WCM Investment Management LLC Sells 6,117 Shares of Lancaster Colony Corporation (NASDAQ:LANC)

WCM Investment Management LLC lowered its position in Lancaster Colony Corporation (NASDAQ:LANC - Free Report) by 5.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,474 shares of the company's stock after selling 6,117 shares during the quarter. WCM Investment Management LLC owned 0.36% of Lancaster Colony worth $17,387,000 as of its most recent SEC filing.

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Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in Lancaster Colony by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 213,854 shares of the company's stock worth $37,027,000 after purchasing an additional 9,861 shares during the period. Oppenheimer Asset Management Inc. raised its position in Lancaster Colony by 6.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 7,378 shares of the company's stock worth $1,277,000 after purchasing an additional 443 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Lancaster Colony by 4,728.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,352 shares of the company's stock valued at $234,000 after purchasing an additional 1,324 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Lancaster Colony by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 285,999 shares of the company's stock valued at $49,518,000 after purchasing an additional 5,168 shares during the period. Finally, Bahl & Gaynor Inc. raised its holdings in shares of Lancaster Colony by 9.6% in the 4th quarter. Bahl & Gaynor Inc. now owns 158,057 shares of the company's stock worth $27,366,000 after buying an additional 13,822 shares in the last quarter. Institutional investors own 66.44% of the company's stock.

Lancaster Colony Trading Up 0.6%

Lancaster Colony stock opened at $172.77 on Wednesday. The firm has a market capitalization of $4.76 billion, a P/E ratio of 28.09 and a beta of 0.47. The business has a 50-day moving average of $169.60 and a 200-day moving average of $176.60. Lancaster Colony Corporation has a 1 year low of $156.14 and a 1 year high of $202.63.

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Lancaster Colony (NASDAQ:LANC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.07). The business had revenue of $457.84 million for the quarter, compared to the consensus estimate of $483.47 million. Lancaster Colony had a net margin of 8.99% and a return on equity of 19.30%. The company's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 EPS. Research analysts anticipate that Lancaster Colony Corporation will post 6.8 EPS for the current fiscal year.

Lancaster Colony Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, June 6th. Lancaster Colony's payout ratio is presently 61.79%.

Analysts Set New Price Targets

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

LANC has been the topic of several recent analyst reports. Benchmark raised Lancaster Colony from a "hold" rating to a "buy" rating and set a $185.00 price target on the stock in a research note on Thursday, May 1st. Wall Street Zen downgraded shares of Lancaster Colony from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Stephens dropped their target price on shares of Lancaster Colony from $200.00 to $195.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $203.50.

Check Out Our Latest Stock Report on LANC

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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