Mitsubishi UFJ Asset Management UK Ltd. Purchases 3,000 Shares of Lancaster Colony Co. (NASDAQ:LANC)

by · The Markets Daily

Mitsubishi UFJ Asset Management UK Ltd. boosted its position in shares of Lancaster Colony Co. (NASDAQ:LANC – Free Report) by 130.4% in the third quarter, HoldingsChannel reports. The fund owned 5,300 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Lancaster Colony were worth $936,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Lancaster Colony during the 2nd quarter valued at $1,528,000. Capstone Investment Advisors LLC purchased a new stake in Lancaster Colony in the first quarter valued at about $864,000. Susquehanna Fundamental Investments LLC acquired a new stake in Lancaster Colony in the first quarter worth about $868,000. Foguth Wealth Management LLC. purchased a new stake in shares of Lancaster Colony during the first quarter worth about $862,000. Finally, Leeward Investments LLC MA increased its holdings in shares of Lancaster Colony by 5.6% during the second quarter. Leeward Investments LLC MA now owns 51,981 shares of the company’s stock valued at $9,823,000 after acquiring an additional 2,771 shares in the last quarter. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Lancaster Colony Stock Performance

Shares of Lancaster Colony stock traded down $2.64 during trading on Friday, hitting $175.78. 96,696 shares of the company’s stock were exchanged, compared to its average volume of 128,289. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 36.47 and a beta of 0.35. The business has a 50-day simple moving average of $179.83 and a 200-day simple moving average of $186.33. Lancaster Colony Co. has a 52-week low of $160.01 and a 52-week high of $215.31.

Lancaster Colony (NASDAQ:LANC – Get Free Report) last released its quarterly earnings data on Thursday, August 22nd. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.06). The company had revenue of $452.83 million for the quarter, compared to analysts’ expectations of $462.70 million. Lancaster Colony had a net margin of 8.47% and a return on equity of 19.61%. On average, equities analysts anticipate that Lancaster Colony Co. will post 6.96 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Monday, September 9th. Lancaster Colony’s payout ratio is presently 74.69%.

Insider Buying and Selling at Lancaster Colony

In other news, Director Elliot K. Fullen bought 3,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was purchased at an average cost of $169.00 per share, with a total value of $507,000.00. Following the acquisition, the director now directly owns 5,298 shares in the company, valued at $895,362. This trade represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 29.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on LANC. Benchmark reissued a “hold” rating on shares of Lancaster Colony in a research report on Wednesday, September 18th. Stephens dropped their price objective on shares of Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd. Loop Capital reduced their target price on Lancaster Colony from $236.00 to $232.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Finally, StockNews.com downgraded Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Lancaster Colony currently has an average rating of “Hold” and a consensus price target of $195.75.

Get Our Latest Stock Report on LANC

Lancaster Colony Profile

(Free Report)

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.

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