Snyder’s-Lance, Inc. (LNCE) Stake Increased by Oak Ridge Investments LLC
Oak Ridge Investments LLC lifted its position in shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 30.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,087,389 shares of the company’s stock after acquiring an additional 251,233 shares during the period. Oak Ridge Investments LLC owned approximately 1.13% of Snyder’s-Lance worth $37,645,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Meadow Creek Investment Management LLC lifted its holdings in shares of Snyder’s-Lance by 21.6% during the 1st quarter. Meadow Creek Investment Management LLC now owns 3,424 shares of the company’s stock worth $138,000 after acquiring an additional 608 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Snyder’s-Lance by 3.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 4,058 shares of the company’s stock worth $164,000 after acquiring an additional 132 shares during the period. Creative Planning lifted its holdings in shares of Snyder’s-Lance by 68.7% during the 2nd quarter. Creative Planning now owns 4,083 shares of the company’s stock worth $141,000 after acquiring an additional 1,663 shares during the period. US Bancorp DE lifted its holdings in shares of Snyder’s-Lance by 12.7% during the 2nd quarter. US Bancorp DE now owns 4,553 shares of the company’s stock worth $158,000 after acquiring an additional 513 shares during the period. Finally, Neuburgh Advisers LLC lifted its holdings in shares of Snyder’s-Lance by 21.6% during the 1st quarter. Neuburgh Advisers LLC now owns 4,708 shares of the company’s stock worth $190,000 after acquiring an additional 836 shares during the period. 66.21% of the stock is owned by institutional investors.
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In other Snyder’s-Lance news, Director Patricia A. Warehime acquired 21,263 shares of the stock in a transaction dated Thursday, August 17th. The stock was purchased at an average cost of $37.25 per share, for a total transaction of $792,046.75. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Isaiah Tidwell sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $37.35, for a total transaction of $56,025.00. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.
A number of brokerages have recently weighed in on LNCE. BidaskClub downgraded shares of Snyder’s-Lance from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Zacks Investment Research raised shares of Snyder’s-Lance from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 20th. BMO Capital Markets reaffirmed a “buy” rating and set a $38.00 price target on shares of Snyder’s-Lance in a report on Tuesday, June 13th. UBS AG reiterated a “neutral” rating and set a $35.00 price objective (down from $37.00) on shares of Snyder’s-Lance in a research report on Tuesday, July 18th. Finally, Jefferies Group LLC set a $44.00 price objective on shares of Snyder’s-Lance and gave the stock a “buy” rating in a research report on Saturday, July 29th. One equities 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’s stock. Snyder’s-Lance presently has an average rating of “Hold” and a consensus target price of $39.80.
Shares of Snyder’s-Lance, Inc. (NASDAQ LNCE) traded up 0.42% during trading on Friday, reaching $35.72. 541,712 shares of the company’s stock traded hands. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 97.07 and a beta of 0.71. The company’s 50-day moving average is $36.17 and its 200 day moving average is $36.92. Snyder’s-Lance, Inc. has a 52-week low of $31.03 and a 52-week high of $40.85.
Snyder’s-Lance (NASDAQ:LNCE) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The firm 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 business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 EPS. Equities analysts forecast that Snyder’s-Lance, Inc. will post $1.14 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 30th. Stockholders of record on Tuesday, August 22nd were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.79%. Snyder’s-Lance’s payout ratio is 177.78%.
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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