Snyder's-Lance Inc (NASDAQ:LNCE) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.
A number of other analysts also recently weighed in on the company. Jefferies Group LLC reiterated a “buy” rating and set a $44.00 price target on shares of Snyder's-Lance in a report on Wednesday, April 26th. Zacks Investment Research upgraded Snyder's-Lance from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. SunTrust Banks, Inc. downgraded Snyder's-Lance from a “buy” rating to a “hold” rating and decreased their price target for the stock from $45.00 to $30.00 in a report on Monday, April 17th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $38.00 price target on shares of Snyder's-Lance in a report on Tuesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.40.
Shares of Snyder's-Lance (NASDAQ LNCE) traded down 2.81% during midday trading on Friday, hitting $35.64. The company had a trading volume of 1,396,261 shares. Snyder's-Lance has a one year low of $31.03 and a one year high of $40.85. The stock’s 50-day moving average price is $36.28 and its 200-day moving average price is $37.95. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 67.76 and a beta of 0.67.
Snyder's-Lance (NASDAQ:LNCE) last issued its quarterly earnings results on Monday, May 8th. The company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.01. Snyder's-Lance had a return on equity of 2.41% and a net margin of 2.13%. The business had revenue of $531.50 million for the quarter, compared to analyst estimates of $529.53 million. During the same quarter in the previous year, the business posted $0.25 earnings per share. The business’s revenue was up 18.7% on a year-over-year basis. Analysts predict that Snyder's-Lance will post $1.11 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Thursday, May 18th were paid a $0.16 dividend. The ex-dividend date was Tuesday, May 16th. This represents a $0.64 annualized dividend and a dividend yield of 1.80%. Snyder's-Lance’s dividend payout ratio is presently 123.08%.
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In other news, Director Peter P. Brubaker bought 1,000 shares of Snyder's-Lance stock in a transaction dated Friday, May 26th. The stock was bought at an average cost of $37.10 per share, for a total transaction of $37,100.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 13.70% of the company’s stock.
Several hedge funds have recently modified their holdings of LNCE. State Street Corp increased its stake in shares of Snyder's-Lance by 1.4% in the fourth quarter. State Street Corp now owns 2,572,785 shares of the company’s stock valued at $98,643,000 after buying an additional 35,827 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of Snyder's-Lance during the fourth quarter valued at approximately $234,000. Baird Financial Group Inc. purchased a new stake in shares of Snyder's-Lance during the fourth quarter valued at approximately $602,000. Employees Retirement System of Texas increased its stake in shares of Snyder's-Lance by 43.0% in the fourth quarter. Employees Retirement System of Texas now owns 143,000 shares of the company’s stock valued at $5,483,000 after buying an additional 43,000 shares in the last quarter. Finally, Flinton Capital Management LLC purchased a new stake in shares of Snyder's-Lance during the fourth quarter valued at approximately $229,000. Institutional investors own 65.11% of the company’s stock.
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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