Snyder’s-Lance, Inc. (LNCE) Holdings Lifted by Highlander Capital Management LLC
Highlander Capital Management LLC boosted its stake in shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 317.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,100 shares of the company’s stock after acquiring an additional 5,400 shares during the quarter. Highlander Capital Management LLC’s holdings in Snyder’s-Lance were worth $249,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. FNY Partners Fund LP acquired a new position in Snyder’s-Lance during the second quarter worth $103,000. PNC Financial Services Group Inc. raised its stake in Snyder’s-Lance by 17.9% during the second quarter. PNC Financial Services Group Inc. now owns 3,060 shares of the company’s stock worth $107,000 after acquiring an additional 465 shares in the last quarter. Creative Planning raised its stake in Snyder’s-Lance by 68.7% during the second quarter. Creative Planning now owns 4,083 shares of the company’s stock worth $141,000 after acquiring an additional 1,663 shares in the last quarter. US Bancorp DE raised its stake in Snyder’s-Lance by 12.7% during the second quarter. US Bancorp DE now owns 4,553 shares of the company’s stock worth $158,000 after acquiring an additional 513 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Snyder’s-Lance by 3.4% during the first 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 in the last quarter. Hedge funds and other institutional investors own 66.21% of the company’s stock.
In other news, Director Isaiah Tidwell sold 1,500 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $37.35, for a total transaction of $56,025.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patricia A. Warehime purchased 21,263 shares of the stock in a transaction dated Thursday, August 17th. The shares were acquired at an average cost of $37.25 per share, with a total value of $792,046.75. The disclosure for this purchase can be found here. 13.70% of the stock is currently owned by insiders.
Several research analysts have issued reports on LNCE shares. 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 note on Tuesday, July 18th. BidaskClub lowered Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Zacks Investment Research lowered Snyder’s-Lance from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Jefferies Group LLC set a $44.00 price objective on Snyder’s-Lance and gave the stock a “buy” rating in a research note on Saturday, July 29th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $38.00 price objective on shares of Snyder’s-Lance in a research note on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $39.80.
WARNING: This piece was originally reported by Daily Political and is the sole property of of Daily Political. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.dailypolitical.com/2017/10/10/snyders-lance-inc-lnce-holdings-lifted-by-highlander-capital-management-llc.html.
Shares of Snyder’s-Lance, Inc. (LNCE) traded up 0.73% during mid-day trading on Tuesday, hitting $38.84. The stock had a trading volume of 54,843 shares. The company has a market capitalization of $3.75 billion, a P/E ratio of 105.54 and a beta of 0.70. The stock’s 50-day moving average price is $36.93 and its 200 day moving average price is $36.51. Snyder’s-Lance, Inc. has a 1-year low of $31.03 and a 1-year high of $40.85.
Snyder’s-Lance (NASDAQ:LNCE) last released its earnings results on Tuesday, August 8th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $579.60 million during the quarter, compared to the consensus estimate of $565.66 million. Snyder’s-Lance had a return on equity of 5.34% and a net margin of 1.60%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. On average, analysts predict that Snyder’s-Lance, Inc. will post $1.15 EPS for the current fiscal year.
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.
Want to see what other hedge funds are holding LNCE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snyder’s-Lance, Inc. (NASDAQ:LNCE).
Receive News & Ratings for Snyder's-Lance Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snyder's-Lance Inc. and related companies with MarketBeat.com's FREE daily email newsletter.