Insider Selling: Snyder's-Lance Inc (LNCE) Director Sells $519,696.04 in Stock
Snyder's-Lance Inc (NASDAQ:LNCE) Director James W. Johnston sold 10,396 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $49.99, for a total transaction of $519,696.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Snyder's-Lance Inc (NASDAQ:LNCE) opened at $49.97 on Friday. The company has a market cap of $4,916.34, a P/E ratio of 47.13, a PEG ratio of 3.28 and a beta of 0.62. Snyder's-Lance Inc has a one year low of $31.03 and a one year high of $50.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.61.
Snyder's-Lance (NASDAQ:LNCE) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The firm had revenue of $551.56 million for the quarter, compared to analyst estimates of $562.45 million. Snyder's-Lance had a return on equity of 5.53% and a net margin of 6.68%. Snyder's-Lance’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 EPS. research analysts forecast that Snyder's-Lance Inc will post 1.27 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of LNCE. Carillon Tower Advisers Inc. acquired a new stake in shares of Snyder's-Lance during the 4th quarter worth approximately $59,993,000. Water Island Capital LLC acquired a new stake in shares of Snyder's-Lance during the 4th quarter worth approximately $12,134,000. BlackRock Inc. grew its stake in shares of Snyder's-Lance by 2.6% during the 4th quarter. BlackRock Inc. now owns 8,931,466 shares of the company’s stock worth $447,287,000 after purchasing an additional 223,983 shares during the period. Pentwater Capital Management LP acquired a new stake in Snyder's-Lance in the 4th quarter valued at $9,064,000. Finally, Dimensional Fund Advisors LP grew its stake in Snyder's-Lance by 5.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,491,528 shares of the company’s stock valued at $133,166,000 after acquiring an additional 168,643 shares during the period. 61.22% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the stock. BidaskClub lowered shares of Snyder's-Lance from a “buy” rating to a “hold” rating in a research report on Wednesday, January 24th. SunTrust Banks raised their price target on shares of Snyder's-Lance to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, December 19th. BMO Capital Markets raised their price target on shares of Snyder's-Lance from $49.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, March 1st. Jefferies Group lowered shares of Snyder's-Lance from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Tuesday, February 6th. Finally, Deutsche Bank set a $50.00 price objective on shares of Snyder's-Lance and gave the stock a “buy” rating in a research note on Friday, December 15th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Snyder's-Lance has an average rating of “Hold” and a consensus price target of $47.00.
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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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