Snyder’s-Lance, Inc. (LNCE) Stake Increased by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC boosted its stake in Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 0.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 414,115 shares of the company’s stock after buying an additional 635 shares during the period. Rice Hall James & Associates LLC’s holdings in Snyder’s-Lance were worth $14,337,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of 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 buying an additional 8,469,099 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Snyder’s-Lance by 625.7% in the first 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 last quarter. Victory Capital Management Inc. boosted its stake in shares of Snyder’s-Lance by 27.9% in the first 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 last quarter. Fisher Asset Management LLC boosted its stake in shares of Snyder’s-Lance by 110.2% in the second 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 last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 329,799 shares during the last quarter. 63.88% of the stock is currently owned by hedge funds and other institutional investors.

Snyder’s-Lance, Inc. (NASDAQ:LNCE) opened at 37.10 on Friday. The firm has a 50-day moving average of $35.32 and a 200 day moving average of $37.20. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 100.82 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 announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. Snyder’s-Lance had a net margin of 1.60% and a return on equity of 5.34%. 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 prior year, the business posted $0.28 earnings per share. Snyder’s-Lance’s revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that Snyder’s-Lance, Inc. will post $1.13 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Tuesday, August 22nd will be issued 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 1.73%. Snyder’s-Lance’s dividend payout ratio is currently 177.78%.

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Several equities research analysts recently commented on LNCE shares. Jefferies Group LLC reissued a “buy” rating and set a $44.00 target price on shares of Snyder’s-Lance in a report on Wednesday, April 26th. BidaskClub cut Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. UBS AG restated a “neutral” rating and issued a $35.00 price target (down previously from $37.00) on shares of Snyder’s-Lance in a research report on Tuesday, July 18th. Zacks Investment Research lowered shares of Snyder’s-Lance from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, SunTrust Banks, Inc. lowered shares of Snyder’s-Lance from a “buy” rating to a “hold” rating and decreased their price target for the stock from $45.00 to $30.00 in a research report on Monday, April 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.80.

In other news, Director Peter P. Brubaker bought 1,000 shares of the business’s stock in a transaction on Friday, May 26th. The shares were bought at an average cost of $37.10 per share, for a total transaction of $37,100.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.70% of the company’s stock.

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.

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

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