Teachers Retirement System of The State of Kentucky reduced its stake in shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 4.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,455 shares of the company’s stock after selling 700 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Snyder’s-Lance were worth $570,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. M&T Bank Corp increased its stake in Snyder’s-Lance by 0.4% during the second quarter. M&T Bank Corp now owns 7,808 shares of the company’s stock worth $270,000 after acquiring an additional 28 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in Snyder’s-Lance by 0.4% during the first quarter. Oppenheimer & Co. Inc. now owns 16,635 shares of the company’s stock worth $671,000 after acquiring an additional 65 shares during the last quarter. Atria Investments LLC increased its stake in Snyder’s-Lance by 1.1% during the second quarter. Atria Investments LLC now owns 6,193 shares of the company’s stock worth $214,000 after acquiring an additional 65 shares during the last quarter. Capstone Asset Management Co. increased its stake in Snyder’s-Lance by 1.6% during the second quarter. Capstone Asset Management Co. now owns 5,841 shares of the company’s stock worth $202,000 after acquiring an additional 90 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Snyder’s-Lance by 2.1% during the second quarter. Teacher Retirement System of Texas now owns 6,165 shares of the company’s stock worth $213,000 after acquiring an additional 129 shares during the last quarter. 66.22% of the stock is currently owned by institutional investors.

Snyder’s-Lance, Inc. (NASDAQ:LNCE) opened at 38.85 on Wednesday. Snyder’s-Lance, Inc. has a 12 month low of $31.03 and a 12 month high of $40.85. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 105.57 and a beta of 0.71. The firm’s 50 day moving average price is $37.17 and its 200 day moving average price is $36.48.

Snyder’s-Lance (NASDAQ:LNCE) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The business had revenue of $579.60 million during the quarter, compared to the consensus estimate of $565.66 million. Snyder’s-Lance had a net margin of 1.60% and a return on equity of 5.34%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS. On average, equities research analysts predict that Snyder’s-Lance, Inc. will post $1.15 EPS for the current fiscal year.

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In other news, Director Patricia A. Warehime purchased 21,263 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was acquired at an average price of $37.25 per share, for a total transaction of $792,046.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Isaiah Tidwell sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $37.35, for a total transaction of $56,025.00. The disclosure for this sale can be found here. 13.70% of the stock is owned by company insiders.

Several brokerages have weighed in on LNCE. Zacks Investment Research raised Snyder’s-Lance from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Wednesday. UBS AG reissued a “neutral” rating and set a $39.00 price objective (up from $35.00) on shares of Snyder’s-Lance in a research note on Thursday, August 10th. TheStreet raised Snyder’s-Lance from a “c+” rating to a “b” rating in a research note on Tuesday, August 8th. BMO Capital Markets reissued an “outperform” rating and set a $43.00 price objective (up from $38.00) on shares of Snyder’s-Lance in a research note on Wednesday, August 9th. Finally, BidaskClub cut Snyder’s-Lance from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $40.50.

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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