Zacks Investment Research lowered shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) from a hold rating to a sell rating in a report released on Tuesday, July 11th.

According to Zacks, “Synders-Lance Inc, formerly known as Lancer Inc, is engaged in the manufacture, market and distribution of a variety of branded and private label snack foods and bakery products. Products include branded sandwich crackers, sandwich cookies, restaurant crackers and bread basket items, candy, chips, meat snacks, nuts and private label cookies and crackers. Products are packaged as individual, single servings and as larger packages or multi-pack configurations and are distributed to grocery stores, convenience stores, vending machines, food service institutions, and through up and down the street outlets . “

Other equities analysts also recently issued reports about the company. SunTrust Banks, Inc. downgraded Snyder’s-Lance from a buy rating to a hold rating and reduced their price objective for the stock from $45.00 to $30.00 in a research report on Monday, April 17th. UBS AG assumed coverage on Snyder’s-Lance in a research report on Wednesday, March 22nd. They set a neutral rating and a $44.00 price objective for the company. BidaskClub downgraded Snyder’s-Lance from a strong-buy rating to a buy rating in a research report on Saturday, June 17th. BMO Capital Markets reiterated a buy rating and set a $38.00 price objective on shares of Snyder’s-Lance in a research report on Tuesday, June 13th. Finally, Jefferies Group LLC reiterated a buy rating and set a $44.00 price objective on shares of Snyder’s-Lance in a research report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $38.67.

Shares of Snyder’s-Lance (NASDAQ:LNCE) opened at 34.66 on Tuesday. Snyder’s-Lance has a one year low of $31.03 and a one year high of $40.85. The firm has a 50-day moving average price of $35.33 and a 200 day moving average price of $37.30. The firm has a market cap of $3.35 billion, a P/E ratio of 65.89 and a beta of 0.71.

Snyder’s-Lance (NASDAQ:LNCE) last issued its earnings results on Monday, May 8th. The company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.01. Snyder’s-Lance had a net margin of 2.25% and a return on equity of 5.36%. The company had revenue of $531.50 million during the quarter, compared to analyst estimates of $529.53 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The business’s revenue was up 18.7% on a year-over-year basis. On average, analysts forecast that Snyder’s-Lance will post $1.10 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Tuesday, August 22nd will be given a $0.16 dividend. The ex-dividend date is Friday, August 18th. This represents a $0.64 dividend on an annualized basis and a yield of 1.85%. Snyder’s-Lance’s dividend payout ratio (DPR) is 123.08%.

In other news, Director Peter P. Brubaker bought 1,000 shares of the business’s stock in a transaction on Friday, May 26th. The stock was purchased at an average cost of $37.10 per share, for a total transaction of $37,100.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 13.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Snyder’s-Lance by 16,621.1% in the first quarter. BlackRock Inc. now owns 8,520,053 shares of the company’s stock worth $343,444,000 after buying an additional 8,469,099 shares during the period. Vanguard Group Inc. increased its stake in Snyder’s-Lance by 5.3% in the first quarter. Vanguard Group Inc. now owns 6,597,352 shares of the company’s stock worth $265,939,000 after buying an additional 329,799 shares during the period. Champlain Investment Partners LLC increased its stake in Snyder’s-Lance by 7.1% in the first quarter. Champlain Investment Partners LLC now owns 4,195,470 shares of the company’s stock worth $169,119,000 after buying an additional 279,540 shares during the period. State Street Corp boosted its position in Snyder’s-Lance by 3.2% in the first quarter. State Street Corp now owns 2,654,929 shares of the company’s stock valued at $107,016,000 after buying an additional 82,144 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in Snyder’s-Lance by 0.7% in the second quarter. Gamco Investors INC. ET AL now owns 2,429,375 shares of the company’s stock valued at $84,105,000 after buying an additional 16,200 shares in the last quarter. Hedge funds and other institutional investors own 64.42% 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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Analyst Recommendations for Snyder`s-Lance (NASDAQ:LNCE)

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