Dowling & Yahnke LLC lessened its position in Lancaster Colony Corporation (NASDAQ:LANC) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 170,065 shares of the company’s stock after selling 5,700 shares during the quarter. Lancaster Colony Corporation comprises 2.1% of Dowling & Yahnke LLC’s holdings, making the stock its 5th largest position. Dowling & Yahnke LLC owned 0.62% of Lancaster Colony Corporation worth $20,428,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Lancaster Colony Corporation by 0.6% in the second quarter. Vanguard Group Inc. now owns 1,887,011 shares of the company’s stock valued at $231,385,000 after acquiring an additional 11,486 shares in the last quarter. Renaissance Technologies LLC lifted its position in Lancaster Colony Corporation by 23.0% during the second quarter. Renaissance Technologies LLC now owns 750,762 shares of the company’s stock worth $92,058,000 after buying an additional 140,262 shares in the last quarter. Neuberger Berman Group LLC lifted its position in Lancaster Colony Corporation by 5.1% during the second quarter. Neuberger Berman Group LLC now owns 730,573 shares of the company’s stock worth $89,583,000 after buying an additional 35,303 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Lancaster Colony Corporation by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 495,572 shares of the company’s stock worth $60,766,000 after buying an additional 3,146 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in Lancaster Colony Corporation by 4.2% during the third quarter. Fisher Asset Management LLC now owns 419,791 shares of the company’s stock worth $50,425,000 after buying an additional 16,908 shares in the last quarter. Institutional investors and hedge funds own 50.02% of the company’s stock.
Shares of Lancaster Colony Corporation (NASDAQ:LANC) traded up $0.20 during trading on Monday, reaching $126.41. The company had a trading volume of 82,900 shares, compared to its average volume of 107,335. Lancaster Colony Corporation has a 52-week low of $113.33 and a 52-week high of $149.30. The stock has a market capitalization of $3,469.01, a P/E ratio of 28.22 and a beta of 1.04.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be given a dividend of $0.60 per share. This is an increase from Lancaster Colony Corporation’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $2.40 dividend on an annualized basis and a yield of 1.90%. Lancaster Colony Corporation’s dividend payout ratio (DPR) is presently 54.19%.
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A number of brokerages recently commented on LANC. Zacks Investment Research downgraded Lancaster Colony Corporation from a “hold” rating to a “sell” rating in a research report on Friday. Wedbush reiterated a “buy” rating on shares of Lancaster Colony Corporation in a research report on Friday, August 18th. Finally, BidaskClub upgraded Lancaster Colony Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $154.67.
About Lancaster Colony Corporation
Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar.
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