California Public Employees Retirement System Has $17.64 Million Holdings in Lancaster Colony Co. (NASDAQ:LANC)

California Public Employees Retirement System raised its position in shares of Lancaster Colony Co. (NASDAQ:LANCFree Report) by 4.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 106,872 shares of the company’s stock after purchasing an additional 4,189 shares during the quarter. California Public Employees Retirement System’s holdings in Lancaster Colony were worth $17,637,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LANC. State Street Corp increased 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 valued at $367,271,000 after purchasing an additional 410,104 shares during the period. BlackRock Inc. increased its position in Lancaster Colony by 6.1% during the 1st quarter. BlackRock Inc. now owns 2,559,086 shares of the company’s stock valued at $519,187,000 after purchasing an additional 147,890 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Lancaster Colony by 2,591.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 141,009 shares of the company’s stock worth $28,355,000 after buying an additional 135,770 shares during the period. Morgan Stanley increased its stake in shares of Lancaster Colony by 76.1% in the 4th quarter. Morgan Stanley now owns 269,076 shares of the company’s stock valued at $53,089,000 after acquiring an additional 116,274 shares in the last quarter. Finally, Comerica Bank acquired a new position in shares of Lancaster Colony during the 2nd quarter valued at $232,050,000. Institutional investors and hedge funds own 60.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LANC. Stephens initiated coverage on shares of Lancaster Colony in a research report on Friday, October 13th. They set an “overweight” rating and a $205.00 price objective on the stock. StockNews.com initiated coverage on Lancaster Colony in a research note on Thursday, October 5th. They issued a “hold” rating for the company. DA Davidson started coverage on shares of Lancaster Colony in a research report on Friday, December 8th. They issued a “neutral” rating and a $185.00 price target for the company. TheStreet raised shares of Lancaster Colony from a “c+” rating to a “b-” rating in a research report on Tuesday, November 7th. Finally, Jefferies Financial Group assumed coverage on Lancaster Colony in a research note on Monday, November 27th. They set a “hold” rating and a $166.00 price target for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Lancaster Colony currently has a consensus rating of “Hold” and an average price target of $195.50.

Check Out Our Latest Stock Analysis on Lancaster Colony

Lancaster Colony Stock Performance

LANC traded up $0.86 during mid-day trading on Friday, reaching $179.34. 32,602 shares of the stock were exchanged, compared to its average volume of 112,330. The stock has a market capitalization of $4.94 billion, a PE ratio of 41.97 and a beta of 0.27. The company has a 50 day moving average price of $167.99 and a two-hundred day moving average price of $172.65. Lancaster Colony Co. has a 1 year low of $158.88 and a 1 year high of $220.65.

Lancaster Colony (NASDAQ:LANCGet Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.16. The firm had revenue of $461.57 million for the quarter, compared to the consensus estimate of $445.90 million. Lancaster Colony had a net margin of 6.33% and a return on equity of 16.02%. Sell-side analysts expect that Lancaster Colony Co. will post 5.88 EPS for the current fiscal year.

Lancaster Colony Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 4th were issued a dividend of $0.90 per share. This is a positive change from Lancaster Colony’s previous quarterly dividend of $0.85. This represents a $3.60 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Friday, December 1st. Lancaster Colony’s dividend payout ratio (DPR) is 84.51%.

Lancaster Colony Company 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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Institutional Ownership by Quarter for Lancaster Colony (NASDAQ:LANC)

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