Snyder’s-Lance, Inc. (LNCE) Receives Average Rating of “Hold” from Analysts
Snyder’s-Lance, Inc. (NASDAQ:LNCE) has earned a consensus rating of “Hold” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $39.80.
A number of brokerages have weighed in on LNCE. BMO Capital Markets reaffirmed an “outperform” rating and set a $43.00 target price (up from $38.00) on shares of Snyder’s-Lance in a research report on Wednesday, August 9th. TheStreet raised Snyder’s-Lance from a “c+” rating to a “b” rating in a research report on Tuesday, August 8th. UBS AG reaffirmed a “neutral” rating and set a $39.00 target price (up from $35.00) on shares of Snyder’s-Lance in a research report on Thursday, August 10th. Zacks Investment Research raised Snyder’s-Lance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, BidaskClub lowered Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th.
Shares of Snyder’s-Lance (LNCE) traded down 0.03% during mid-day trading on Tuesday, hitting $35.95. 351,609 shares of the stock traded hands. The firm’s 50-day moving average is $35.88 and its 200-day moving average is $37.12. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 97.69 and a beta of 0.71. Snyder’s-Lance has a 52 week low of $31.03 and a 52 week high of $40.85.
Snyder’s-Lance (NASDAQ:LNCE) last issued its earnings results on Tuesday, August 8th. The company reported $0.27 earnings per share for the quarter, beating 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 return on equity of 5.34% and a net margin of 1.60%. Snyder’s-Lance’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS. On average, analysts forecast that Snyder’s-Lance will post $1.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Tuesday, August 22nd will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.78%. Snyder’s-Lance’s dividend payout ratio is presently 177.78%.
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In related news, Director Patricia A. Warehime purchased 21,263 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were acquired at an average cost of $37.25 per share, for a total transaction of $792,046.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Patricia A. Warehime purchased 18,839 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was bought at an average price of $37.24 per share, for a total transaction of $701,564.36. The disclosure for this purchase can be found here. Company insiders own 13.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in LNCE. FNY Partners Fund LP bought a new position in shares of Snyder’s-Lance during the second quarter worth about $103,000. PNC Financial Services Group Inc. increased its position in shares of Snyder’s-Lance by 17.9% in the second quarter. PNC Financial Services Group Inc. now owns 3,060 shares of the company’s stock worth $107,000 after buying an additional 465 shares in the last quarter. Meadow Creek Investment Management LLC increased its position in shares of Snyder’s-Lance by 21.6% in the first quarter. Meadow Creek Investment Management LLC now owns 3,424 shares of the company’s stock worth $138,000 after buying an additional 608 shares in the last quarter. Creative Planning increased its position in shares of Snyder’s-Lance by 68.7% in the second quarter. Creative Planning now owns 4,083 shares of the company’s stock worth $141,000 after buying an additional 1,663 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of Snyder’s-Lance by 5.3% in the second quarter. Public Employees Retirement System of Ohio now owns 4,272 shares of the company’s stock worth $148,000 after buying an additional 214 shares in the last quarter. Institutional investors and hedge funds own 66.21% 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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