Creative Financial Designs Inc. ADV Has $672,000 Position in Lancaster Colony Co. (NASDAQ:LANC)

Creative Financial Designs Inc. ADV raised its position in shares of Lancaster Colony Co. (NASDAQ:LANC) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,805 shares of the company’s stock after purchasing an additional 67 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Lancaster Colony were worth $672,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LANC. Opal Wealth Advisors LLC purchased a new position in shares of Lancaster Colony during the 2nd quarter valued at $28,000. V Square Quantitative Management LLC purchased a new position in shares of Lancaster Colony during the 3rd quarter valued at $27,000. GAMMA Investing LLC grew its holdings in shares of Lancaster Colony by 115.9% during the 2nd quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock valued at $33,000 after acquiring an additional 95 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Lancaster Colony during the 2nd quarter valued at $38,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Lancaster Colony during the 2nd quarter valued at $74,000. 66.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Benchmark restated a “hold” rating on shares of Lancaster Colony in a report on Friday. Stephens lowered their price target on shares of Lancaster Colony from $200.00 to $196.00 and set an “equal weight” rating on the stock in a report on Friday. Loop Capital decreased their price objective on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a report on Friday. Finally, StockNews.com cut shares of Lancaster Colony from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $193.50.

Lancaster Colony Trading Up 4.0 %

Shares of NASDAQ:LANC opened at $180.47 on Friday. Lancaster Colony Co. has a 1 year low of $161.54 and a 1 year high of $215.31. The firm has a fifty day moving average price of $177.14 and a 200 day moving average price of $184.67. The stock has a market capitalization of $4.98 billion, a PE ratio of 31.22 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.08). Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The firm had revenue of $466.56 million for the quarter, compared to the consensus estimate of $468.36 million. During the same quarter last year, the company earned $1.70 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts forecast that Lancaster Colony Co. will post 6.99 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Monday, September 9th. Lancaster Colony’s dividend payout ratio (DPR) is 62.28%.

Insider Buying and Selling at Lancaster Colony

In other news, Director Elliot K. Fullen purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was bought at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the completion of the acquisition, the director now directly owns 5,298 shares of the company’s stock, valued at approximately $895,362. The trade was a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 29.50% of the company’s stock.

About Lancaster Colony

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.