Renaissance Technologies LLC Has $54.14 Million Stake in Lancaster Colony Co. (NASDAQ:LANC)

Renaissance Technologies LLC trimmed its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 312,718 shares of the company’s stock after selling 31,662 shares during the quarter. Renaissance Technologies LLC owned 1.13% of Lancaster Colony worth $54,144,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Arizona State Retirement System raised its position in shares of Lancaster Colony by 1.0% during the fourth quarter. Arizona State Retirement System now owns 5,604 shares of the company’s stock worth $970,000 after purchasing an additional 55 shares during the period. Quantinno Capital Management LP raised its position in Lancaster Colony by 0.5% in the 3rd quarter. Quantinno Capital Management LP now owns 12,568 shares of the company’s stock valued at $2,219,000 after buying an additional 67 shares during the last quarter. Principal Securities Inc. raised its position in Lancaster Colony by 5.6% in the 4th quarter. Principal Securities Inc. now owns 1,280 shares of the company’s stock valued at $222,000 after buying an additional 68 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in Lancaster Colony by 0.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 11,687 shares of the company’s stock valued at $2,023,000 after buying an additional 98 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Lancaster Colony by 1.9% in the 4th quarter. Louisiana State Employees Retirement System now owns 5,400 shares of the company’s stock valued at $935,000 after buying an additional 100 shares during the last quarter. 66.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lancaster Colony

In other Lancaster Colony news, CEO David Alan Ciesinski sold 17,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $191.19, for a total value of $3,250,230.00. Following the transaction, the chief executive officer now owns 54,644 shares of the company’s stock, valued at approximately $10,447,386.36. This represents a 23.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 29.50% of the company’s stock.

Lancaster Colony Stock Performance

Shares of LANC stock opened at $181.26 on Thursday. Lancaster Colony Co. has a fifty-two week low of $163.20 and a fifty-two week high of $202.63. The stock has a 50 day moving average price of $183.71 and a two-hundred day moving average price of $181.11. The company has a market capitalization of $5.00 billion, a P/E ratio of 31.86 and a beta of 0.38.

Lancaster Colony (NASDAQ:LANC) last announced its earnings results on Tuesday, February 4th. The company reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.28. The company had revenue of $509.30 million during the quarter, compared to the consensus estimate of $495.43 million. Lancaster Colony had a return on equity of 19.51% and a net margin of 8.26%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.87 earnings per share. As a group, equities analysts predict that Lancaster Colony Co. will post 6.8 earnings per share for the current year.

Lancaster Colony Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were paid a $0.95 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.10%. Lancaster Colony’s dividend payout ratio is currently 66.78%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LANC shares. StockNews.com raised Lancaster Colony from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. DA Davidson boosted their price objective on Lancaster Colony from $192.00 to $207.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Stephens lifted their target price on Lancaster Colony from $196.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Lancaster Colony currently has a consensus rating of “Hold” and an average target price of $211.33.

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.