Texas Permanent School Fund boosted its position in shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,792 shares of the company’s stock after buying an additional 730 shares during the period. Texas Permanent School Fund’s holdings in Snyder’s-Lance were worth $2,174,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Investment Counselors of Maryland LLC raised its position in shares of Snyder’s-Lance by 5.7% in the second quarter. Investment Counselors of Maryland LLC now owns 388,512 shares of the company’s stock worth $13,450,000 after buying an additional 21,000 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of Snyder’s-Lance by 2.4% in the second quarter. Great West Life Assurance Co. Can now owns 52,204 shares of the company’s stock worth $1,805,000 after buying an additional 1,239 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Snyder’s-Lance by 23.4% in the second quarter. Janney Montgomery Scott LLC now owns 15,185 shares of the company’s stock worth $526,000 after buying an additional 2,879 shares during the last quarter. ING Groep NV purchased a new position in shares of Snyder’s-Lance during the second quarter worth $362,000. Finally, Wellington Shields Capital Management LLC raised its position in shares of Snyder’s-Lance by 9.2% in the second quarter. Wellington Shields Capital Management LLC now owns 93,394 shares of the company’s stock worth $3,233,000 after buying an additional 7,900 shares during the last quarter. Institutional investors own 63.88% of the company’s stock.
Snyder’s-Lance, Inc. (NASDAQ LNCE) opened at 36.73 on Friday. Snyder’s-Lance, Inc. has a 12-month low of $31.03 and a 12-month high of $40.85. The stock’s 50 day moving average price is $35.29 and its 200 day moving average price is $37.21. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 99.81 and a beta of 0.71.
Snyder’s-Lance (NASDAQ:LNCE) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. Snyder’s-Lance had a return on equity of 5.34% and a net margin of 1.60%. The business had revenue of $579.60 million for the quarter, compared to the consensus estimate of $565.66 million. During the same period in the prior year, the business earned $0.28 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. Analysts forecast that Snyder’s-Lance, Inc. will post $1.12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Tuesday, August 22nd will be given a $0.16 dividend. The ex-dividend date is Friday, August 18th. This represents a $0.64 annualized dividend and a dividend yield of 1.74%. Snyder’s-Lance’s dividend payout ratio is currently 177.78%.
A number of research analysts have weighed in on the company. UBS AG restated a “neutral” rating and issued a $39.00 price objective (up previously from $35.00) on shares of Snyder’s-Lance in a report on Thursday. TheStreet upgraded Snyder’s-Lance from a “c+” rating to a “b” rating in a report on Tuesday. BMO Capital Markets restated an “outperform” rating and issued a $43.00 price objective (up previously from $38.00) on shares of Snyder’s-Lance in a report on Wednesday. BidaskClub lowered Snyder’s-Lance from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Jefferies Group LLC set a $44.00 price objective on Snyder’s-Lance and gave the company a “buy” rating in a report on Saturday, July 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $39.80.
In related news, Director Peter P. Brubaker acquired 1,000 shares of Snyder’s-Lance stock in a transaction dated Friday, May 26th. The shares were acquired at an average cost of $37.10 per share, for a total transaction of $37,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.70% of the stock is owned by corporate insiders.
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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