Lancaster Colony Corp. (LANC) : Yacktman Asset Management Lp reduced its stake in Lancaster Colony Corp. by 22.59% during the most recent quarter end. The investment management company now holds a total of 305,400 shares of Lancaster Colony Corp. which is valued at $38,941,554 after selling 89,100 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 0.32% of Yacktman Asset Management Lp’s portfolio.
Other Hedge Funds, Including , Denali Advisors sold out all of its stake in LANC during the most recent quarter. The investment firm sold 22,700 shares of LANC which is valued $2,886,759.Forte Capital Adv reduced its stake in LANC by selling 500 shares or 20.0% in the most recent quarter. The Hedge Fund company now holds 2,000 shares of LANC which is valued at $255,660. Lancaster Colony Corp. makes up approx 0.10% of Forte Capital Adv’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.