Snyder’s-Lance, Inc. (LNCE) Shares Sold by Russell Investments Group Ltd.
Russell Investments Group Ltd. lowered its position in Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 60.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,549 shares of the company’s stock after selling 183,253 shares during the period. Russell Investments Group Ltd. owned about 0.12% of Snyder’s-Lance worth $4,105,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of LNCE. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. State Street Corp increased its stake 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 worth $107,016,000 after buying an additional 82,144 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Snyder’s-Lance by 27.9% in the first quarter. Victory Capital Management Inc. now owns 2,019,351 shares of the company’s stock worth $81,400,000 after buying an additional 440,685 shares in the last quarter. 60.83% of the stock is owned by institutional investors.
Shares of Snyder’s-Lance, Inc. (NASDAQ LNCE) traded down 1.46% during trading on Friday, reaching $35.86. 681,666 shares of the company were exchanged. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 97.45 and a beta of 0.71. Snyder’s-Lance, Inc. has a 1-year low of $31.03 and a 1-year high of $40.85. The stock’s 50 day moving average is $35.88 and its 200 day moving average is $37.12.
Snyder’s-Lance (NASDAQ:LNCE) last released its earnings results on Tuesday, August 8th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The business had revenue of $579.60 million during 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 company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Equities analysts anticipate that Snyder’s-Lance, Inc. will post $1.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Tuesday, August 22nd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.64 annualized dividend and a dividend yield of 1.78%. Snyder’s-Lance’s payout ratio is 177.78%.
LNCE has been the subject of a number of research analyst reports. TheStreet raised shares of Snyder’s-Lance from a “c+” rating to a “b” rating in a report on Tuesday, August 8th. Zacks Investment Research downgraded shares of Snyder’s-Lance from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. UBS AG reaffirmed a “neutral” rating and set a $39.00 price objective (up from $35.00) on shares of Snyder’s-Lance in a report on Thursday, August 10th. Jefferies Group LLC set a $44.00 target price on shares of Snyder’s-Lance and gave the stock a “buy” rating in a research report on Saturday, July 29th. Finally, BidaskClub cut shares of Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $39.80.
In other news, Director Isaiah Tidwell sold 1,500 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $37.35, for a total transaction of $56,025.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Patricia A. Warehime purchased 18,839 shares of the stock in a transaction dated Tuesday, August 15th. The shares were purchased at an average cost of $37.24 per share, for a total transaction of $701,564.36. The disclosure for this purchase can be found here. Insiders own 13.70% 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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