Here’s How Lancaster Colony Corporation (LANC) Offset Inflation

Diamond Hill Capital, an investment management company, released its “Mid Cap Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy returned 10.42% net in the fourth quarter compared to a 9.18% return for the Russell Midcap Index, and in 2022, it returned -13.12% compared to a -17.32% return for the benchmark. The strategy outperformed the Russell Midcap Index in the fourth quarter and the calendar year. Holdings in information technology, consumer staples, and materials outperformed and contributed to the strategy’s relative performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Diamond Hill Mid Cap Strategy highlighted stocks like Lancaster Colony Corporation (NASDAQ:LANC) in its Q4 2022 investor letter. Based in Westerville, Ohio, Lancaster Colony Corporation (NASDAQ:LANC) is a food products manufacturing company that operates through Retail and Foodservice segments. On February 15, 2023, Lancaster Colony Corporation (NASDAQ:LANC) stock closed at $193.39 per share. One-month return of Lancaster Colony Corporation (NASDAQ:LANC) was 0.72%, and its shares gained 21.80% of their value over the last 52 weeks. Lancaster Colony Corporation (NASDAQ:LANC) has a market capitalization of $5.332 billion.

Diamond Hill Mid Cap Strategy made the following comment about Lancaster Colony Corporation (NASDAQ:LANC) in its Q4 2022 investor letter:

“Other top contributors included AIG, Freeport-McMoRan and Lancaster Colony Corporation (NASDAQ:LANC). Diversified foods manufacturer and retailer Lancaster Colony Corporation has done a fairly effective job of offsetting inflation with a combination of price increases and cost-cutting measures, contributing to higher profits and improved margins.”

Lancaster Colony Corporation (NASDAQ:LANC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held Lancaster Colony Corporation (NASDAQ:LANC) at the end of the third quarter, which was 17 in the previous quarter.

We discussed Lancaster Colony Corporation (NASDAQ:LANC) in another article and shared Diamond Hill Capital’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.