Robeco Institutional Asset Management B.V. grew its position in shares of Lancaster Colony Corp. (NASDAQ:LANC) by 26.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 435,532 shares of the company’s stock after purchasing an additional 91,985 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 1.58% of Lancaster Colony worth $68,241,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Lancaster Colony in the fourth quarter worth about $39,635,000. Victory Capital Management Inc. bought a new stake in shares of Lancaster Colony during the fourth quarter valued at approximately $26,687,000. Virginia Retirement Systems ET AL bought a new stake in shares of Lancaster Colony during the first quarter valued at approximately $12,332,000. Ellis Investment Partners LLC bought a new stake in shares of Lancaster Colony during the first quarter valued at approximately $52,000. Finally, Acadian Asset Management LLC raised its stake in shares of Lancaster Colony by 128.5% during the fourth quarter. Acadian Asset Management LLC now owns 91,059 shares of the company’s stock valued at $16,107,000 after acquiring an additional 51,207 shares in the last quarter. Hedge funds and other institutional investors own 55.14% of the company’s stock.
Separately, BidaskClub lowered shares of Lancaster Colony from a “hold” rating to a “sell” rating in a report on Wednesday, January 30th.
LANC stock traded down $0.15 during trading on Wednesday, hitting $143.83. 99,900 shares of the company’s stock traded hands, compared to its average volume of 138,817. Lancaster Colony Corp. has a 1 year low of $125.06 and a 1 year high of $194.38. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 28.18 and a beta of 0.27.
Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.10). The firm had revenue of $317.80 million during the quarter, compared to analysts’ expectations of $325.01 million. Lancaster Colony had a return on equity of 20.76% and a net margin of 11.60%. Lancaster Colony’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, June 6th.
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Lancaster Colony Profile
Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates through two segments, Retail and Foodservice. It offers frozen garlic breads under the New York BRAND Bakery brand; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand name; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardini's, and Girard's brands; and vegetable dips and fruit dips under the Marzetti brand.
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