Pacer Advisors Inc. boosted its position in Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 9.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,384 shares of the company’s stock after buying an additional 708 shares during the period. Pacer Advisors Inc.’s holdings in Snyder’s-Lance were worth $282,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in LNCE. BlackRock Inc. increased its stake in Snyder’s-Lance by 61.0% in the second quarter. BlackRock Inc. now owns 48,178 shares of the company’s stock worth $1,633,000 after buying an additional 18,245 shares during the last quarter. BlackRock Investment Management LLC increased its stake in Snyder’s-Lance by 18.2% in the second quarter. BlackRock Investment Management LLC now owns 526,431 shares of the company’s stock worth $17,841,000 after buying an additional 81,062 shares during the last quarter. BlackRock Advisors LLC increased its stake in Snyder’s-Lance by 14.5% in the second quarter. BlackRock Advisors LLC now owns 36,620 shares of the company’s stock worth $1,241,000 after buying an additional 4,639 shares during the last quarter. Vanguard Group Inc. increased its stake in Snyder’s-Lance by 9.7% in the second quarter. Vanguard Group Inc. now owns 5,772,887 shares of the company’s stock worth $195,643,000 after buying an additional 508,436 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Snyder’s-Lance by 13.9% in the second quarter. Principal Financial Group Inc. now owns 297,067 shares of the company’s stock worth $10,068,000 after buying an additional 36,234 shares during the last quarter. Institutional investors own 60.68% of the company’s stock.
Shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) traded down 0.34% during mid-day trading on Friday, reaching $38.20. The company’s stock had a trading volume of 206,211 shares. The company has a market cap of $3.67 billion, a PE ratio of 107.00 and a beta of 0.62. Snyder’s-Lance, Inc. has a 52-week low of $27.93 and a 52-week high of $39.10. The company has a 50-day moving average price of $38.27 and a 200 day moving average price of $36.02.
Snyder’s-Lance (NASDAQ:LNCE) last released its earnings results on Monday, November 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.05. Snyder’s-Lance had a return on equity of 6.11% and a net margin of 1.48%. The firm earned $588.80 million during the quarter, compared to analysts’ expectations of $611.98 million. During the same quarter last year, the business posted $0.26 earnings per share. The firm’s revenue was up 41.3% on a year-over-year basis. Equities analysts expect that Snyder’s-Lance, Inc. will post $1.28 earnings per share for the current year.
A number of analysts recently weighed in on the company. Zacks Investment Research downgraded Snyder’s-Lance from a “hold” rating to a “sell” rating in a research report on Thursday, January 12th. BMO Capital Markets restated a “buy” rating on shares of Snyder’s-Lance in a research report on Tuesday, November 8th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $35.00 target price on shares of Snyder’s-Lance in a research report on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $33.85.
In other Snyder’s-Lance news, Director Brian J. Driscoll sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $36.25, for a total transaction of $181,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company 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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