Posted by ABMN Staff on May 17th, 2024
M&T Bank Corp grew its stake in shares of Lancaster Colony Co. (NASDAQ:LANC – Free Report) by 11.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,835 shares of the company’s stock after acquiring an additional 184 shares during the quarter. M&T Bank Corp’s holdings in Lancaster Colony were worth $305,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. increased its stake in Lancaster Colony by 11.8% during the 4th quarter. UMB Bank n.a. now owns 894 shares of the company’s stock valued at $149,000 after purchasing an additional 94 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Lancaster Colony by 141.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,181 shares of the company’s stock worth $195,000 after acquiring an additional 691 shares during the last quarter. Laurion Capital Management LP acquired a new stake in Lancaster Colony during the 3rd quarter worth about $205,000. Nisa Investment Advisors LLC lifted its position in Lancaster Colony by 235.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the company’s stock worth $225,000 after acquiring an additional 950 shares during the period. Finally, Keybank National Association OH increased its holdings in shares of Lancaster Colony by 48.8% in the third quarter. Keybank National Association OH now owns 1,525 shares of the company’s stock valued at $252,000 after purchasing an additional 500 shares during the period. 66.44% of the stock is owned by hedge funds and other institutional investors.
Lancaster Colony Trading Down 0.4 %
Shares of LANC stock opened at $192.57 on Friday. Lancaster Colony Co. has a twelve month low of $158.88 and a twelve month high of $215.31. The stock has a market cap of $5.30 billion, a P/E ratio of 39.95 and a beta of 0.39. The stock has a 50 day moving average of $197.46 and a 200 day moving average of $183.87.
Lancaster Colony (NASDAQ:LANC – Get Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.02. Lancaster Colony had a net margin of 7.10% and a return on equity of 18.96%. The firm had revenue of $471.40 million during the quarter, compared to analyst estimates of $467.90 million. During the same period in the previous year, the firm earned $0.89 EPS. The business’s quarterly revenue was up 1.4% on a year-over-year basis. On average, research analysts predict that Lancaster Colony Co. will post 6.52 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research firms recently commented on LANC. Stephens reaffirmed an “equal weight” rating and set a $218.00 target price on shares of Lancaster Colony in a report on Friday, May 3rd. StockNews.com raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $198.75.
Get Our Latest Stock Report on Lancaster Colony
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.
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