Chicago Equity Partners LLC Acquires New Stake in Snyder’s-Lance, Inc. (LNCE)
Chicago Equity Partners LLC acquired a new position in Snyder’s-Lance, Inc. (NASDAQ:LNCE) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 62,250 shares of the company’s stock, valued at approximately $2,374,000. Chicago Equity Partners LLC owned about 0.06% of Snyder’s-Lance at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. boosted its stake in Snyder’s-Lance by 1.7% in the second quarter. BlackRock Inc. now owns 8,665,893 shares of the company’s stock worth $300,013,000 after buying an additional 145,840 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Snyder’s-Lance by 108.4% in 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. State Street Corp boosted its stake in Snyder’s-Lance by 5.7% in the second quarter. State Street Corp now owns 2,805,872 shares of the company’s stock worth $97,137,000 after buying an additional 150,943 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Snyder’s-Lance by 0.7% in the second quarter. Gamco Investors INC. ET AL now owns 2,429,375 shares of the company’s stock worth $84,105,000 after buying an additional 16,200 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its stake in Snyder’s-Lance by 10.0% in the second quarter. Eagle Asset Management Inc. now owns 2,249,310 shares of the company’s stock worth $77,871,000 after buying an additional 205,035 shares in the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.
WARNING: This piece of content was originally published by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this piece of content can be viewed at https://www.watchlistnews.com/chicago-equity-partners-llc-acquires-new-stake-in-snyders-lance-inc-lnce/1697928.html.
Several analysts have issued reports on the company. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $35.00 target price on shares of Snyder’s-Lance in a research note on Friday. Zacks Investment Research lowered Snyder’s-Lance from a “buy” rating to a “hold” rating in a research note on Friday. TheStreet lowered Snyder’s-Lance from a “b” rating to a “c+” rating in a research note on Tuesday, November 7th. UBS AG cut their target price on Snyder’s-Lance from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $43.00 target price (up previously from $38.00) on shares of Snyder’s-Lance in a research note on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Snyder’s-Lance has an average rating of “Hold” and a consensus target price of $41.17.
In related news, Director Patricia A. Warehime acquired 18,839 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average price of $37.24 per share, with a total value of $701,564.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patricia A. Warehime acquired 21,263 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were bought at an average cost of $37.25 per share, with a total value of $792,046.75. The disclosure for this purchase can be found here. Corporate insiders own 13.70% of the company’s stock.
Shares of Snyder’s-Lance, Inc. (NASDAQ LNCE) opened at $35.48 on Friday. The firm has a market capitalization of $3,457.70, a P/E ratio of 31.96 and a beta of 0.71. Snyder’s-Lance, Inc. has a 52 week low of $31.03 and a 52 week high of $40.85. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 1.63.
Snyder’s-Lance (NASDAQ:LNCE) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The company had revenue of $564.20 million for the quarter, compared to analysts’ expectations of $559.86 million. Snyder’s-Lance had a negative net margin of 2.22% and a positive return on equity of 5.30%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.35 EPS. sell-side analysts forecast that Snyder’s-Lance, Inc. will post 1.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Monday, November 20th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Friday, November 17th. Snyder’s-Lance’s dividend payout ratio (DPR) is presently -123.08%.
Snyder’s-Lance Company Profile
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.
Want to see what other hedge funds are holding LNCE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snyder’s-Lance, Inc. (NASDAQ:LNCE).
Receive News & Ratings for Snyder's-Lance Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snyder's-Lance Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.