Dimensional Fund Advisors LP Reduces Holdings in Snyder’s-Lance, Inc. (LNCE)
Dimensional Fund Advisors LP lowered its position in shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,322,885 shares of the company’s stock after selling 76,114 shares during the period. Dimensional Fund Advisors LP owned about 3.44% of Snyder’s-Lance worth $115,039,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. FNY Partners Fund LP purchased a new stake in shares of Snyder’s-Lance in the 2nd quarter valued at about $103,000. PNC Financial Services Group Inc. grew its stake in Snyder’s-Lance by 17.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,060 shares of the company’s stock worth $107,000 after buying an additional 465 shares during the last quarter. Creative Planning increased its position in Snyder’s-Lance by 68.7% during the second quarter. Creative Planning now owns 4,083 shares of the company’s stock worth $141,000 after buying an additional 1,663 shares during the period. US Bancorp DE increased its position in Snyder’s-Lance by 12.7% during the second quarter. US Bancorp DE now owns 4,553 shares of the company’s stock worth $158,000 after buying an additional 513 shares during the period. Finally, Public Employees Retirement System of Ohio increased its position in Snyder’s-Lance by 3.4% during 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 during the period. Institutional investors and hedge funds own 66.21% of the company’s stock.
Shares of Snyder’s-Lance, Inc. (LNCE) opened at 38.14 on Monday. Snyder’s-Lance, Inc. has a one year low of $31.03 and a one year high of $40.85. The firm has a market capitalization of $3.69 billion, a P/E ratio of 103.64 and a beta of 0.70. The company’s 50 day moving average price is $36.34 and its 200 day moving average price is $36.72.
Snyder’s-Lance (NASDAQ:LNCE) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $579.60 million for 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%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. On average, analysts expect that Snyder’s-Lance, Inc. will post $1.14 EPS for the current fiscal year.
LNCE has been the subject of a number of research reports. BidaskClub cut Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. BMO Capital Markets reiterated an “outperform” rating and issued a $43.00 price target (up previously from $38.00) on shares of Snyder’s-Lance in a research report on Wednesday, August 9th. TheStreet upgraded shares of Snyder’s-Lance from a “c+” rating to a “b” rating in a research note on Tuesday, August 8th. Zacks Investment Research cut shares of Snyder’s-Lance from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, UBS AG reissued a “neutral” rating and set a $39.00 price objective (up from $35.00) on shares of Snyder’s-Lance in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $39.80.
In related news, Director Patricia A. Warehime bought 21,263 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were bought at an average cost of $37.25 per share, for a total transaction of $792,046.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Isaiah Tidwell sold 1,500 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were 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. 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.
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