Rhumbline Advisers raised its stake in shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,936 shares of the company’s stock after buying an additional 7,314 shares during the period. Rhumbline Advisers owned 0.20% of Snyder’s-Lance worth $6,645,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of LNCE. Teachers Advisors LLC increased its position in shares of Snyder’s-Lance by 3.2% in the fourth quarter. Teachers Advisors LLC now owns 139,697 shares of the company’s stock valued at $5,356,000 after buying an additional 4,299 shares during the period. Capstone Asset Management Co. increased its stake in shares of Snyder’s-Lance by 1.6% in the first quarter. Capstone Asset Management Co. now owns 5,751 shares of the company’s stock valued at $232,000 after buying an additional 90 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Snyder’s-Lance by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 21,600 shares of the company’s stock valued at $871,000 after buying an additional 400 shares during the last quarter. First Citizens Bank & Trust Co. bought a new stake in shares of Snyder’s-Lance during the first quarter valued at about $330,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of Snyder’s-Lance by 6.4% in the first quarter. Janney Montgomery Scott LLC now owns 12,306 shares of the company’s stock valued at $496,000 after buying an additional 739 shares during the last quarter. 66.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Snyder’s-Lance, Inc. (LNCE) opened at 35.96 on Tuesday. The firm has a market cap of $3.48 billion, a P/E ratio of 97.72 and a beta of 0.71. The firm’s 50-day moving average is $35.88 and its 200-day moving average is $37.12. Snyder’s-Lance, Inc. has a 1-year low of $31.03 and a 1-year high of $40.85.

Snyder’s-Lance (NASDAQ:LNCE) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Snyder’s-Lance had a return on equity of 5.34% and a net margin of 1.60%. The firm had revenue of $579.60 million during the quarter, compared to analysts’ expectations of $565.66 million. During the same period in the prior year, the business earned $0.28 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts anticipate that Snyder’s-Lance, Inc. will post $1.14 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Tuesday, August 22nd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Friday, August 18th. Snyder’s-Lance’s payout ratio is currently 177.78%.

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Several brokerages have recently issued reports on LNCE. BMO Capital Markets restated an “outperform” rating and issued a $43.00 price objective (up previously from $38.00) on shares of Snyder’s-Lance in a research note 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. UBS AG restated a “neutral” rating and issued a $39.00 price objective (up previously from $35.00) on shares of Snyder’s-Lance in a research note on Thursday, August 10th. Zacks Investment Research upgraded shares of Snyder’s-Lance from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, BidaskClub downgraded shares of Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $39.80.

In other news, Director Patricia A. Warehime acquired 21,263 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was purchased at an average cost of $37.25 per share, for a total transaction of $792,046.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Patricia A. Warehime acquired 18,839 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average price of $37.24 per share, with a total value of $701,564.36. The disclosure for this purchase can be found here. 13.70% of the stock is currently owned by corporate insiders.

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.

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

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