Deprince Race & Zollo Inc. purchased a new stake in shares of Snyder’s-Lance Inc. (NASDAQ:LNCE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 144,553 shares of the company’s stock, valued at approximately $4,899,000.
A number of other hedge funds also recently added to or reduced their stakes in LNCE. LS Investment Advisors LLC raised its stake in 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 last quarter. Bank of Montreal Can bought a new stake in Snyder’s-Lance during the second quarter valued at $188,000. Huntington Asset Advisors Inc. bought a new stake in Snyder’s-Lance during the first quarter valued at $189,000. IFP Advisors Inc bought a new stake in Snyder’s-Lance during the first quarter valued at $199,000. Finally, Fox Run Management L.L.C. bought a new stake in Snyder’s-Lance during the second quarter valued at $214,000. Institutional investors own 58.35% of the company’s stock.
Shares of Snyder’s-Lance Inc. (NASDAQ:LNCE) traded up 0.32% during midday trading on Thursday, reaching $34.04. The company had a trading volume of 392,519 shares. Snyder’s-Lance Inc. has a 52 week low of $27.93 and a 52 week high of $39.10. The company has a market capitalization of $3.27 billion, a P/E ratio of 162.87 and a beta of 0.56. The company’s 50 day moving average price is $34.45 and its 200-day moving average price is $33.04.
Snyder’s-Lance (NASDAQ:LNCE) last announced its earnings results on Tuesday, August 9th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The firm earned $609.50 million during the quarter, compared to analysts’ expectations of $616.28 million. Snyder’s-Lance had a return on equity of 5.90% and a net margin of 0.90%. The business’s revenue was up 41.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS. On average, equities research analysts predict that Snyder’s-Lance Inc. will post $1.26 earnings per share for the current fiscal year.
LNCE has been the topic of several recent research reports. Axiom Securities upgraded Snyder’s-Lance from a “hold” rating to a “buy” rating and decreased their price target for the company from $16.00 to $12.25 in a report on Thursday, June 9th. TheStreet upgraded Snyder’s-Lance from a “hold” rating to a “buy” rating in a research note on Thursday, June 30th. DA Davidson increased their target price on Snyder’s-Lance from $38.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, August 9th. Deutsche Bank AG increased their target price on Snyder’s-Lance from $31.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday, August 2nd. Finally, Zacks Investment Research upgraded Snyder’s-Lance from a “sell” rating to a “hold” rating in a research note on Thursday, June 30th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $37.03.
In related news, Director John E. Denton sold 6,932 shares of the company’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $33.95, for a total value of $235,341.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter P. Brubaker sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $36.00, for a total value of $144,000.00. The disclosure for this sale can be found here. 18.60% of the stock is owned by corporate insiders.
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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