Sciencast Management LP bought a new position in shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 20,099 shares of the company’s stock, valued at approximately $696,000.
Several other hedge funds have also recently bought and sold shares of LNCE. BlackRock Inc. boosted its stake in shares of Snyder’s-Lance by 16,621.1% during the 1st quarter. BlackRock Inc. now owns 8,520,053 shares of the company’s stock worth $343,444,000 after acquiring an additional 8,469,099 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Snyder’s-Lance by 108.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,165,505 shares of the company’s stock worth $144,210,000 after acquiring an additional 2,166,488 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Snyder’s-Lance by 110.2% during the 2nd quarter. Fisher Asset Management LLC now owns 784,446 shares of the company’s stock worth $27,158,000 after acquiring an additional 411,307 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Snyder’s-Lance by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 6,597,352 shares of the company’s stock worth $265,939,000 after acquiring an additional 329,799 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its stake in shares of Snyder’s-Lance by 7.1% during the 1st quarter. Champlain Investment Partners LLC now owns 4,195,470 shares of the company’s stock worth $169,119,000 after acquiring an additional 279,540 shares in the last quarter. 66.21% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on LNCE shares. UBS AG reaffirmed a “neutral” rating and issued a $35.00 price target (down from $37.00) on shares of Snyder’s-Lance in a research note on Tuesday, July 18th. BidaskClub lowered shares of Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Zacks Investment Research lowered shares of 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 target on shares of Snyder’s-Lance and gave the company a “buy” rating in a research note on Saturday, July 29th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Snyder’s-Lance presently has a consensus rating of “Hold” and a consensus target price of $39.80.
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In related news, Director Patricia A. Warehime bought 18,839 shares of the stock in a transaction on Tuesday, August 15th. The shares were bought at an average cost of $37.24 per share, for a total transaction of $701,564.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Isaiah Tidwell sold 1,500 shares of the company’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 disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.
Shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) traded down 0.10% on Friday, reaching $38.79. 422,738 shares of the company were exchanged. Snyder’s-Lance, Inc. has a 52-week low of $31.03 and a 52-week high of $40.85. The stock has a 50 day moving average of $36.89 and a 200-day moving average of $36.57. The company has a market capitalization of $3.75 billion, a P/E ratio of 105.41 and a beta of 0.71.
Snyder’s-Lance (NASDAQ:LNCE) last issued its earnings results on Tuesday, August 8th. The company reported $0.27 earnings per share for the quarter, topping the 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 company had revenue of $579.60 million for the quarter, compared to analyst estimates of $565.66 million. During the same period in the prior year, the business posted $0.28 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts predict that Snyder’s-Lance, Inc. will post $1.15 EPS for the current fiscal year.
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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