Lancaster Colony Co. (NASDAQ:LANC) Position Cut by Wellington Management Group LLP

Wellington Management Group LLP decreased its stake in shares of Lancaster Colony Co. (NASDAQ:LANC - Free Report) by 87.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,771 shares of the company's stock after selling 72,859 shares during the period. Wellington Management Group LLP's holdings in Lancaster Colony were worth $1,865,000 as of its most recent SEC filing.

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Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Lancaster Colony in the 4th quarter worth approximately $206,000. Jefferies Financial Group Inc. acquired a new stake in shares of Lancaster Colony during the fourth quarter worth approximately $829,000. Pullen Investment Management LLC boosted its stake in shares of Lancaster Colony by 30.9% during the 4th quarter. Pullen Investment Management LLC now owns 5,517 shares of the company's stock valued at $955,000 after buying an additional 1,301 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Lancaster Colony by 18.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,516 shares of the company's stock valued at $7,188,000 after purchasing an additional 6,375 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Lancaster Colony by 10.2% in the 4th quarter. ProShare Advisors LLC now owns 238,055 shares of the company's stock valued at $41,217,000 after buying an additional 22,019 shares in the last quarter. Institutional investors own 66.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LANC shares. DA Davidson upped their price objective on shares of Lancaster Colony from $192.00 to $207.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Wall Street Zen lowered Lancaster Colony from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Benchmark raised shares of Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 target price on the stock in a research note on Thursday, May 1st. Finally, Stephens lowered their price target on Lancaster Colony from $200.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $203.50.

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Get Our Latest Report on Lancaster Colony

Lancaster Colony Stock Up 0.0%

Shares of NASDAQ LANC opened at $167.09 on Friday. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 29.37 and a beta of 0.50. Lancaster Colony Co. has a 12-month low of $156.14 and a 12-month high of $202.63. The firm's 50-day simple moving average is $173.78 and its 200 day simple moving average is $178.74.

• Lancaster Colony Corporation NASDAQ: LANC Is About To Raise The Dividend

Lancaster Colony (NASDAQ:LANC - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $1.54 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.07). The firm had revenue of $457.84 million during the quarter, compared to analyst estimates of $483.47 million. Lancaster Colony had a net margin of 8.26% and a return on equity of 19.51%. The firm's quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the business posted $1.44 earnings per share. On average, equities analysts expect that Lancaster Colony Co. will post 6.8 earnings per share for the current year.

Lancaster Colony Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, June 6th. Lancaster Colony's dividend payout ratio (DPR) is currently 61.79%.

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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