First Citizens Bank & Trust Co. boosted its stake in Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 42.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,677 shares of the company’s stock after buying an additional 3,485 shares during the period. First Citizens Bank & Trust Co.’s holdings in Snyder’s-Lance were worth $404,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. US Bancorp DE raised 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 valued at $158,000 after buying an additional 513 shares during the last quarter. State Treasurer State of Michigan raised its position in shares of Snyder’s-Lance by 2.0% in the second quarter. State Treasurer State of Michigan now owns 35,500 shares of the company’s stock worth $1,229,000 after buying an additional 700 shares in the last quarter. Diversified Trust Co raised its position in shares of Snyder’s-Lance by 21.8% in the second quarter. Diversified Trust Co now owns 15,835 shares of the company’s stock worth $548,000 after buying an additional 2,835 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Snyder’s-Lance by 3.7% in the second quarter. Louisiana State Employees Retirement System now owns 22,400 shares of the company’s stock worth $775,000 after buying an additional 800 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Snyder’s-Lance by 1.3% in the second quarter. Nisa Investment Advisors LLC now owns 11,390 shares of the company’s stock worth $405,000 after buying an additional 150 shares in the last quarter. 63.88% of the stock is currently owned by institutional investors and hedge funds.
Snyder’s-Lance, Inc. (NASDAQ:LNCE) traded up 11.4610% during mid-day trading on Tuesday, reaching $38.8999. 1,439,872 shares of the company traded hands. The stock has a 50-day moving average of $35.33 and a 200 day moving average of $37.30. Snyder’s-Lance, Inc. has a 52-week low of $31.03 and a 52-week high of $40.86. The stock has a market capitalization of $3.76 billion, a PE ratio of 73.9542 and a beta of 0.71.
Snyder’s-Lance (NASDAQ:LNCE) last announced its earnings results on Tuesday, August 8th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.02. Snyder’s-Lance had a net margin of 2.25% and a return on equity of 5.36%. The business had revenue of $579.60 million for the quarter, compared to analyst estimates of $565.66 million. During the same quarter in the previous year, the firm posted $0.28 earnings per share. Snyder’s-Lance’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts expect that Snyder’s-Lance, Inc. will post $1.10 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Tuesday, August 22nd will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.64 dividend on an annualized basis and a yield of 1.83%. Snyder’s-Lance’s dividend payout ratio is currently 123.08%.
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A number of brokerages recently weighed in on LNCE. BidaskClub lowered shares of Snyder’s-Lance from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Jefferies Group LLC set a $44.00 price target on shares of Snyder’s-Lance and gave the company a “buy” rating in a research note on Saturday, July 29th. BMO Capital Markets reaffirmed a “buy” rating and issued a $38.00 price target on shares of Snyder’s-Lance in a research note on Tuesday, June 13th. Zacks Investment Research upgraded shares of Snyder’s-Lance from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, SunTrust Banks, Inc. downgraded shares of Snyder’s-Lance from a “buy” rating to a “hold” rating and cut their price objective for the company from $45.00 to $30.00 in a report on Monday, April 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $38.67.
In other Snyder’s-Lance news, Director Peter P. Brubaker purchased 1,000 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were purchased at an average price of $37.10 per share, for a total transaction of $37,100.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 13.70% of the stock is owned by 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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