Shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) have earned an average recommendation of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $38.67.

A number of brokerages have issued reports on LNCE. SunTrust Banks, Inc. cut Snyder’s-Lance from a “buy” rating to a “hold” rating and cut their price objective for the company from $45.00 to $30.00 in a report on Monday, April 17th. BMO Capital Markets reissued a “buy” rating and set a $38.00 price objective on shares of Snyder’s-Lance in a report on Tuesday, June 13th. Zacks Investment Research raised Snyder’s-Lance from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 20th. BidaskClub cut Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. Finally, Jefferies Group LLC set a $44.00 price objective on Snyder’s-Lance and gave the company a “buy” rating in a report on Saturday, July 29th.

In related news, Director Peter P. Brubaker acquired 1,000 shares of the business’s stock in a transaction on Friday, May 26th. The stock was bought at an average cost of $37.10 per share, with a total value of $37,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 13.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of LNCE. BB&T Securities LLC boosted its position in shares of Snyder’s-Lance by 3.2% in the second quarter. BB&T Securities LLC now owns 8,318 shares of the company’s stock worth $287,000 after buying an additional 256 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Snyder’s-Lance by 125.6% in the second quarter. BNP Paribas Arbitrage SA now owns 43,223 shares of the company’s stock worth $1,496,000 after buying an additional 24,064 shares in the last quarter. 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 worth $84,105,000 after buying an additional 16,200 shares in the last quarter. Legal & General Group Plc boosted its position in Snyder’s-Lance by 31.6% in the second quarter. Legal & General Group Plc now owns 69,351 shares of the company’s stock worth $2,402,000 after buying an additional 16,669 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Snyder’s-Lance by 68.0% in the second quarter. SG Americas Securities LLC now owns 30,908 shares of the company’s stock worth $1,070,000 after buying an additional 12,514 shares in the last quarter. 64.42% of the stock is owned by institutional investors.

Snyder’s-Lance (NASDAQ:LNCE) traded up 0.23% during trading on Friday, hitting $34.66. 453,659 shares of the stock traded hands. The stock has a market cap of $3.35 billion, a PE ratio of 65.89 and a beta of 0.71. The company has a 50-day moving average price of $35.33 and a 200 day moving average price of $37.30. Snyder’s-Lance has a one year low of $31.03 and a one year high of $40.85.

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 consensus estimate of $0.14 by $0.01. The firm had revenue of $531.50 million during the quarter, compared to the consensus estimate of $529.53 million. Snyder’s-Lance had a return on equity of 5.36% and a net margin of 2.25%. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period last year, the business earned $0.25 earnings per share. Analysts expect that Snyder’s-Lance will post $1.10 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Tuesday, August 22nd will be issued a dividend of $0.16 per share. 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 1.85%. Snyder’s-Lance’s payout ratio is presently 123.08%.

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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.

Analyst Recommendations for Snyder`s-Lance (NASDAQ:LNCE)

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