UBS AG Reaffirms Neutral Rating for Snyder’s-Lance, Inc. (LNCE)
UBS AG reaffirmed their neutral rating on shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) in a research note published on Thursday morning, www.flashratings.com reports. The firm currently has a $39.00 price objective on the stock, up from their prior price objective of $35.00.
Several other equities analysts have also issued reports on LNCE. SunTrust Banks, Inc. lowered Snyder’s-Lance from a buy rating to a hold rating and cut their target price for the company from $45.00 to $30.00 in a research note on Monday, April 17th. Zacks Investment Research upgraded Snyder’s-Lance from a sell rating to a hold rating in a research note on Wednesday, April 19th. Jefferies Group LLC reiterated a buy rating and issued a $44.00 target price on shares of Snyder’s-Lance in a research note on Wednesday, April 26th. BMO Capital Markets restated a buy rating and set a $38.00 price target on shares of Snyder’s-Lance in a research note on Tuesday, June 13th. Finally, BidaskClub lowered Snyder’s-Lance from a strong-buy rating to a buy rating in a research note on Saturday, June 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $39.80.
Shares of Snyder’s-Lance (NASDAQ:LNCE) traded up 1.01% on Thursday, reaching $37.10. 499,172 shares of the company’s stock traded hands. The firm has a market cap of $3.59 billion, a P/E ratio of 57.08 and a beta of 0.71. Snyder’s-Lance has a 12-month low of $31.03 and a 12-month high of $40.85. The stock has a 50-day moving average of $35.32 and a 200 day moving average of $37.20.
Snyder’s-Lance (NASDAQ:LNCE) last posted its earnings results on Tuesday, August 8th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. Snyder’s-Lance had a return on equity of 5.34% and a net margin of 1.60%. The company had revenue of $579.60 million for the quarter, compared to analyst estimates of $565.66 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts expect that Snyder’s-Lance will post $1.13 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Investors 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 1.73%. Snyder’s-Lance’s dividend payout ratio is currently 177.78%.
In other news, Director Peter P. Brubaker bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were purchased at an average price of $37.10 per share, for a total transaction of $37,100.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.70% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in LNCE. BlackRock Inc. increased its position in shares of Snyder’s-Lance by 1.7% in the second quarter. BlackRock Inc. now owns 8,665,893 shares of the company’s stock worth $300,013,000 after buying an additional 145,840 shares during the last quarter. Vanguard Group Inc. increased its position in shares of 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 last quarter. Champlain Investment Partners LLC increased its position in shares of 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 last quarter. State Street Corp increased its position in shares of Snyder’s-Lance by 3.2% in the first quarter. State Street Corp now owns 2,654,929 shares of the company’s stock worth $107,016,000 after buying an additional 82,144 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position in shares of 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 worth $84,105,000 after buying an additional 16,200 shares during the last quarter. 63.88% of the stock is owned by institutional investors.
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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