Quantitative Systematic Strategies LLC Reduces Position in Lancaster Colony Co. (NASDAQ:LANC)

Quantitative Systematic Strategies LLC trimmed its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC) by 55.3% during the second quarter, Holdings Channel reports. The fund owned 2,132 shares of the company’s stock after selling 2,639 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Lancaster Colony were worth $413,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GW&K Investment Management LLC increased its position in shares of Lancaster Colony by 12.4% during the first quarter. GW&K Investment Management LLC now owns 243,921 shares of the company’s stock worth $42,774,000 after acquiring an additional 26,821 shares during the last quarter. UBS Group AG grew its stake in Lancaster Colony by 8.2% in the first quarter. UBS Group AG now owns 22,024 shares of the company’s stock worth $3,862,000 after purchasing an additional 1,671 shares in the last quarter. BlackRock Inc. grew its stake in Lancaster Colony by 3.8% in the first quarter. BlackRock Inc. now owns 2,314,676 shares of the company’s stock worth $405,901,000 after purchasing an additional 83,853 shares in the last quarter. New Mexico Educational Retirement Board grew its stake in Lancaster Colony by 20.6% in the second quarter. New Mexico Educational Retirement Board now owns 4,100 shares of the company’s stock worth $793,000 after purchasing an additional 700 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Lancaster Colony by 13.7% in the first quarter. Principal Financial Group Inc. now owns 69,957 shares of the company’s stock worth $12,268,000 after purchasing an additional 8,415 shares in the last quarter. 57.55% of the stock is currently owned by institutional investors and hedge funds.

Shares of LANC stock opened at $168.63 on Thursday. The business has a 50 day moving average of $184.67 and a two-hundred day moving average of $186.41. Lancaster Colony Co. has a 52 week low of $162.53 and a 52 week high of $201.31. The company has a market cap of $4.64 billion, a P/E ratio of 32.62 and a beta of 0.17.

Lancaster Colony (NASDAQ:LANC) last issued its earnings results on Wednesday, August 25th. The company reported $1.43 EPS for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.12. Lancaster Colony had a return on equity of 17.58% and a net margin of 9.70%. The company had revenue of $385.57 million during the quarter, compared to the consensus estimate of $368.29 million. During the same period in the previous year, the firm posted $1.10 earnings per share. Lancaster Colony’s quarterly revenue was up 20.2% compared to the same quarter last year. As a group, analysts anticipate that Lancaster Colony Co. will post 6.24 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Friday, September 10th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Thursday, September 9th. This represents a $3.00 dividend on an annualized basis and a yield of 1.78%. Lancaster Colony’s payout ratio is currently 57.03%.

LANC has been the subject of a number of research reports. Zacks Investment Research downgraded Lancaster Colony from a “hold” rating to a “sell” rating in a research note on Saturday, July 3rd. Sidoti initiated coverage on Lancaster Colony in a research note on Thursday, June 17th. They issued a “neutral” rating and a $205.00 price target for the company.

Lancaster Colony Company Profile

Lancaster Colony Corp. engages in the manufacture and sale of specialty food products. It operates through the following segments: Retail and Foodservice. The Retail and Foodservices segments focuses in the manufacture and selling of frozen breads, refrigerated dressings and dips and shelf-stable dressings and croutons under the brand name New York BRAND Bakery, Sister Schubert’s, Marzetti Frozen Pasta and Flatout.

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

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