Atria Investments LLC boosted its stake in Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 1.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 6,193 shares of the company’s stock after buying an additional 65 shares during the period. Atria Investments LLC’s holdings in Snyder’s-Lance were worth $214,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of LNCE. Meadow Creek Investment Management LLC boosted its stake 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 period. Public Employees Retirement System of Ohio boosted its stake 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 period. Neuburgh Advisers LLC boosted its stake 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 period. BlueCrest Capital Management Ltd bought a new stake in Snyder’s-Lance during the first quarter valued at $201,000. Finally, Capstone Asset Management Co. boosted its stake in Snyder’s-Lance by 1.6% in the second quarter. Capstone Asset Management Co. now owns 5,841 shares of the company’s stock valued at $202,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 64.80% of the company’s stock.
Shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) opened at 35.04 on Thursday. The stock has a market cap of $3.39 billion, a PE ratio of 66.62 and a beta of 0.71. The stock’s 50 day moving average is $35.75 and its 200 day moving average is $37.48. 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 released its quarterly earnings results on Monday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.01. The business had revenue of $531.50 million for the quarter, compared to analysts’ expectations of $529.53 million. Snyder’s-Lance had a net margin of 2.25% and a return on equity of 5.36%. Snyder’s-Lance’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 EPS. Equities research analysts forecast that Snyder’s-Lance, Inc. will post $1.10 earnings per share for the current year.
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Several research firms have recently weighed in on LNCE. UBS AG began coverage on shares of Snyder’s-Lance in a research report on Wednesday, March 22nd. They set a “neutral” rating and a $44.00 price objective on the stock. SunTrust Banks, Inc. cut shares of Snyder’s-Lance from a “buy” rating to a “hold” rating and lowered their price objective for the company from $45.00 to $30.00 in a research report on Monday, April 17th. BMO Capital Markets restated a “buy” rating and set a $38.00 price objective 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 “strong sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, BidaskClub cut shares of Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Snyder’s-Lance currently has an average rating of “Buy” and an average price target of $38.67.
In other Snyder’s-Lance news, Director Peter P. Brubaker purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were bought at an average price of $37.10 per share, with a total value of $37,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.70% of the stock is owned by corporate insiders.
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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