Point72 Asia Singapore Pte. Ltd. Has $684,000 Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Lancaster Colony Co. (NASDAQ:LANC) by 883.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,874 shares of the company’s stock after purchasing an additional 3,480 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Lancaster Colony were worth $684,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Lancaster Colony during the 2nd quarter worth approximately $1,528,000. Leeward Investments LLC MA increased its holdings in shares of Lancaster Colony by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 51,981 shares of the company’s stock worth $9,823,000 after acquiring an additional 2,771 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in shares of Lancaster Colony during the 2nd quarter worth approximately $658,000. Anthracite Investment Company Inc. acquired a new position in shares of Lancaster Colony during the 3rd quarter worth approximately $1,204,000. Finally, Empowered Funds LLC acquired a new position in shares of Lancaster Colony during the 3rd quarter worth approximately $2,244,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LANC shares. Stephens reissued an “equal weight” rating and set a $196.00 target price on shares of Lancaster Colony in a report on Tuesday, November 19th. Benchmark reissued a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th. Loop Capital decreased their target price on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, StockNews.com lowered Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Lancaster Colony has an average rating of “Hold” and a consensus target price of $202.67.

Lancaster Colony Price Performance

Shares of NASDAQ LANC opened at $185.84 on Monday. The stock’s fifty day moving average price is $182.06 and its two-hundred day moving average price is $184.19. Lancaster Colony Co. has a one year low of $161.54 and a one year high of $215.31. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 32.15 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.08). The firm had revenue of $466.56 million during the quarter, compared to analyst estimates of $468.36 million. Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.70 earnings per share. On average, equities analysts anticipate that Lancaster Colony Co. will post 6.72 earnings per share for the current fiscal year.

Lancaster Colony Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.04%. This is an increase from Lancaster Colony’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, December 5th. Lancaster Colony’s dividend payout ratio is presently 62.28%.

About Lancaster Colony

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.