Great Lakes Advisors LLC Decreases Position in Lancaster Colony Corp. (LANC)

Great Lakes Advisors LLC cut its holdings in shares of Lancaster Colony Corp. (NASDAQ:LANC) by 10.1% in the first quarter, HoldingsChannel.com reports. The firm owned 23,873 shares of the company’s stock after selling 2,678 shares during the period. Great Lakes Advisors LLC’s holdings in Lancaster Colony were worth $3,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in Lancaster Colony by 55.9% during the 1st quarter. JPMorgan Chase & Co. now owns 30,556 shares of the company’s stock valued at $4,788,000 after acquiring an additional 10,955 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Lancaster Colony by 2.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 7,798 shares of the company’s stock valued at $1,222,000 after acquiring an additional 173 shares in the last quarter. Mason Street Advisors LLC grew its stake in Lancaster Colony by 1.6% during the 1st quarter. Mason Street Advisors LLC now owns 10,386 shares of the company’s stock valued at $1,627,000 after acquiring an additional 163 shares in the last quarter. Independent Advisor Alliance grew its stake in Lancaster Colony by 12.7% during the 1st quarter. Independent Advisor Alliance now owns 5,866 shares of the company’s stock valued at $919,000 after acquiring an additional 661 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in Lancaster Colony by 34.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 8,191 shares of the company’s stock valued at $1,283,000 after acquiring an additional 2,120 shares in the last quarter. Institutional investors own 54.13% of the company’s stock.

Shares of NASDAQ LANC opened at $147.73 on Wednesday. Lancaster Colony Corp. has a 12-month low of $124.75 and a 12-month high of $194.38. The stock has a market cap of $4.09 billion, a P/E ratio of 28.71 and a beta of 0.27.

Lancaster Colony (NASDAQ:LANC) last posted its earnings results on Thursday, April 25th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.10). The firm had revenue of $317.80 million during the quarter, compared to analyst estimates of $325.01 million. Lancaster Colony had a net margin of 11.60% and a return on equity of 20.76%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 earnings per share.

Separately, BidaskClub cut shares of Lancaster Colony from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th.

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About Lancaster Colony

Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates through two segments, Retail and Foodservice. It offers frozen garlic breads under the New York BRAND Bakery brand; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand name; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardini's, and Girard's brands; and vegetable dips and fruit dips under the Marzetti brand.

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Institutional Ownership by Quarter for Lancaster Colony (NASDAQ:LANC)

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