BNP Paribas Arbitrage SA Has $1.50 Million Stake in Snyder’s-Lance, Inc. (LNCE)

BNP Paribas Arbitrage SA boosted its holdings in Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 125.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,223 shares of the company’s stock after buying an additional 24,064 shares during the period. BNP Paribas Arbitrage SA’s holdings in Snyder’s-Lance were worth $1,496,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Oppenheimer & Co. Inc. increased its position in shares of Snyder’s-Lance by 0.4% during the first quarter. Oppenheimer & Co. Inc. now owns 16,635 shares of the company’s stock valued at $671,000 after purchasing an additional 65 shares during the period. Atria Investments LLC increased its position in shares of Snyder’s-Lance by 1.1% during the second quarter. Atria Investments LLC now owns 6,193 shares of the company’s stock valued at $214,000 after purchasing an additional 65 shares during the period. BB&T Securities LLC increased its position in shares of Snyder’s-Lance by 1.1% during the first quarter. BB&T Securities LLC now owns 8,062 shares of the company’s stock valued at $324,000 after purchasing an additional 84 shares during the period. Capstone Asset Management Co. increased its position in shares of Snyder’s-Lance by 1.6% during the first quarter. Capstone Asset Management Co. now owns 5,751 shares of the company’s stock valued at $232,000 after purchasing an additional 90 shares during the period. Finally, Teacher Retirement System of Texas grew its position in Snyder’s-Lance by 2.1% in the second quarter. Teacher Retirement System of Texas now owns 6,165 shares of the company’s stock valued at $213,000 after acquiring an additional 129 shares during the period. 66.21% of the stock is currently owned by institutional investors.

In related news, Director Isaiah Tidwell sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $37.35, for a total transaction of $56,025.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patricia A. Warehime purchased 21,263 shares of Snyder’s-Lance stock in a transaction that occurred on Thursday, August 17th. The shares were purchased 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 company insiders.

A number of analysts have weighed in on LNCE shares. UBS AG reiterated a “neutral” rating and issued a $35.00 price target (down from $37.00) on shares of Snyder’s-Lance in a research report on Tuesday, July 18th. BidaskClub cut Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a research report 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 reissued a “buy” rating and issued a $38.00 price objective on shares of Snyder’s-Lance in a research note on Tuesday, June 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $39.80.

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Snyder’s-Lance, Inc. (NASDAQ LNCE) traded up 0.36% during midday trading on Monday, reaching $36.41. The company had a trading volume of 777,014 shares. Snyder’s-Lance, Inc. has a 12-month low of $31.03 and a 12-month high of $40.85. The company has a market capitalization of $3.52 billion, a PE ratio of 98.94 and a beta of 0.71. The stock has a 50-day moving average price of $36.28 and a 200 day moving average price of $36.74.

Snyder’s-Lance (NASDAQ:LNCE) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.27 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $565.66 million. During the same period last year, the business posted $0.28 earnings per share. Snyder’s-Lance’s quarterly revenue 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 issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.64 annualized dividend and a dividend yield of 1.76%. Snyder’s-Lance’s payout ratio is 177.78%.

Snyder’s-Lance 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.

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

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