White Pine Capital LLC reduced its position in shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,475 shares of the company’s stock after selling 125 shares during the period. White Pine Capital LLC’s holdings in Snyder’s-Lance were worth $328,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Snyder’s-Lance by 16,621.1% during the first quarter. BlackRock Inc. now owns 8,520,053 shares of the company’s stock worth $343,444,000 after purchasing an additional 8,469,099 shares during the last quarter. Vanguard Group Inc. increased its position in Snyder’s-Lance by 5.3% during the first quarter. Vanguard Group Inc. now owns 6,597,352 shares of the company’s stock worth $265,939,000 after purchasing an additional 329,799 shares during the last quarter. Champlain Investment Partners LLC increased its position in Snyder’s-Lance by 7.1% during the first quarter. Champlain Investment Partners LLC now owns 4,195,470 shares of the company’s stock worth $169,119,000 after purchasing an additional 279,540 shares during the last quarter. State Street Corp increased its position in Snyder’s-Lance by 3.2% during the first quarter. State Street Corp now owns 2,654,929 shares of the company’s stock worth $107,016,000 after purchasing an additional 82,144 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position in Snyder’s-Lance by 0.7% during the second quarter. Gamco Investors INC. ET AL now owns 2,429,375 shares of the company’s stock worth $84,105,000 after purchasing an additional 16,200 shares during the last quarter. Hedge funds and other institutional investors own 66.21% of the company’s stock.
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Several research firms recently issued reports on LNCE. BMO Capital Markets restated an “outperform” rating and set a $43.00 price objective (up from $38.00) on shares of Snyder’s-Lance in a research report on Wednesday, August 9th. TheStreet upgraded shares of Snyder’s-Lance from a “c+” rating to a “b” rating in a research report on Tuesday, August 8th. UBS AG reiterated a “neutral” rating and set a $39.00 price target (up from $35.00) on shares of Snyder’s-Lance in a research report on Thursday, August 10th. Zacks Investment Research upgraded shares of Snyder’s-Lance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, BidaskClub cut shares of Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Snyder’s-Lance presently has a consensus rating of “Hold” and a consensus target price of $39.80.
In other news, Director Isaiah Tidwell sold 1,500 shares of the stock in a transaction dated 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 document filed with the SEC, which is available through this hyperlink. Also, Director Patricia A. Warehime acquired 21,263 shares of the business’s stock in a transaction dated 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. Corporate insiders own 13.70% of the company’s stock.
Shares of Snyder’s-Lance, Inc. (LNCE) traded up 1.37% during midday trading on Monday, hitting $36.21. 20,974 shares of the company’s stock were exchanged. Snyder’s-Lance, Inc. has a one year low of $31.03 and a one year high of $40.85. The firm has a market cap of $3.50 billion, a PE ratio of 98.40 and a beta of 0.71. The stock’s 50-day moving average price is $36.18 and its 200 day moving average price is $36.89.
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, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The business had revenue of $579.60 million for the quarter, compared to analyst estimates of $565.66 million. Snyder’s-Lance had a net margin of 1.60% and a return on equity of 5.34%. The company’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 EPS. Equities research analysts forecast that Snyder’s-Lance, Inc. will post $1.14 EPS for the current year.
The business also recently disclosed 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 1.79%. Snyder’s-Lance’s payout ratio is currently 177.78%.
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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