Stone Ridge Asset Management LLC acquired a new position in Snyder's-Lance Inc (NASDAQ:LNCE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 35,233 shares of the company’s stock, valued at approximately $1,764,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in LNCE. Carillon Tower Advisers Inc. bought a new stake in shares of Snyder's-Lance during the fourth quarter valued at approximately $59,993,000. Water Island Capital LLC bought a new stake in shares of Snyder's-Lance during the fourth quarter valued at approximately $12,134,000. BlackRock Inc. raised its stake in shares of Snyder's-Lance by 2.6% during the fourth quarter. BlackRock Inc. now owns 8,931,466 shares of the company’s stock valued at $447,287,000 after acquiring an additional 223,983 shares in the last quarter. Pentwater Capital Management LP bought a new stake in shares of Snyder's-Lance during the fourth quarter valued at approximately $9,064,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Snyder's-Lance by 5.1% during the third quarter. Dimensional Fund Advisors LP now owns 3,491,528 shares of the company’s stock valued at $133,166,000 after acquiring an additional 168,643 shares in the last quarter. 61.22% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on the stock. BidaskClub downgraded shares of Snyder's-Lance from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Jefferies Group downgraded shares of Snyder's-Lance from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research note on Tuesday, February 6th. BMO Capital Markets lifted their price target on shares of Snyder's-Lance from $49.00 to $50.00 and gave the company a “market perform” rating in a research note on Thursday, March 1st. SunTrust Banks lifted their price target on shares of Snyder's-Lance to $50.00 and gave the company a “hold” rating in a research note on Tuesday, December 19th. Finally, Deutsche Bank set a $50.00 price target on shares of Snyder's-Lance and gave the company a “buy” rating in a research note on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $47.00.
Snyder's-Lance (NASDAQ:LNCE) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.07). The business had revenue of $551.56 million for the quarter, compared to analysts’ expectations of $562.45 million. Snyder's-Lance had a net margin of 6.68% and a return on equity of 5.53%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 earnings per share. equities analysts predict that Snyder's-Lance Inc will post 1.31 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Thursday, February 22nd were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.28%. The ex-dividend date was Wednesday, February 21st. Snyder's-Lance’s payout ratio is 42.67%.
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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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