Quantinno Capital Management LP Has $2.22 Million Stock Position in Lancaster Colony Co. (NASDAQ:LANC)

Quantinno Capital Management LP boosted its stake in shares of Lancaster Colony Co. (NASDAQ:LANC) by 0.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,568 shares of the company’s stock after acquiring an additional 67 shares during the quarter. Quantinno Capital Management LP’s holdings in Lancaster Colony were worth $2,219,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LANC. Consolidated Planning Corp increased its holdings in shares of Lancaster Colony by 4.5% in the second quarter. Consolidated Planning Corp now owns 1,232 shares of the company’s stock valued at $233,000 after purchasing an additional 53 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Lancaster Colony by 2.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 2,506 shares of the company’s stock valued at $442,000 after buying an additional 57 shares during the period. Creative Financial Designs Inc. ADV raised its position in shares of Lancaster Colony by 1.8% during the third quarter. Creative Financial Designs Inc. ADV now owns 3,805 shares of the company’s stock worth $672,000 after acquiring an additional 67 shares during the last quarter. AlphaMark Advisors LLC lifted its stake in shares of Lancaster Colony by 5.2% during the third quarter. AlphaMark Advisors LLC now owns 1,686 shares of the company’s stock valued at $298,000 after acquiring an additional 83 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Lancaster Colony by 0.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 15,179 shares of the company’s stock valued at $2,868,000 after acquiring an additional 87 shares during the last quarter. 66.44% of the stock is owned by institutional investors.

Lancaster Colony Price Performance

Shares of NASDAQ:LANC opened at $189.97 on Wednesday. The firm’s 50 day simple moving average is $183.02 and its 200 day simple moving average is $183.99. Lancaster Colony Co. has a fifty-two week low of $161.54 and a fifty-two week high of $215.31. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 32.87 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last posted its earnings results on Thursday, October 31st. The company reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.08). Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The firm had revenue of $466.56 million during the quarter, compared to analyst estimates of $468.36 million. During the same quarter last year, the business posted $1.70 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts expect that Lancaster Colony Co. will post 6.7 earnings per share for the current year.

Lancaster Colony Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 5th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.00%. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, December 5th. Lancaster Colony’s payout ratio is presently 65.74%.

Analyst Upgrades and Downgrades

LANC has been the subject of several recent research reports. StockNews.com cut Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Stephens restated an “equal weight” rating and issued a $196.00 price objective on shares of Lancaster Colony in a report on Tuesday, November 19th. Loop Capital lowered their target price on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Benchmark reissued a “hold” rating on shares of Lancaster Colony in a research note on Tuesday, November 19th.

Lancaster Colony Profile

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.