Geode Capital Management LLC grew its stake in Snyder's-Lance Inc (NASDAQ:LNCE) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 799,237 shares of the company’s stock after acquiring an additional 39,052 shares during the quarter. Geode Capital Management LLC owned about 0.82% of Snyder's-Lance worth $40,025,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Carillon Tower Advisers Inc. acquired a new stake in shares of Snyder's-Lance during the 4th quarter worth about $59,993,000. Kellner Capital LLC acquired a new stake in shares of Snyder's-Lance during the 4th quarter worth about $1,092,000. OppenheimerFunds Inc. increased its position in shares of Snyder's-Lance by 117.3% during the 4th quarter. OppenheimerFunds Inc. now owns 39,155 shares of the company’s stock worth $1,961,000 after purchasing an additional 21,132 shares during the last quarter. First Republic Investment Management Inc. acquired a new stake in shares of Snyder's-Lance during the 4th quarter worth about $560,000. Finally, ARP Americas LP acquired a new stake in shares of Snyder's-Lance during the 4th quarter worth about $3,760,000. 61.22% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on LNCE. BidaskClub downgraded Snyder's-Lance from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 13th. Jefferies Group downgraded Snyder's-Lance from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Tuesday, February 6th. BMO Capital Markets raised their price objective on Snyder's-Lance from $49.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, March 1st. SunTrust Banks raised their price objective on Snyder's-Lance to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, December 19th. Finally, Deutsche Bank set a $50.00 price objective on Snyder's-Lance and gave the stock a “buy” rating in a research report on Friday, December 15th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $47.00.
Snyder's-Lance Inc (NASDAQ:LNCE) opened at $49.96 on Tuesday. The firm has a market capitalization of $4,916.02, a PE ratio of 33.31, a price-to-earnings-growth ratio of 3.18 and a beta of 0.62. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 0.98. Snyder's-Lance Inc has a 52-week low of $31.03 and a 52-week high of $50.67.
Snyder's-Lance (NASDAQ:LNCE) last released its earnings results on Wednesday, February 28th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). The firm had revenue of $551.56 million during the quarter, compared to analyst estimates 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 revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. equities research analysts anticipate that Snyder's-Lance Inc will post 1.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Thursday, February 22nd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Wednesday, February 21st. Snyder's-Lance’s dividend payout ratio is currently 42.67%.
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.
Receive News & Ratings for Snyder's-Lance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snyder's-Lance and related companies with MarketBeat.com's FREE daily email newsletter.