BidaskClub Lowers Snyder’s-Lance, Inc. (NASDAQ:LNCE) to Hold
BidaskClub lowered shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) from a buy rating to a hold rating in a report issued on Tuesday.
LNCE has been the topic of several other research reports. Jefferies Group LLC set a $44.00 price target on Snyder’s-Lance and gave the company a buy rating in a research report on Saturday, July 29th. Zacks Investment Research upgraded Snyder’s-Lance from a sell rating to a hold rating in a research report on Wednesday, April 19th. UBS AG reiterated a neutral rating and set a $35.00 target price (down previously from $37.00) on shares of Snyder’s-Lance in a research report on Tuesday, July 18th. BMO Capital Markets reiterated a buy rating and set a $38.00 target price on shares of Snyder’s-Lance in a research report on Tuesday, June 13th. Finally, SunTrust Banks, Inc. cut Snyder’s-Lance from a buy rating to a hold rating and dropped their target price for the stock from $45.00 to $30.00 in a research report on Monday, April 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $38.67.
Snyder’s-Lance (LNCE) opened at 34.66 on Tuesday. The firm’s 50-day moving average price is $35.33 and its 200-day moving average price is $37.30. Snyder’s-Lance has a 12 month low of $31.03 and a 12 month high of $40.85. The stock 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 quarterly earnings results on Monday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The company had revenue of $531.50 million during the quarter, compared to analyst estimates of $529.53 million. Snyder’s-Lance had a net margin of 2.25% and a return on equity of 5.36%. The business’s revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 EPS. On average, analysts predict that Snyder’s-Lance will post $1.10 earnings per share for the current year.
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The firm 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 dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.85%. The ex-dividend date is Friday, August 18th. Snyder’s-Lance’s payout ratio is 123.08%.
In other Snyder’s-Lance news, Director Peter P. Brubaker bought 1,000 shares of the company’s stock in a transaction on Friday, May 26th. The shares were bought at an average price of $37.10 per share, for a total transaction of $37,100.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 13.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in LNCE. Meadow Creek Investment Management LLC boosted its position in 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 valued at $138,000 after buying an additional 608 shares during the last quarter. Creative Planning raised its stake 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 valued at $141,000 after buying an additional 1,663 shares during the period. US Bancorp DE raised its stake in shares of Snyder’s-Lance by 12.7% in the second quarter. US Bancorp DE now owns 4,553 shares of the company’s stock valued at $158,000 after buying an additional 513 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Snyder’s-Lance by 3.4% in the first quarter. Public Employees Retirement System of Ohio now owns 4,058 shares of the company’s stock valued at $164,000 after buying an additional 132 shares during the period. Finally, Neuburgh Advisers LLC raised its stake in shares of Snyder’s-Lance by 21.6% in the first quarter. Neuburgh Advisers LLC now owns 4,708 shares of the company’s stock valued at $190,000 after buying an additional 836 shares during the period. Institutional investors own 64.42% of the company’s stock.
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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