Eagle Asset Management Inc. lifted its position in Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,312,214 shares of the company’s stock after purchasing an additional 62,904 shares during the period. Eagle Asset Management Inc. owned about 2.39% of Snyder’s-Lance worth $89,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. TD Asset Management Inc. increased its stake in shares of Snyder’s-Lance by 11.0% in the third quarter. TD Asset Management Inc. now owns 32,200 shares of the company’s stock worth $1,228,000 after purchasing an additional 3,200 shares in the last quarter. Van Hulzen Asset Management LLC purchased a new stake in shares of Snyder’s-Lance in the third quarter worth $440,000. American International Group Inc. increased its stake in shares of Snyder’s-Lance by 1.9% in the third quarter. American International Group Inc. now owns 231,682 shares of the company’s stock worth $8,836,000 after purchasing an additional 4,284 shares in the last quarter. Olstein Capital Management L.P. purchased a new stake in shares of Snyder’s-Lance in the third quarter worth $1,367,000. Finally, Capital Management Associates NY increased its stake in shares of Snyder’s-Lance by 11.6% in the third quarter. Capital Management Associates NY now owns 34,850 shares of the company’s stock worth $1,329,000 after purchasing an additional 3,630 shares in the last quarter. 65.83% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on the stock. TheStreet raised shares of Snyder’s-Lance from a “c+” rating to a “b” rating in a research note on Tuesday, August 8th. BidaskClub cut shares of Snyder’s-Lance from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. UBS AG reaffirmed a “neutral” rating and set a $39.00 target price (up from $35.00) on shares of Snyder’s-Lance in a research note on Thursday, August 10th. BMO Capital Markets reaffirmed an “outperform” rating and set a $43.00 target price (up from $38.00) on shares of Snyder’s-Lance in a research note on Wednesday, August 9th. Finally, SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $35.00 target price on shares of Snyder’s-Lance in a research note on Friday, November 10th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $41.17.

Snyder’s-Lance, Inc. (NASDAQ:LNCE) opened at $36.59 on Friday. 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 cap of $3,565.88, a price-to-earnings ratio of 32.96 and a beta of 0.71. The company has a quick ratio of 0.99, a current ratio of 1.63 and a debt-to-equity ratio of 0.58.

Snyder’s-Lance (NASDAQ:LNCE) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $564.20 million during the quarter, compared to analysts’ expectations of $559.86 million. During the same period in the previous year, the business earned $0.35 earnings per share. The business’s quarterly revenue was up 3.7% on a year-over-year basis. sell-side analysts anticipate that Snyder’s-Lance, Inc. will post 1.14 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Monday, November 20th will be paid a $0.16 dividend. The ex-dividend date is Friday, November 17th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.75%. Snyder’s-Lance’s payout ratio is currently -123.08%.

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About Snyder’s-Lance

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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Institutional Ownership by Quarter for Snyder`s-Lance (NASDAQ:LNCE)

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