quarter, compared to analyst estimates of $467.90 million. During the same quarter in the prior year, the business posted $0.89 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. Sell-side analysts predict that Lancaster Colony Co. will post 6.53 EPS for the current year.

Lancaster Colony Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 7th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Wednesday, March 6th. Lancaster Colony’s dividend payout ratio is presently 74.69%.

Insider Activity at Lancaster Colony

In other news, insider Kristin Bird sold 1,207 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $192.66, for a total value of $232,540.62. Following the completion of the transaction, the insider now directly owns 3,546 shares in the company, valued at $683,172.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 29.60% of the company’s stock.

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.