Northwestern Mutual Investment Management Company LLC cut its holdings in Lancaster Colony Corporation (NASDAQ:LANC) by 0.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,353 shares of the company’s stock after selling 3 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Lancaster Colony Corporation were worth $428,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Swiss National Bank grew its stake in shares of Lancaster Colony Corporation by 2.2% in the second quarter. Swiss National Bank now owns 32,226 shares of the company’s stock valued at $3,952,000 after acquiring an additional 700 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Lancaster Colony Corporation by 2.2% in the second quarter. Principal Financial Group Inc. now owns 82,262 shares of the company’s stock valued at $10,087,000 after acquiring an additional 1,791 shares in the last quarter. Neuberger Berman Group LLC grew its stake in shares of Lancaster Colony Corporation by 5.1% in the second quarter. Neuberger Berman Group LLC now owns 730,573 shares of the company’s stock valued at $89,583,000 after acquiring an additional 35,303 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Lancaster Colony Corporation by 12.1% in the second quarter. Pacer Advisors Inc. now owns 2,558 shares of the company’s stock valued at $314,000 after acquiring an additional 276 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Lancaster Colony Corporation by 16.8% in the second quarter. Prudential Financial Inc. now owns 130,818 shares of the company’s stock valued at $16,041,000 after acquiring an additional 18,810 shares in the last quarter. Institutional investors and hedge funds own 49.80% of the company’s stock.

Shares of Lancaster Colony Corporation (NASDAQ LANC) opened at 117.89 on Friday. The firm has a market capitalization of $3.24 billion, a P/E ratio of 28.07 and a beta of 1.02. The firm’s 50-day moving average is $119.53 and its 200-day moving average is $124.60. Lancaster Colony Corporation has a 52 week low of $113.34 and a 52 week high of $149.30.

Lancaster Colony Corporation (NASDAQ:LANC) last announced its quarterly earnings results on Thursday, August 17th. The company reported $1.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.08). Lancaster Colony Corporation had a net margin of 9.59% and a return on equity of 22.76%. The company had revenue of $289.90 million for the quarter, compared to the consensus estimate of $295.05 million. During the same quarter in the prior year, the company earned $1.12 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts anticipate that Lancaster Colony Corporation will post $4.74 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, September 7th. Lancaster Colony Corporation’s dividend payout ratio is presently 52.26%.

Several equities analysts recently commented on the stock. BidaskClub upgraded shares of Lancaster Colony Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. Vertical Research upgraded shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating in a research note on Friday, May 26th. Zacks Investment Research upgraded shares of Lancaster Colony Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Vertical Group upgraded shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating and upped their price target for the company from $123.00 to $146.00 in a research note on Tuesday, May 30th. Finally, Wedbush restated a “buy” rating on shares of Lancaster Colony Corporation in a research note on Friday, August 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $152.00.

WARNING: “Northwestern Mutual Investment Management Company LLC Decreases Position in Lancaster Colony Corporation (LANC)” was originally published by Daily Political and is the property of of Daily Political. If you are reading this report on another website, it was stolen and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be accessed at https://www.dailypolitical.com/2017/09/16/northwestern-mutual-investment-management-company-llc-decreases-position-in-lancaster-colony-corporation-lanc.html.

Lancaster Colony Corporation Company Profile

Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar.

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

Receive News & Ratings for Lancaster Colony Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lancaster Colony Corporation and related companies with MarketBeat.com's FREE daily email newsletter.