Channing Capital Management Lowers stake in Lancaster Colony Corp. (LANC)

Lancaster Colony Corp. (LANC) : Channing Capital Management reduced its stake in Lancaster Colony Corp. by 63.38% during the most recent quarter end. The investment management company now holds a total of 128,693 shares of Lancaster Colony Corp. which is valued at $16,409,644 after selling 222,720 shares in Lancaster Colony Corp. , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Lancaster Colony Corp. makes up approximately 0.66% of Channing Capital Management’s portfolio.

Other Hedge Funds, Including , Chicago Equity Partners added LANC to its portfolio by purchasing 7,100 company shares during the most recent quarter which is valued at $922,716. Lancaster Colony Corp. makes up approx 0.03% of Chicago Equity Partners’s portfolio.Nisa Investment Advisors reduced its stake in LANC by selling 200 shares or 8.0% in the most recent quarter. The Hedge Fund company now holds 2,300 shares of LANC which is valued at $292,491.Independent Portfolio Consultants boosted its stake in LANC in the latest quarter, The investment management firm added 1,980 additional shares and now holds a total of 5,550 shares of Lancaster Colony Corp. which is valued at $705,794. Lancaster Colony Corp. makes up approx 0.22% of Independent Portfolio Consultants’s portfolio.

Lancaster Colony Corp. opened for trading at $127.66 and hit $128.17 on the upside on Thursday, eventually ending the session at $127.88, with a gain of 0.29% or 0.37 points. The heightened volatility saw the trading volume jump to 79,682 shares. Company has a market cap of $3,505 M.

On the company’s financial health, Lancaster Colony Corp. reported $1.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.24 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.82. The company had revenue of $287.80 million for the quarter, compared to analysts expectations of $279.17 million. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS.

Many Wall Street Analysts have commented on Lancaster Colony Corp.. Lancaster Colony Corp. was Downgraded by BB&T Capital Mkts to ” Hold” on May 9, 2016.

Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice markets. The Company is focused on its specialty foods segment. It manufactures and sells a range of food products including salad dressings and sauces; fruit glazes vegetable dips and fruit dips; Greek yogurt vegetable dips and hummus; frozen garlic breads; frozen Parkerhouse style yeast dinner rolls and sweet rolls as well as biscuits; dry egg noodles; croutons and related products; snack sticks and flatbread wraps and pizza crusts. The Company offers its products under Marzetti Cardini’s Simply Dressed Katherine’s Kitchen Girard’s Otria New York BRAND Mamma Bella and Mamma Bella’s Sister Schubert’s Marshall’s and Mary B’s Sister Schubert’s Marshall’s Mary B’s Reames Aunt Vi’s Texas Toast Chatham Village Flatout and Romanoff names.

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