Capital Management Associates NY Has $1.33 Million Position in Snyder’s-Lance, Inc. (LNCE)
Capital Management Associates NY increased its stake in Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 11.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,850 shares of the company’s stock after acquiring an additional 3,630 shares during the quarter. Snyder’s-Lance makes up about 1.9% of Capital Management Associates NY’s portfolio, making the stock its 3rd biggest holding. Capital Management Associates NY’s holdings in Snyder’s-Lance were worth $1,329,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its holdings in shares of Snyder’s-Lance by 108.4% during the second quarter. Goldman Sachs Group Inc. now owns 4,165,505 shares of the company’s stock worth $144,210,000 after buying an additional 2,166,488 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in Snyder’s-Lance in the second quarter valued at approximately $14,921,000. Fisher Asset Management LLC raised its holdings in Snyder’s-Lance by 110.2% in the second quarter. Fisher Asset Management LLC now owns 784,446 shares of the company’s stock valued at $27,158,000 after acquiring an additional 411,307 shares in the last quarter. FMR LLC raised its holdings in Snyder’s-Lance by 15.4% in the second quarter. FMR LLC now owns 1,917,933 shares of the company’s stock valued at $66,400,000 after acquiring an additional 256,477 shares in the last quarter. Finally, Oak Ridge Investments LLC raised its holdings in Snyder’s-Lance by 30.0% in the second quarter. Oak Ridge Investments LLC now owns 1,087,389 shares of the company’s stock valued at $37,645,000 after acquiring an additional 251,233 shares in the last quarter. 65.95% of the stock is owned by institutional investors.
In related news, Director Patricia A. Warehime purchased 21,263 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average cost of $37.25 per share, with a total value of $792,046.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Isaiah Tidwell sold 1,500 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $37.35, for a total value of $56,025.00. The disclosure for this sale can be found here. 13.70% of the stock is owned by company insiders.
Shares of Snyder’s-Lance, Inc. (LNCE) traded down $0.25 during midday trading on Tuesday, hitting $35.23. The company had a trading volume of 354,400 shares, compared to its average volume of 585,167. The company has a current ratio of 1.63, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58. Snyder’s-Lance, Inc. has a 52-week low of $31.03 and a 52-week high of $40.85. The firm has a market capitalization of $3,457.71, a P/E ratio of 31.96 and a beta of 0.71.
Snyder’s-Lance (NASDAQ:LNCE) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02). Snyder’s-Lance had a positive return on equity of 5.30% and a negative net margin of 2.22%. The company had revenue of $564.20 million for the quarter, compared to analyst estimates of $559.86 million. During the same period in the prior year, the business earned $0.35 earnings per share. Snyder’s-Lance’s revenue for the quarter was up 3.7% compared to the same quarter last year. research analysts expect that Snyder’s-Lance, Inc. will post 1.14 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Monday, November 20th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Friday, November 17th. Snyder’s-Lance’s dividend payout ratio is presently -123.08%.
Several equities analysts have commented on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $43.00 price target (up from $38.00) on shares of Snyder’s-Lance in a research note on Wednesday, August 9th. Zacks Investment Research upgraded shares of Snyder’s-Lance from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Wednesday, October 18th. TheStreet upgraded shares of Snyder’s-Lance from a “c+” rating to a “b” rating in a research note on Tuesday, August 8th. UBS AG reiterated a “neutral” rating and issued a $39.00 price target (up from $35.00) on shares of Snyder’s-Lance in a research note on Thursday, August 10th. Finally, 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $41.17.
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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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