Equities research analysts predict that Snyder's-Lance Inc (NASDAQ:LNCE) will report $563.75 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Snyder's-Lance’s earnings, with the highest sales estimate coming in at $564.50 million and the lowest estimate coming in at $563.00 million. Snyder's-Lance posted sales of $556.16 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.4%. The company is scheduled to announce its next earnings results before the market opens on Tuesday, February 20th.
On average, analysts expect that Snyder's-Lance will report full-year sales of $563.75 million for the current fiscal year. For the next fiscal year, analysts anticipate that the business will post sales of $2.23 billion per share, with estimates ranging from $2.19 billion to $2.27 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Snyder's-Lance.
LNCE has been the subject of several recent analyst reports. Deutsche Bank set a $50.00 target price on shares of Snyder's-Lance and gave the company a “buy” rating in a research note on Friday, December 15th. Zacks Investment Research upgraded shares of Snyder's-Lance from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Wednesday, October 18th. SunTrust Banks raised their target price on shares of Snyder's-Lance to $50.00 and gave the company a “hold” rating in a research note on Tuesday, December 19th. TheStreet downgraded shares of Snyder's-Lance from a “b” rating to a “c+” rating in a research note on Tuesday, November 7th. Finally, BMO Capital Markets downgraded shares of Snyder's-Lance from an “outperform” rating to a “market perform” rating and set a $43.00 target price for the company. in a research note on Monday, December 18th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Snyder's-Lance currently has an average rating of “Hold” and a consensus price target of $45.83.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Thursday, February 22nd will be issued a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.28%. Snyder's-Lance’s dividend payout ratio is currently -123.08%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its holdings in shares of Snyder's-Lance by 17.9% in the second quarter. PNC Financial Services Group Inc. now owns 3,060 shares of the company’s stock worth $107,000 after buying an additional 465 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Snyder's-Lance by 5.3% in the second quarter. Public Employees Retirement System of Ohio now owns 4,272 shares of the company’s stock worth $148,000 after buying an additional 214 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Snyder's-Lance by 235.7% in the third quarter. Envestnet Asset Management Inc. now owns 4,246 shares of the company’s stock worth $162,000 after buying an additional 2,981 shares during the last quarter. Prospera Financial Services Inc purchased a new position in shares of Snyder's-Lance in the fourth quarter worth $200,000. Finally, Shelton Capital Management purchased a new position in shares of Snyder's-Lance in the third quarter worth $204,000. 64.23% of the stock is owned by institutional investors and hedge funds.
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Snyder's-Lance Company Profile
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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