Comerica Bank lessened its stake in shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 67,344 shares of the company’s stock after selling 6,135 shares during the period. Comerica Bank owned approximately 0.07% of Snyder’s-Lance worth $2,386,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in LNCE. BlackRock Inc. raised its holdings in Snyder’s-Lance by 16,621.1% during the 1st quarter. BlackRock Inc. now owns 8,520,053 shares of the company’s stock valued at $343,444,000 after buying an additional 8,469,099 shares during the period. Goldman Sachs Group Inc. raised its holdings in Snyder’s-Lance by 625.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,999,017 shares of the company’s stock valued at $80,580,000 after buying an additional 1,723,553 shares during the period. Victory Capital Management Inc. raised its holdings in Snyder’s-Lance by 27.9% during the 1st quarter. Victory Capital Management Inc. now owns 2,019,351 shares of the company’s stock valued at $81,400,000 after buying an additional 440,685 shares during the period. Fisher Asset Management LLC raised its holdings in Snyder’s-Lance by 110.2% during the 2nd quarter. Fisher Asset Management LLC now owns 784,446 shares of the company’s stock valued at $27,158,000 after buying an additional 411,307 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Snyder’s-Lance by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 6,597,352 shares of the company’s stock valued at $265,939,000 after buying an additional 329,799 shares during the period. Institutional investors own 66.21% of the company’s stock.
In other news, Director Patricia A. Warehime acquired 21,263 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average cost of $37.25 per share, with a total value of $792,046.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patricia A. Warehime acquired 18,839 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was purchased at an average cost of $37.24 per share, with a total value of $701,564.36. The disclosure for this purchase can be found here. 13.70% of the stock is currently owned by insiders.
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Several analysts recently weighed in on LNCE shares. TheStreet upgraded Snyder’s-Lance from a “c+” rating to a “b” rating in a report on Tuesday, August 8th. BidaskClub lowered Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. BMO Capital Markets restated a “buy” rating and set a $38.00 price target on shares of Snyder’s-Lance in a report on Tuesday, June 13th. Jefferies Group LLC set a $44.00 price target on Snyder’s-Lance and gave the company a “buy” rating in a report on Saturday, July 29th. Finally, Zacks Investment Research upgraded Snyder’s-Lance from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $39.80.
Shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) opened at 35.68 on Thursday. The firm has a 50-day moving average price of $36.14 and a 200-day moving average price of $36.94. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 96.96 and a beta of 0.71. 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 announced its earnings results 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. Snyder’s-Lance had a return on equity of 5.34% and a net margin of 1.60%. The business had revenue of $579.60 million for the quarter, compared to analyst estimates of $565.66 million. During the same period in the previous year, the company earned $0.28 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts forecast that Snyder’s-Lance, Inc. will post $1.14 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Stockholders of record on Tuesday, August 22nd were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Friday, August 18th. Snyder’s-Lance’s payout ratio is 177.78%.
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.
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