Prudential PLC Has $6.95 Million Stake in Snyder’s-Lance, Inc. (LNCE)
Prudential PLC lifted its holdings in shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 33.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 200,660 shares of the company’s stock after buying an additional 50,000 shares during the period. Prudential PLC owned approximately 0.21% of Snyder’s-Lance worth $6,947,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada boosted its position in shares of Snyder’s-Lance by 26.6% during the second quarter. Royal Bank of Canada now owns 412,875 shares of the company’s stock worth $14,293,000 after buying an additional 86,662 shares during the period. AHL Partners LLP bought a new stake in Snyder’s-Lance during the second quarter worth approximately $3,881,000. Goldman Sachs Group Inc. raised its holdings in Snyder’s-Lance by 108.4% during the second quarter. Goldman Sachs Group Inc. now owns 4,165,505 shares of the company’s stock worth $144,210,000 after purchasing an additional 2,166,488 shares in the last quarter. UBS Oconnor LLC raised its holdings in Snyder’s-Lance by 58.0% during the second quarter. UBS Oconnor LLC now owns 555,000 shares of the company’s stock worth $19,214,000 after purchasing an additional 203,680 shares in the last quarter. Finally, Sandhill Capital Partners LLC raised its holdings in Snyder’s-Lance by 0.6% during the second quarter. Sandhill Capital Partners LLC now owns 411,321 shares of the company’s stock worth $14,240,000 after purchasing an additional 2,317 shares in the last quarter. Institutional investors and hedge funds own 66.21% of the company’s stock.
Several equities research analysts recently commented on the company. BidaskClub cut Snyder’s-Lance from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BMO Capital Markets reissued a “buy” rating and set a $38.00 target price on shares of Snyder’s-Lance in a report on Tuesday, June 13th. UBS AG reissued a “neutral” rating and set a $35.00 target price (down previously from $37.00) on shares of Snyder’s-Lance in a report on Tuesday, July 18th. Jefferies Group LLC set a $44.00 target price on Snyder’s-Lance and gave the stock a “buy” rating in a report on Saturday, July 29th. Finally, Zacks Investment Research cut Snyder’s-Lance from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Snyder’s-Lance currently has a consensus rating of “Hold” and an average price target of $39.80.
In related news, Director Patricia A. Warehime purchased 21,263 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were acquired at an average cost of $37.25 per share, with a total value of $792,046.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patricia A. Warehime purchased 18,839 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were bought at an average cost of $37.24 per share, for a total transaction of $701,564.36. The disclosure for this purchase can be found here. 13.70% of the stock is owned by corporate insiders.
Shares of Snyder’s-Lance, Inc. (LNCE) opened at 38.79 on Friday. The company’s 50-day moving average price is $36.89 and its 200 day moving average price is $36.57. Snyder’s-Lance, Inc. has a one year low of $31.03 and a one year high of $40.85. The company has a market cap of $3.75 billion, a PE ratio of 105.41 and a beta of 0.71.
Snyder’s-Lance (NASDAQ:LNCE) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. Snyder’s-Lance had a net margin of 1.60% and a return on equity of 5.34%. The business had revenue of $579.60 million for the quarter, compared to analysts’ expectations of $565.66 million. During the same period in the prior year, the firm earned $0.28 earnings per share. Snyder’s-Lance’s revenue was up 3.3% compared to the same quarter last year. Equities analysts forecast that Snyder’s-Lance, Inc. will post $1.15 EPS for the current fiscal year.
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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.
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