Creative Planning Purchases 1,663 Shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE)
Creative Planning boosted its stake in shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 68.7% during the second quarter, Holdings Channel reports. The firm owned 4,083 shares of the company’s stock after buying an additional 1,663 shares during the period. Creative Planning’s holdings in Snyder’s-Lance were worth $141,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of LNCE. Meadow Creek Investment Management LLC raised its position in Snyder’s-Lance by 21.6% in the first quarter. Meadow Creek Investment Management LLC now owns 3,424 shares of the company’s stock valued at $138,000 after buying an additional 608 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Snyder’s-Lance by 3.4% in the first quarter. Public Employees Retirement System of Ohio now owns 4,058 shares of the company’s stock worth $164,000 after buying an additional 132 shares in the last quarter. Neuburgh Advisers LLC boosted its stake in Snyder’s-Lance by 21.6% in the first quarter. Neuburgh Advisers LLC now owns 4,708 shares of the company’s stock worth $190,000 after buying an additional 836 shares in the last quarter. BlueCrest Capital Management Ltd bought a new stake in Snyder’s-Lance during the first quarter worth about $201,000. Finally, Capstone Asset Management Co. boosted its stake in Snyder’s-Lance by 1.6% in the second quarter. Capstone Asset Management Co. now owns 5,841 shares of the company’s stock worth $202,000 after buying an additional 90 shares in the last quarter. 63.88% of the stock is owned by hedge funds and other institutional investors.
Snyder’s-Lance, Inc. (NASDAQ:LNCE) traded up 1.01% during midday trading on Friday, reaching $37.10. 499,172 shares of the company were exchanged. The company has a 50 day moving average of $35.32 and a 200-day moving average of $37.20. Snyder’s-Lance, Inc. has a 52-week low of $31.03 and a 52-week high of $40.85. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 100.82 and a beta of 0.71.
Snyder’s-Lance (NASDAQ:LNCE) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The firm had revenue of $579.60 million during the quarter, compared to analysts’ expectations of $565.66 million. Snyder’s-Lance had a return on equity of 5.34% and a net margin of 1.60%. Snyder’s-Lance’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. On average, equities research analysts anticipate that Snyder’s-Lance, Inc. will post $1.13 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Tuesday, August 22nd will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.73%. The ex-dividend date is Friday, August 18th. Snyder’s-Lance’s payout ratio is 177.78%.
A number of equities research analysts recently issued reports on the stock. SunTrust Banks, Inc. cut shares of Snyder’s-Lance from a “buy” rating to a “hold” rating and dropped their price target for the company from $45.00 to $30.00 in a research note on Monday, April 17th. BidaskClub cut shares of Snyder’s-Lance from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised shares of Snyder’s-Lance from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 20th. BMO Capital Markets reissued a “buy” rating and issued a $38.00 price target on shares of Snyder’s-Lance in a research note on Tuesday, June 13th. Finally, UBS AG reissued a “neutral” rating and issued a $35.00 price target (down previously from $37.00) on shares of Snyder’s-Lance in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $39.80.
In other Snyder’s-Lance news, Director Peter P. Brubaker acquired 1,000 shares of the business’s stock in a transaction on Friday, May 26th. The stock was purchased at an average price 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 is accessible through this link. Corporate insiders own 13.70% 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.
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.