Snyder's-Lance Inc (LNCE) Downgraded by BidaskClub to “Buy”
Snyder's-Lance Inc (NASDAQ:LNCE) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.
Other analysts have also issued reports about the company. SunTrust Banks, Inc. lowered Snyder's-Lance from a “buy” rating to a “hold” rating and reduced their target price for the stock from $45.00 to $30.00 in a report on Monday, April 17th. BMO Capital Markets reissued a “buy” rating and set a $38.00 target price on shares of Snyder's-Lance in a report on Tuesday. Jefferies Group LLC reissued a “buy” rating and set a $44.00 target price on shares of Snyder's-Lance in a report on Wednesday, April 26th. Finally, Zacks Investment Research raised Snyder's-Lance from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $39.40.
Shares of Snyder's-Lance (NASDAQ:LNCE) traded down 2.81% on Friday, reaching $35.64. The company had a trading volume of 1,396,261 shares. Snyder's-Lance has a 52-week low of $31.03 and a 52-week high of $40.85. The company’s 50-day moving average price is $36.28 and its 200-day moving average price is $37.95. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 67.76 and a beta of 0.67.
Snyder's-Lance (NASDAQ:LNCE) last released its earnings results on Monday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.01. The company had revenue of $531.50 million for the quarter, compared to analyst estimates of $529.53 million. Snyder's-Lance had a return on equity of 2.41% and a net margin of 2.13%. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. On average, analysts predict that Snyder's-Lance will post $1.11 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Thursday, May 18th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, May 16th. Snyder's-Lance’s dividend payout ratio (DPR) is currently 123.08%.
In related news, Director Peter P. Brubaker bought 1,000 shares of Snyder's-Lance stock in a transaction dated Friday, May 26th. The shares were bought at an average cost of $37.10 per share, with a total value of $37,100.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 13.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. State Street Corp increased its stake in shares of Snyder's-Lance by 1.4% in the fourth quarter. State Street Corp now owns 2,572,785 shares of the company’s stock valued at $98,643,000 after buying an additional 35,827 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of Snyder's-Lance during the fourth quarter valued at $234,000. Baird Financial Group Inc. acquired a new stake in shares of Snyder's-Lance during the fourth quarter valued at $602,000. Employees Retirement System of Texas increased its stake in shares of Snyder's-Lance by 43.0% in the fourth quarter. Employees Retirement System of Texas now owns 143,000 shares of the company’s stock valued at $5,483,000 after buying an additional 43,000 shares in the last quarter. Finally, Flinton Capital Management LLC acquired a new stake in shares of Snyder's-Lance during the fourth quarter valued at $229,000. Institutional investors and hedge funds own 65.11% of the company’s stock.
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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