Tributary Capital Management LLC Has $770,000 Position in Lancaster Colony Co. (NASDAQ:LANC)

Tributary Capital Management LLC raised its holdings in Lancaster Colony Co. (NASDAQ:LANC) by 46.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,446 shares of the company’s stock after buying an additional 1,412 shares during the quarter. Tributary Capital Management LLC’s holdings in Lancaster Colony were worth $770,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Anthracite Investment Company Inc. purchased a new stake in shares of Lancaster Colony in the third quarter worth approximately $1,204,000. Empowered Funds LLC purchased a new position in Lancaster Colony during the 3rd quarter worth $2,244,000. Van ECK Associates Corp grew its stake in shares of Lancaster Colony by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 12,897 shares of the company’s stock worth $2,271,000 after acquiring an additional 3,686 shares in the last quarter. William B. Walkup & Associates Inc. purchased a new stake in shares of Lancaster Colony in the second quarter valued at about $685,000. Finally, Atria Investments Inc lifted its position in shares of Lancaster Colony by 2.5% during the third quarter. Atria Investments Inc now owns 4,060 shares of the company’s stock valued at $717,000 after purchasing an additional 98 shares in the last quarter. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LANC shares. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research note on Tuesday, November 19th. Loop Capital dropped their price target on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Stephens restated an “equal weight” rating and issued a $196.00 price objective on shares of Lancaster Colony in a research note on Tuesday, November 19th.

Lancaster Colony Trading Down 1.4 %

NASDAQ:LANC opened at $172.00 on Friday. The firm’s 50 day moving average is $179.20 and its 200 day moving average is $181.63. Lancaster Colony Co. has a 12 month low of $163.20 and a 12 month high of $215.31. The stock has a market capitalization of $4.74 billion, a PE ratio of 29.76 and a beta of 0.36.

Lancaster Colony (NASDAQ:LANC) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.62 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 analysts’ expectations of $468.36 million. During the same period in the prior year, the company earned $1.70 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. Research analysts predict 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 was paid on Tuesday, December 31st. Stockholders of record on Thursday, December 5th were paid a $0.95 dividend. This is an increase from Lancaster Colony’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, December 5th. This represents a $3.80 annualized dividend and a dividend yield of 2.21%. Lancaster Colony’s dividend payout ratio (DPR) is presently 65.74%.

Lancaster Colony Company 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.