California State Teachers Retirement System trimmed its position in shares of Lancaster Colony Corporation (NASDAQ:LANC) by 9.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,329 shares of the company’s stock after selling 3,667 shares during the quarter. California State Teachers Retirement System owned 0.12% of Lancaster Colony Corporation worth $4,087,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. lifted its position in Lancaster Colony Corporation by 0.9% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 17,969 shares of the company’s stock valued at $2,204,000 after acquiring an additional 167 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Lancaster Colony Corporation by 1.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,569 shares of the company’s stock worth $5,219,000 after buying an additional 407 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in Lancaster Colony Corporation by 55.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the company’s stock worth $270,000 after buying an additional 789 shares in the last quarter. BlueCrest Capital Management Ltd bought a new stake in Lancaster Colony Corporation during the 2nd quarter worth about $2,559,000. Finally, Flinton Capital Management LLC lifted its position in Lancaster Colony Corporation by 51.9% during the 2nd quarter. Flinton Capital Management LLC now owns 2,296 shares of the company’s stock worth $282,000 after buying an additional 784 shares in the last quarter. 49.90% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the stock. Wedbush reiterated a “buy” rating on shares of Lancaster Colony Corporation in a research note on Friday, August 18th. BidaskClub upgraded shares of Lancaster Colony Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. Finally, Zacks Investment Research raised shares of Lancaster Colony Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $154.67.
Shares of Lancaster Colony Corporation (NASDAQ LANC) opened at $123.45 on Monday. The firm has a market cap of $3,387.78, a price-to-earnings ratio of 27.56 and a beta of 1.04. Lancaster Colony Corporation has a 12-month low of $113.33 and a 12-month high of $149.30.
Lancaster Colony Corporation (NASDAQ:LANC) last posted its quarterly earnings results on Thursday, October 26th. The company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). Lancaster Colony Corporation had a return on equity of 21.50% and a net margin of 9.20%. The company had revenue of $298.92 million during the quarter, compared to analyst estimates of $298.75 million. During the same quarter in the previous year, the business posted $1.22 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. equities research analysts expect that Lancaster Colony Corporation will post 4.75 EPS for the current fiscal year.
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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