A number of other analysts have also issued reports on the stock. Jefferies Group LLC reiterated a buy rating and set a $44.00 price objective on shares of Snyder’s-Lance in a research note on Wednesday, April 26th. BidaskClub lowered shares of Snyder’s-Lance from a strong-buy rating to a buy rating in a research note on Saturday, June 17th. UBS AG restated a neutral rating and issued a $35.00 price target (down previously from $37.00) on shares of Snyder’s-Lance in a research note on Tuesday, July 18th. Zacks Investment Research lowered shares of Snyder’s-Lance from a hold rating to a sell rating in a research note on Tuesday, July 11th. Finally, SunTrust Banks, Inc. lowered shares of Snyder’s-Lance from a buy rating to a hold rating and dropped their price target for the stock from $45.00 to $30.00 in a research note on Monday, April 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $39.80.
Snyder’s-Lance (NASDAQ LNCE) opened at 37.10 on Tuesday. Snyder’s-Lance has a 12-month low of $31.03 and a 12-month high of $40.85. The firm’s 50-day moving average is $35.32 and its 200 day moving average is $37.20. The firm has a market cap of $3.59 billion, a PE ratio of 100.82 and a beta of 0.71.
Snyder’s-Lance (NASDAQ:LNCE) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $579.60 million for the quarter, compared to analyst estimates of $565.66 million. Snyder’s-Lance had a net margin of 1.60% and a return on equity of 5.34%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 earnings per share. Equities research analysts predict that Snyder’s-Lance will post $1.13 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Tuesday, August 22nd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.73%. Snyder’s-Lance’s dividend payout ratio (DPR) is presently 177.78%.
In related news, Director Peter P. Brubaker purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was acquired at an average price of $37.10 per share, for a total transaction of $37,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.70% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of LNCE. FNY Partners Fund LP bought a new stake in shares of Snyder’s-Lance during the second quarter worth about $103,000. PNC Financial Services Group Inc. raised its stake in shares of Snyder’s-Lance by 17.9% in the second quarter. PNC Financial Services Group Inc. now owns 3,060 shares of the company’s stock worth $107,000 after buying an additional 465 shares during the period. Meadow Creek Investment Management LLC raised its stake in shares of Snyder’s-Lance by 21.6% in the first quarter. Meadow Creek Investment Management LLC now owns 3,424 shares of the company’s stock worth $138,000 after buying an additional 608 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Snyder’s-Lance by 3.4% in the first quarter. Public Employees Retirement System of Ohio now owns 4,058 shares of the company’s stock worth $164,000 after buying an additional 132 shares during the period. Finally, Creative Planning raised its stake in shares of Snyder’s-Lance by 68.7% in the second quarter. Creative Planning now owns 4,083 shares of the company’s stock worth $141,000 after buying an additional 1,663 shares during the period. Institutional investors and hedge funds own 63.88% of the company’s stock.
Snyder’s-Lance Company Profile
Snyder’s-Lance, Inc is a snack food company. The Company is engaged in the manufacturing, distribution, marketing and sale of snack food products. Its products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, restaurant style crackers, popcorn, nuts and other salty snacks.
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