BMO Capital Markets Reiterates “Buy” Rating for Snyder’s-Lance Inc. (LNCE)
Snyder’s-Lance Inc. (NASDAQ:LNCE)‘s stock had its “buy” rating reiterated by BMO Capital Markets in a research note issued to investors on Tuesday.
A number of other brokerages have also issued reports on LNCE. Deutsche Bank AG reissued a “hold” rating and issued a $35.00 price target on shares of Snyder’s-Lance in a research note on Wednesday, November 2nd. DA Davidson lifted their price objective on Snyder’s-Lance from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $33.85.
Snyder’s-Lance (NASDAQ:LNCE) opened at 37.31 on Tuesday. Snyder’s-Lance has a 52 week low of $27.93 and a 52 week high of $39.10. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 178.52 and a beta of 0.61. The firm has a 50-day moving average of $34.88 and a 200 day moving average of $33.75.
Snyder’s-Lance (NASDAQ:LNCE) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. Snyder’s-Lance had a return on equity of 6.36% and a net margin of 1.48%. The firm had revenue of $588.80 million for the quarter, compared to analyst estimates of $611.98 million. During the same period last year, the company earned $0.26 EPS. The firm’s quarterly revenue was up 41.3% on a year-over-year basis. On average, analysts anticipate that Snyder’s-Lance will post $1.28 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 29th. Investors of record on Monday, November 21st will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.72%. The ex-dividend date is Thursday, November 17th. Snyder’s-Lance’s dividend payout ratio (DPR) is presently 228.57%.
In related news, Director John E. Denton sold 6,932 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $33.95, for a total transaction of $235,341.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 18.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Bruderman Asset Management LLC raised its position in Snyder’s-Lance by 0.3% in the third quarter. Bruderman Asset Management LLC now owns 3,109 shares of the company’s stock valued at $104,000 after buying an additional 9 shares during the period. Advisor Group Inc. bought a new position in Snyder’s-Lance during the second quarter valued at approximately $111,000. Public Employees Retirement System of Ohio raised its position in Snyder’s-Lance by 10.8% in the second quarter. Public Employees Retirement System of Ohio now owns 3,435 shares of the company’s stock valued at $116,000 after buying an additional 334 shares during the period. LS Investment Advisors LLC raised its position in Snyder’s-Lance by 76.4% in the second quarter. LS Investment Advisors LLC now owns 4,818 shares of the company’s stock valued at $163,000 after buying an additional 2,087 shares during the period. Finally, Bank of Montreal Can bought a new position in Snyder’s-Lance during the second quarter valued at approximately $188,000. 59.56% of the stock is currently owned by hedge funds and other institutional investors.
Snyder’s-Lance, Inc is a snack food company. The Company operates in the manufacturing, distribution, marketing and sale of snack food products segment. The Company’s products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, nuts, restaurant style crackers and other salty snacks.
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