Snyder’s-Lance Inc. (LNCE) To Go Ex-Dividend on November 17th
Snyder’s-Lance Inc. (NASDAQ:LNCE) declared a quarterly dividend on Thursday, November 3rd. Shareholders of record on Monday, November 21st will be given a dividend of 0.16 per share on Tuesday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, November 17th.
Snyder’s-Lance (NASDAQ:LNCE) opened at 37.50 on Wednesday. Snyder’s-Lance has a 52-week low of $27.93 and a 52-week high of $39.10. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 105.04 and a beta of 0.61. The firm’s 50 day moving average price is $35.23 and its 200 day moving average price is $33.92.
Snyder’s-Lance (NASDAQ:LNCE) last announced its earnings results on Monday, November 7th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.30 by $0.05. Snyder’s-Lance had a return on equity of 6.11% and a net margin of 1.48%. The company had revenue of $588.80 million for the quarter, compared to analyst estimates of $611.98 million. During the same quarter in the prior year, the company earned $0.26 EPS. The firm’s revenue for the quarter was up 41.3% compared to the same quarter last year. Equities research analysts anticipate that Snyder’s-Lance will post $1.28 EPS for the current fiscal year.
In other news, Director John E. Denton sold 6,932 shares of the firm’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 value of $235,341.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 18.60% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. American International Group Inc. raised its position in Snyder’s-Lance by 3.3% in the second quarter. American International Group Inc. now owns 197,807 shares of the company’s stock worth $6,704,000 after buying an additional 6,285 shares in the last quarter. Sei Investments Co. raised its position in Snyder’s-Lance by 57.2% in the second quarter. Sei Investments Co. now owns 54,275 shares of the company’s stock worth $1,840,000 after buying an additional 19,749 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Snyder’s-Lance by 120.0% in the second quarter. Janney Montgomery Scott LLC now owns 22,704 shares of the company’s stock worth $770,000 after buying an additional 12,383 shares in the last quarter. Comerica Bank raised its position in Snyder’s-Lance by 3.1% in the second quarter. Comerica Bank now owns 55,011 shares of the company’s stock worth $2,000,000 after buying an additional 1,632 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Snyder’s-Lance by 21.2% in the second quarter. Alliancebernstein L.P. now owns 125,673 shares of the company’s stock worth $4,259,000 after buying an additional 21,950 shares in the last quarter. Institutional investors own 63.05% of the company’s stock.
Several equities research analysts recently commented on the company. BMO Capital Markets restated a “buy” rating on shares of Snyder’s-Lance in a research report on Tuesday, November 8th. DA Davidson upped their target price on Snyder’s-Lance from $38.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Finally, Deutsche Bank AG restated a “hold” rating and set a $35.00 target price on shares of Snyder’s-Lance in a research report on Wednesday, November 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $33.85.
Snyder’s-Lance Company Profile
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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