State Treasurer State of Michigan increased its position in shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 2.0% during the second quarter, Holdings Channel reports. The firm owned 35,500 shares of the company’s stock after buying an additional 700 shares during the period. State Treasurer State of Michigan’s holdings in Snyder’s-Lance were worth $1,229,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of LNCE. Meadow Creek Investment Management LLC increased 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 increased its position in 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 last quarter. Public Employees Retirement System of Ohio increased its position in 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 last quarter. Neuburgh Advisers LLC increased its position in 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 last quarter. Finally, BlueCrest Capital Management Ltd acquired a new position in Snyder’s-Lance during the first quarter valued at $201,000. Institutional investors own 63.88% of the company’s stock.

Snyder’s-Lance, Inc. (NASDAQ:LNCE) traded up 0.967% on Monday, reaching $34.995. 126,873 shares of the company’s stock traded hands. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 66.530 and a beta of 0.71. The stock has a 50 day moving average price of $35.33 and a 200 day moving average price of $37.30. Snyder’s-Lance, Inc. has a 12-month low of $31.03 and a 12-month high of $40.86.

Snyder’s-Lance (NASDAQ:LNCE) last announced its quarterly earnings data on Monday, May 8th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by $0.01. Snyder’s-Lance had a net margin of 2.25% and a return on equity of 5.36%. The business had revenue of $531.50 million for the quarter, compared to analyst estimates of $529.53 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The business’s revenue was up 18.7% on a year-over-year basis. Analysts forecast that Snyder’s-Lance, Inc. will post $1.10 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Tuesday, August 22nd will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Friday, August 18th. Snyder’s-Lance’s payout ratio is 123.08%.

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LNCE has been the topic of several recent research reports. Jefferies Group LLC set a $44.00 price target on shares of Snyder’s-Lance and gave the stock a “buy” rating in a research report on Saturday, July 29th. BidaskClub downgraded shares of Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. BMO Capital Markets reiterated a “buy” rating and issued a $38.00 price target on shares of Snyder’s-Lance in a research report on Tuesday, June 13th. Zacks Investment Research upgraded shares of Snyder’s-Lance from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. Finally, SunTrust Banks, Inc. downgraded shares of Snyder’s-Lance from a “buy” rating to a “hold” rating and decreased their price target for the stock from $45.00 to $30.00 in a research report on Monday, April 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Snyder’s-Lance currently has a consensus rating of “Hold” and an average price target of $38.67.

In other news, Director Peter P. Brubaker bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was purchased at an average cost 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 through the SEC website. Insiders own 13.70% of the company’s stock.

About Snyder’s-Lance

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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Institutional Ownership by Quarter for Snyder`s-Lance (NASDAQ:LNCE)

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