Leeward Investments LLC MA Sells 401 Shares of Lancaster Colony Co. (NASDAQ:LANC)

Leeward Investments LLC MA reduced its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,336 shares of the company’s stock after selling 401 shares during the period. Leeward Investments LLC MA owned 0.19% of Lancaster Colony worth $8,542,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. UMB Bank n.a. lifted its stake in Lancaster Colony by 11.8% in the fourth quarter. UMB Bank n.a. now owns 894 shares of the company’s stock valued at $149,000 after purchasing an additional 94 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Lancaster Colony by 141.0% in the third quarter. Daiwa Securities Group Inc. now owns 1,181 shares of the company’s stock valued at $195,000 after purchasing an additional 691 shares during the last quarter. Laurion Capital Management LP purchased a new position in Lancaster Colony in the third quarter valued at approximately $205,000. Nisa Investment Advisors LLC lifted its stake in Lancaster Colony by 235.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the company’s stock valued at $225,000 after purchasing an additional 950 shares during the last quarter. Finally, Keybank National Association OH lifted its stake in Lancaster Colony by 48.8% in the third quarter. Keybank National Association OH now owns 1,525 shares of the company’s stock valued at $252,000 after purchasing an additional 500 shares during the last quarter. 66.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Stephens downgraded Lancaster Colony from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $205.00 to $218.00 in a research note on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $198.75.

Lancaster Colony Price Performance

Shares of NASDAQ:LANC traded down $0.95 during trading on Friday, hitting $187.03. 149,765 shares of the company were exchanged, compared to its average volume of 135,075. The company has a market cap of $5.15 billion, a PE ratio of 39.96 and a beta of 0.35. The stock has a 50 day moving average of $199.39 and a 200 day moving average of $181.70. Lancaster Colony Co. has a 52-week low of $158.88 and a 52-week high of $220.65.

Lancaster Colony (NASDAQ:LANC) last posted its earnings results on Thursday, February 1st. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.27. The firm had revenue of $485.92 million for the quarter, compared to the consensus estimate of $489.00 million. Lancaster Colony had a return on equity of 17.37% and a net margin of 6.92%. Sell-side analysts forecast that Lancaster Colony Co. will post 6.47 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 7th were issued a $0.90 dividend. The ex-dividend date was Wednesday, March 6th. This represents a $3.60 annualized dividend and a dividend yield of 1.92%. Lancaster Colony’s payout ratio is currently 76.92%.

Insider Transactions at Lancaster Colony

In other news, insider Kristin Bird sold 1,207 shares of the company’s stock in a transaction 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 transaction, the insider now owns 3,546 shares of the company’s stock, valued at $683,172.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.