Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Snyder’s-Lance Inc. (NASDAQ:LNCE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,395 shares of the company’s stock, valued at approximately $285,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in LNCE. LS Investment Advisors LLC increased its position in shares of Snyder’s-Lance by 76.4% in the second quarter. LS Investment Advisors LLC now owns 4,818 shares of the company’s stock valued at $163,000 after buying an additional 2,087 shares during the period. Bank of Montreal Can bought a new position in shares of Snyder’s-Lance during the second quarter valued at about $188,000. Huntington Asset Advisors Inc. bought a new position in shares of Snyder’s-Lance during the first quarter valued at about $189,000. IFP Advisors Inc bought a new position in shares of Snyder’s-Lance during the first quarter valued at about $199,000. Finally, Shelton Capital Management bought a new position in shares of Snyder’s-Lance during the second quarter valued at about $207,000. Institutional investors and hedge funds own 58.35% of the company’s stock.
Shares of Snyder’s-Lance Inc. (NASDAQ:LNCE) traded up 0.21% during mid-day trading on Wednesday, reaching $33.58. 85,471 shares of the company’s stock were exchanged. The stock has a market cap of $3.23 billion, a PE ratio of 160.67 and a beta of 0.58. Snyder’s-Lance Inc. has a one year low of $27.93 and a one year high of $39.10. The company has a 50 day moving average price of $34.78 and a 200-day moving average price of $32.97.
Snyder’s-Lance (NASDAQ:LNCE) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.02. Snyder’s-Lance had a net margin of 0.90% and a return on equity of 5.90%. The firm earned $609.50 million during the quarter, compared to the consensus estimate of $616.28 million. During the same period last year, the firm earned $0.27 EPS. The business’s quarterly revenue was up 41.3% compared to the same quarter last year. On average, analysts predict that Snyder’s-Lance Inc. will post $1.26 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Tuesday, August 23rd were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, August 19th. Snyder’s-Lance’s dividend payout ratio (DPR) is currently 320.00%.
Several research analysts have recently issued reports on LNCE shares. Deutsche Bank AG upped their price target on shares of Snyder’s-Lance from $31.00 to $34.00 and gave the stock a “hold” rating in a report on Tuesday, August 2nd. TheStreet raised shares of Snyder’s-Lance from a “hold” rating to a “buy” rating in a research note on Thursday, June 30th. BMO Capital Markets raised shares of Snyder’s-Lance from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $36.00 to $40.00 in a research note on Thursday, June 9th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Snyder’s-Lance from a “sell” rating to a “hold” rating in a research note on Thursday, June 30th. Finally, Axiom Securities raised shares of Snyder’s-Lance from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $16.00 to $12.25 in a research note on Thursday, June 9th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $37.03.
In other news, Director Peter P. Brubaker sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $36.00, for a total transaction of $144,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John E. Denton sold 6,932 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $33.95, for a total transaction of $235,341.40. The disclosure for this sale can be found here. Insiders own 18.60% of the company’s stock.
Snyder’s-Lance Company Profile
Snyder’s-Lance, Inc is a snack food company. The Company operates in the manufacturing, distribution, marketing and sale of snack food products segment. The Company’s products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, nuts, restaurant style crackers and other salty snacks.
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