Neuberger Berman Group LLC lowered its position in Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 14.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,248 shares of the company’s stock after selling 3,061 shares during the quarter. Neuberger Berman Group LLC’s holdings in Snyder’s-Lance were worth $632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Snyder’s-Lance by 16,621.1% in the first quarter. BlackRock Inc. now owns 8,520,053 shares of the company’s stock valued at $343,444,000 after acquiring an additional 8,469,099 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Snyder’s-Lance by 5.3% in the first quarter. Vanguard Group Inc. now owns 6,597,352 shares of the company’s stock valued at $265,939,000 after acquiring an additional 329,799 shares during the last quarter. Champlain Investment Partners LLC boosted its holdings in Snyder’s-Lance by 7.1% in the first quarter. Champlain Investment Partners LLC now owns 4,195,470 shares of the company’s stock valued at $169,119,000 after acquiring an additional 279,540 shares during the last quarter. State Street Corp boosted its holdings in Snyder’s-Lance by 3.2% in the first quarter. State Street Corp now owns 2,654,929 shares of the company’s stock valued at $107,016,000 after acquiring an additional 82,144 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings 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 valued at $84,105,000 after acquiring an additional 16,200 shares during the last quarter. Hedge funds and other institutional investors own 66.21% of the company’s stock.

In other news, Director Patricia A. Warehime purchased 21,263 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was bought at an average cost of $37.25 per share, for a total transaction of $792,046.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Isaiah Tidwell sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were 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. 13.70% of the stock is owned by corporate insiders.

LNCE has been the topic of several research reports. BMO Capital Markets reissued a “buy” rating and issued a $38.00 price objective on shares of Snyder’s-Lance in a research report on Tuesday, June 13th. BidaskClub lowered Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Zacks Investment Research raised Snyder’s-Lance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 20th. UBS AG reissued a “neutral” rating and issued 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 Snyder’s-Lance and gave the company a “buy” rating in a research report on Saturday, July 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $39.80.

Shares of Snyder’s-Lance, Inc. (LNCE) opened at 36.65 on Friday. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 99.59 and a beta of 0.71. The stock’s 50 day moving average price is $36.34 and its 200-day moving average price is $36.72. Snyder’s-Lance, Inc. has a 12 month low of $31.03 and a 12 month high of $40.85.

Snyder’s-Lance (NASDAQ:LNCE) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.27 earnings per share (EPS) 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 analysts’ expectations of $565.66 million. Snyder’s-Lance had a net margin of 1.60% and a return on equity of 5.34%. Snyder’s-Lance’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share. Equities analysts forecast that Snyder’s-Lance, Inc. will post $1.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 30th. Shareholders of record on Tuesday, August 22nd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Friday, August 18th. Snyder’s-Lance’s dividend payout ratio (DPR) is 177.78%.

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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.

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

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