Prudential Financial Inc. increased its position in shares of Snyder’s-Lance Inc. (NASDAQ:LNCE) by 5.6% during the third quarter, Holdings Channel reports. The institutional investor owned 53,622 shares of the company’s stock after buying an additional 2,830 shares during the period. Prudential Financial Inc.’s holdings in Snyder’s-Lance were worth $1,801,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LNCE. Advisor Group Inc. acquired a new position in Snyder’s-Lance during the second quarter valued at approximately $111,000. Public Employees Retirement System of Ohio increased its position in Snyder’s-Lance by 10.8% in the second quarter. Public Employees Retirement System of Ohio now owns 3,435 shares of the company’s stock valued at $116,000 after buying an additional 334 shares during the period. LS Investment Advisors LLC increased its position in Snyder’s-Lance by 76.4% in the second quarter. LS Investment Advisors LLC now owns 4,818 shares of the company’s stock valued at $163,000 after buying an additional 2,087 shares during the period. Private Advisor Group LLC acquired a new position in Snyder’s-Lance during the second quarter valued at approximately $203,000. Finally, Calvert Investment Management Inc. acquired a new position in Snyder’s-Lance during the second quarter valued at approximately $215,000. 60.66% of the stock is owned by hedge funds and other institutional investors.
Snyder’s-Lance Inc. (NASDAQ:LNCE) traded down 2.04% during mid-day trading on Thursday, hitting $38.02. 822,656 shares of the stock traded hands. The company’s 50 day moving average is $38.04 and its 200 day moving average is $35.85. Snyder’s-Lance Inc. has a 12 month low of $27.93 and a 12 month high of $39.10. The company has a market cap of $3.66 billion, a P/E ratio of 106.50 and a beta of 0.62.
Snyder’s-Lance (NASDAQ:LNCE) last announced its earnings results on Monday, November 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.05. The company earned $588.80 million during the quarter, compared to analyst estimates of $611.98 million. Snyder’s-Lance had a net margin of 1.48% and a return on equity of 6.11%. The firm’s quarterly revenue was up 41.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 earnings per share. On average, analysts expect that Snyder’s-Lance Inc. will post $1.28 earnings per share for the current fiscal year.
Several research analysts recently commented on the stock. BMO Capital Markets reaffirmed a “buy” rating on shares of Snyder’s-Lance in a report on Tuesday, November 8th. Zacks Investment Research cut shares of Snyder’s-Lance from a “hold” rating to a “sell” rating in a research note on Thursday, January 12th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $35.00 target price on shares of Snyder’s-Lance in a research note on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Snyder’s-Lance has an average rating of “Buy” and an average target price of $33.85.
In related news, Director Brian J. Driscoll sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $36.25, for a total transaction of $181,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 18.60% of the company’s stock.
Snyder’s-Lance, Inc is a snack food company. The Company operates in the manufacturing, distribution, marketing and sale of snack food products segment. The Company’s products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, nuts, restaurant style crackers and other salty snacks.
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