Traders Sell Snyder's-Lance (LNCE) on Strength (LNCE)
Traders sold shares of Snyder's-Lance Inc (NASDAQ:LNCE) on strength during trading hours on Tuesday. $14.55 million flowed into the stock on the tick-up and $55.26 million flowed out of the stock on the tick-down, for a money net flow of $40.71 million out of the stock. Of all stocks tracked, Snyder's-Lance had the 0th highest net out-flow for the day. Snyder's-Lance traded up $0.05 for the day and closed at $50.09
Several equities analysts recently commented on LNCE shares. Deutsche Bank set a $50.00 target price on Snyder's-Lance and gave the stock a “buy” rating in a research report on Friday, December 15th. BidaskClub upgraded Snyder's-Lance from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded Snyder's-Lance from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Wednesday, October 18th. TheStreet downgraded Snyder's-Lance from a “b” rating to a “c+” rating in a research report on Tuesday, November 7th. Finally, SunTrust Banks raised their target price on Snyder's-Lance to $50.00 and gave the stock a “hold” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $44.83.
The company has a current ratio of 1.63, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58. The firm has a market cap of $4,870.63, a PE ratio of 45.13 and a beta of 0.71.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 28th. Shareholders of record on Monday, November 20th were given a $0.16 dividend. The ex-dividend date was Friday, November 17th. This represents a $0.64 annualized dividend and a yield of 1.28%. Snyder's-Lance’s payout ratio is -123.08%.
Institutional investors and hedge funds have recently modified their holdings of the business. FNY Partners Fund LP bought a new position in Snyder's-Lance in the 2nd quarter valued at $103,000. PNC Financial Services Group Inc. increased its stake 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 period. Public Employees Retirement System of Ohio increased its stake 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 period. US Bancorp DE increased its stake 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 period. Finally, Envestnet Asset Management Inc. increased its stake 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 period. Hedge funds and other institutional investors own 64.51% of the company’s stock.
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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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