Lancaster Colony Corporation (LANC) Holdings Boosted by OxFORD Asset Management LLP
OxFORD Asset Management LLP raised its stake in shares of Lancaster Colony Corporation (NASDAQ:LANC) by 48.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,339 shares of the company’s stock after acquiring an additional 7,307 shares during the period. OxFORD Asset Management LLP owned about 0.08% of Lancaster Colony Corporation worth $2,739,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of LANC. BlackRock Inc. boosted its holdings in Lancaster Colony Corporation by 6,130.9% during the 1st quarter. BlackRock Inc. now owns 1,964,804 shares of the company’s stock worth $253,145,000 after acquiring an additional 1,933,271 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Lancaster Colony Corporation by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,887,011 shares of the company’s stock worth $231,385,000 after acquiring an additional 11,486 shares in the last quarter. State Street Corp grew its stake in shares of Lancaster Colony Corporation by 3.3% in the 1st quarter. State Street Corp now owns 1,436,174 shares of the company’s stock worth $185,035,000 after acquiring an additional 45,281 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Lancaster Colony Corporation by 23.0% in the 2nd quarter. Renaissance Technologies LLC now owns 750,762 shares of the company’s stock worth $92,058,000 after acquiring an additional 140,262 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake in shares of Lancaster Colony Corporation by 5.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 730,573 shares of the company’s stock worth $89,583,000 after acquiring an additional 35,303 shares in the last quarter. Institutional investors and hedge funds own 49.80% of the company’s stock.
Several analysts have recently commented on LANC shares. BidaskClub upgraded shares of Lancaster Colony Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. Wedbush restated a “buy” rating on shares of Lancaster Colony Corporation in a report on Friday, August 18th. Finally, Zacks Investment Research upgraded shares of Lancaster Colony Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $152.00.
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Shares of Lancaster Colony Corporation (LANC) opened at 121.74 on Wednesday. The company’s 50 day moving average price is $118.18 and its 200-day moving average price is $123.42. The stock has a market capitalization of $3.34 billion, a P/E ratio of 28.99 and a beta of 1.03. Lancaster Colony Corporation has a 12 month low of $113.34 and a 12 month high of $149.30.
Lancaster Colony Corporation (NASDAQ:LANC) last issued its earnings results on Thursday, August 17th. The company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.08). The firm had revenue of $289.90 million during the quarter, compared to analysts’ expectations of $295.05 million. Lancaster Colony Corporation had a return on equity of 22.76% and a net margin of 9.59%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $1.12 earnings per share. Equities analysts predict that Lancaster Colony Corporation will post $4.72 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 8th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Thursday, September 7th. Lancaster Colony Corporation’s payout ratio is 52.26%.
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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