Lancaster Colony (NASDAQ:LANC) issued its quarterly earnings data on Tuesday. The company reported $1.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.29 by ($0.20), Morningstar.com reports. Lancaster Colony had a net margin of 11.51% and a return on equity of 19.88%. The business had revenue of $323.67 million during the quarter, compared to the consensus estimate of $331.56 million. During the same quarter in the previous year, the firm posted $1.18 EPS. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year.
Shares of LANC opened at $144.33 on Friday. The stock has a fifty day moving average price of $151.77 and a two-hundred day moving average price of $151.75. Lancaster Colony has a 52-week low of $138.90 and a 52-week high of $194.38. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 27.54 and a beta of 0.28.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.60 annualized dividend and a yield of 1.80%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Maverick Capital Ltd. acquired a new position in Lancaster Colony in the second quarter valued at about $2,223,000. California Public Employees Retirement System grew its stake in Lancaster Colony by 2.0% in the second quarter. California Public Employees Retirement System now owns 42,373 shares of the company’s stock valued at $6,297,000 after acquiring an additional 840 shares during the period. Nuveen Asset Management LLC acquired a new position in Lancaster Colony in the second quarter valued at about $26,490,000. UBS Asset Management Americas Inc. grew its stake in Lancaster Colony by 11.7% in the second quarter. UBS Asset Management Americas Inc. now owns 17,180 shares of the company’s stock valued at $2,553,000 after acquiring an additional 1,796 shares during the period. Finally, Jane Street Group LLC acquired a new position in Lancaster Colony in the second quarter valued at about $243,000. Hedge funds and other institutional investors own 54.59% of the company’s stock.
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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