Snyder's-Lance (LNCE) Cut to “Market Perform” at BMO Capital Markets
BMO Capital Markets cut shares of Snyder's-Lance (NASDAQ:LNCE) from an outperform rating to a market perform rating in a report published on Monday morning. BMO Capital Markets currently has $43.00 price target on the stock.
LNCE has been the subject of several other reports. Deutsche Bank set a $50.00 price target on shares of Snyder's-Lance and gave the stock a buy rating in a research note on Friday, December 15th. Zacks Investment Research raised shares of Snyder's-Lance from a hold rating to a buy rating and set a $44.00 price target for the company in a research note on Wednesday, October 18th. TheStreet cut shares of Snyder's-Lance from a b rating to a c+ rating in a research note on Tuesday, November 7th. SunTrust Banks reaffirmed a hold rating and set a $35.00 price target on shares of Snyder's-Lance in a research note on Friday, November 10th. Finally, UBS decreased their price target on shares of Snyder's-Lance from $39.00 to $38.00 and set a neutral rating for the company in a research note on Wednesday, November 8th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $44.83.
Snyder's-Lance (NASDAQ:LNCE) opened at $50.12 on Monday. The firm has a market cap of $4,870.63, a P/E ratio of 45.13 and a beta of 0.71. Snyder's-Lance has a 52 week low of $31.03 and a 52 week high of $50.29. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 1.63.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 28th. Stockholders of record on Monday, November 20th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Friday, November 17th. Snyder's-Lance’s payout ratio is presently -123.08%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Partners Fund LP acquired a new stake in shares of Snyder's-Lance in the 2nd quarter valued at approximately $103,000. PNC Financial Services Group Inc. boosted its holdings in shares of Snyder's-Lance by 17.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,060 shares of the company’s stock valued at $107,000 after buying an additional 465 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Snyder's-Lance by 235.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,246 shares of the company’s stock valued at $162,000 after buying an additional 2,981 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Snyder's-Lance by 5.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,272 shares of the company’s stock valued at $148,000 after buying an additional 214 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Snyder's-Lance by 12.7% in the 2nd quarter. US Bancorp DE now owns 4,553 shares of the company’s stock valued at $158,000 after buying an additional 513 shares during the last quarter. 64.51% of the stock is owned by institutional investors.
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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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