BlackRock Inc. Has $447.29 Million Stake in Snyder's-Lance Inc (LNCE)
BlackRock Inc. lifted its holdings in shares of Snyder's-Lance Inc (NASDAQ:LNCE) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,931,466 shares of the company’s stock after buying an additional 223,983 shares during the quarter. BlackRock Inc. owned about 0.09% of Snyder's-Lance worth $447,287,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Public Employees Retirement System of Ohio grew its position in shares of Snyder's-Lance by 5.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,272 shares of the company’s stock worth $148,000 after buying an additional 214 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Snyder's-Lance by 235.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,246 shares of the company’s stock worth $162,000 after buying an additional 2,981 shares during the period. Prospera Financial Services Inc acquired a new stake in shares of Snyder's-Lance during the 4th quarter worth approximately $200,000. Shelton Capital Management acquired a new stake in shares of Snyder's-Lance during the 3rd quarter worth approximately $204,000. Finally, World Asset Management Inc acquired a new stake in shares of Snyder's-Lance during the 3rd quarter worth approximately $209,000. Institutional investors own 67.07% of the company’s stock.
Several equities research analysts have recently commented on the stock. BidaskClub cut shares of Snyder's-Lance from a “buy” rating to a “hold” rating in a research report on Wednesday, January 24th. SunTrust Banks lifted their price target on shares of Snyder's-Lance to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, December 19th. BMO Capital Markets lifted their price target on shares of Snyder's-Lance from $49.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday. Jefferies Group cut shares of Snyder's-Lance from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Tuesday, February 6th. Finally, Deutsche Bank set a $50.00 price objective on shares of Snyder's-Lance and gave the company a “buy” rating in a report on Friday, December 15th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $47.00.
Snyder's-Lance (NASDAQ:LNCE) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.07). The firm had revenue of $551.56 million for the quarter, compared to analyst estimates of $562.45 million. Snyder's-Lance had a net margin of 6.68% and a return on equity of 5.64%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. equities analysts forecast that Snyder's-Lance Inc will post 1.27 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Thursday, February 22nd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Wednesday, February 21st. Snyder's-Lance’s dividend payout ratio is currently 42.67%.
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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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