SunTrust Banks, Inc. reaffirmed their hold rating on shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) in a research note published on Friday. SunTrust Banks, Inc. currently has a $35.00 price objective on the stock. SunTrust Banks also issued estimates for Snyder’s-Lance’s Q4 2017 earnings at $0.41 EPS, FY2017 earnings at $1.16 EPS, Q1 2018 earnings at $0.14 EPS, Q4 2018 earnings at $0.44 EPS, FY2018 earnings at $1.23 EPS and FY2019 earnings at $1.52 EPS.
Other analysts have also issued reports about the company. TheStreet upgraded Snyder’s-Lance from a c+ rating to a b rating in a report on Tuesday, August 8th. Jefferies Group LLC set a $44.00 price objective on Snyder’s-Lance and gave the stock a buy rating in a report on Saturday, July 29th. Zacks Investment Research upgraded Snyder’s-Lance from a hold rating to a buy rating and set a $44.00 price objective for the company in a report on Wednesday, October 18th. BidaskClub lowered Snyder’s-Lance from a buy rating to a hold rating in a report on Tuesday, August 1st. Finally, UBS AG cut their target price on Snyder’s-Lance from $39.00 to $38.00 and set a neutral rating on the stock in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Snyder’s-Lance presently has a consensus rating of Hold and a consensus price target of $41.17.
Shares of Snyder’s-Lance (NASDAQ:LNCE) traded up $0.98 during trading hours on Friday, hitting $35.48. The company had a trading volume of 311,100 shares, compared to its average volume of 586,225. The company has a current ratio of 1.63, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58. Snyder’s-Lance has a twelve month low of $31.03 and a twelve month high of $40.85. The stock has a market capitalization of $3,362.20, a price-to-earnings ratio of 31.08 and a beta of 0.71.
Snyder’s-Lance (NASDAQ:LNCE) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02). Snyder’s-Lance had a positive return on equity of 5.30% and a negative net margin of 2.22%. The firm had revenue of $564.20 million for the quarter, compared to analysts’ expectations of $559.86 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. Snyder’s-Lance’s revenue was up 3.7% on a year-over-year basis. sell-side analysts anticipate that Snyder’s-Lance will post 1.14 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Monday, November 20th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, November 17th. This represents a $0.64 annualized dividend and a yield of 1.80%. Snyder’s-Lance’s dividend payout ratio (DPR) is currently -123.08%.
In other Snyder’s-Lance news, Director Isaiah Tidwell sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $37.35, for a total transaction of $56,025.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Patricia A. Warehime bought 21,263 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were bought at an average price of $37.25 per share, for a total transaction of $792,046.75. The disclosure for this purchase can be found here. 13.70% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of LNCE. Teachers Advisors LLC grew its position in shares of Snyder’s-Lance by 3.4% in the first quarter. Teachers Advisors LLC now owns 144,479 shares of the company’s stock valued at $5,824,000 after purchasing an additional 4,782 shares during the last quarter. Legal & General Group Plc grew its position in shares of Snyder’s-Lance by 29.0% in the first quarter. Legal & General Group Plc now owns 52,682 shares of the company’s stock valued at $2,124,000 after purchasing an additional 11,848 shares during the last quarter. Thrivent Financial For Lutherans grew its position in shares of Snyder’s-Lance by 9.8% in the first quarter. Thrivent Financial For Lutherans now owns 16,060 shares of the company’s stock valued at $647,000 after purchasing an additional 1,440 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Snyder’s-Lance by 6.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 17,155 shares of the company’s stock valued at $692,000 after purchasing an additional 1,070 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in shares of 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 purchasing an additional 132 shares during the last quarter. Institutional investors own 66.25% of the company’s stock.
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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