Point72 DIFC Ltd Invests $331,000 in Lancaster Colony Co. (NASDAQ:LANC)

Point72 DIFC Ltd acquired a new stake in Lancaster Colony Co. (NASDAQ:LANC) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,873 shares of the company’s stock, valued at approximately $331,000.

Other hedge funds also recently modified their holdings of the company. Point72 Asset Management L.P. grew its holdings in shares of Lancaster Colony by 37.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 10,800 shares of the company’s stock worth $1,907,000 after purchasing an additional 2,942 shares during the period. Holocene Advisors LP boosted its stake in shares of Lancaster Colony by 170.0% during the 3rd quarter. Holocene Advisors LP now owns 19,376 shares of the company’s stock valued at $3,421,000 after buying an additional 12,199 shares during the last quarter. Centiva Capital LP acquired a new position in Lancaster Colony during the 3rd quarter worth $438,000. Benjamin Edwards Inc. increased its holdings in Lancaster Colony by 958.7% in the third quarter. Benjamin Edwards Inc. now owns 17,447 shares of the company’s stock valued at $3,081,000 after buying an additional 15,799 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Lancaster Colony by 883.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,874 shares of the company’s stock valued at $684,000 after acquiring an additional 3,480 shares during the last quarter. 66.44% of the stock is owned by institutional investors and hedge funds.

Lancaster Colony Stock Down 2.4 %

Shares of Lancaster Colony stock opened at $179.73 on Friday. Lancaster Colony Co. has a 12-month low of $161.54 and a 12-month high of $215.31. The stock has a market capitalization of $4.96 billion, a P/E ratio of 31.10 and a beta of 0.35. The stock has a 50 day moving average price of $182.62 and a two-hundred day moving average price of $184.04.

Lancaster Colony (NASDAQ:LANC) last announced its earnings results on Thursday, October 31st. The company reported $1.62 EPS 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 the consensus estimate of $468.36 million. During the same quarter last year, the business earned $1.70 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. Sell-side analysts anticipate that Lancaster Colony Co. will post 6.72 earnings per share for the current year.

Lancaster Colony Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, December 5th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, December 5th. This is a positive change from Lancaster Colony’s previous quarterly dividend of $0.90. Lancaster Colony’s dividend payout ratio is 62.28%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th. Stephens restated an “equal weight” rating and issued a $196.00 target price on shares of Lancaster Colony in a report on Tuesday, November 19th. StockNews.com downgraded shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Loop Capital reduced their price target on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $202.67.

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.