Capital Investment Advisory Services LLC lowered its stake in shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 29.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 17,545 shares of the company’s stock after selling 7,250 shares during the period. Capital Investment Advisory Services LLC’s holdings in Snyder’s-Lance were worth $607,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. 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 worth $138,000 after buying an additional 608 shares during the last quarter. Creative Planning boosted its stake in Snyder’s-Lance by 68.7% in the second quarter. Creative Planning now owns 4,083 shares of the company’s stock worth $141,000 after buying an additional 1,663 shares during the last quarter. US Bancorp DE boosted its stake in Snyder’s-Lance by 12.7% in the second quarter. US Bancorp DE now owns 4,553 shares of the company’s stock worth $158,000 after buying an additional 513 shares during the last quarter. 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 worth $164,000 after buying an additional 132 shares during the last quarter. Finally, 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 worth $190,000 after buying an additional 836 shares during the last quarter. 64.42% of the stock is owned by hedge funds and other institutional investors.
Snyder’s-Lance, Inc. (NASDAQ LNCE) opened at 34.66 on Friday. The stock’s 50 day moving average price is $35.33 and its 200-day moving average price is $37.30. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 65.89 and a beta of 0.71. 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 posted its quarterly earnings data on Monday, May 8th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by $0.01. Snyder’s-Lance had a net margin of 2.25% and a return on equity of 5.36%. The firm had revenue of $531.50 million during the quarter, compared to analysts’ expectations of $529.53 million. During the same quarter in the previous year, the company posted $0.25 EPS. Snyder’s-Lance’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities research analysts forecast that Snyder’s-Lance, Inc. will post $1.10 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Tuesday, August 22nd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.64 annualized dividend and a yield of 1.85%. Snyder’s-Lance’s payout ratio is 123.08%.
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A number of analysts have recently issued reports on the company. BidaskClub cut Snyder’s-Lance from a “buy” rating to a “hold” rating in a research report on Tuesday. 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. UBS AG reaffirmed 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. Zacks Investment Research cut Snyder’s-Lance from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Snyder’s-Lance in a research report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $38.67.
In other news, Director Peter P. Brubaker acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were acquired at an average price of $37.10 per share, for a total transaction of $37,100.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.70% of the stock is currently 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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