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Teacher Retirement System of Texas boosted its stake in shares of Lancaster Colony Co. (NASDAQ:LANC – Get Rating) by 115.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,916 shares of the company’s stock after purchasing an additional 3,171 shares during the period. Teacher Retirement System of Texas’ holdings in Lancaster Colony were worth $1,167,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of LANC. William Blair Investment Management LLC acquired a new stake in Lancaster Colony during the 4th quarter worth about $147,751,000. State Street Corp grew its position in Lancaster Colony by 20.2% during the 3rd quarter. State Street Corp now owns 2,443,913 shares of the company’s stock worth $367,271,000 after purchasing an additional 410,104 shares during the period. BlackRock Inc. grew its position in Lancaster Colony by 5.6% during the 3rd quarter. BlackRock Inc. now owns 2,423,293 shares of the company’s stock worth $364,172,000 after purchasing an additional 129,054 shares during the period. Thrivent Financial for Lutherans grew its position in Lancaster Colony by 545.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 77,831 shares of the company’s stock worth $15,356,000 after purchasing an additional 65,775 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in shares of Lancaster Colony during the 3rd quarter worth about $6,944,000. Hedge funds and other institutional investors own 60.69% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Tuesday.
Lancaster Colony Trading Down 0.5 %
Shares of Lancaster Colony stock opened at $198.33 on Friday. The firm has a market capitalization of $5.46 billion, a PE ratio of 41.67 and a beta of 0.22. Lancaster Colony Co. has a twelve month low of $116.85 and a twelve month high of $220.65. The firm’s 50-day moving average price is $205.59 and its 200 day moving average price is $199.84.
Lancaster Colony (NASDAQ:LANC – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.11). The company had revenue of $464.94 million during the quarter, compared to analysts’ expectations of $443.08 million. Lancaster Colony had a net margin of 7.21% and a return on equity of 16.13%. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 earnings per share. On average, sell-side analysts predict that Lancaster Colony Co. will post 5 EPS for the current fiscal year.
Lancaster Colony Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 9th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, June 8th. Lancaster Colony’s dividend payout ratio is presently 71.43%.
Lancaster Colony Profile
(Get Rating)
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 Foodservice segments both focus on the manufacture and sale of frozen breads, refrigerated dressings, dips and shelf-stable dressings, and croutons under the brand names New York BRAND Bakery, Sister Schubert’s, Marzetti Frozen Pasta, and Flatout.
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