Snyder's-Lance Inc (NASDAQ:LNCE) issued its quarterly earnings results on Monday. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by $0.01. Snyder's-Lance had a return on equity of 5.70% and a net margin of 0.67%. The business had revenue of $531.50 million for the quarter, compared to the consensus estimate of $529.53 million. During the same period last year, the firm earned $0.25 earnings per share. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. Snyder's-Lance updated its FY17 guidance to $1.05-1.20 EPS.
Shares of Snyder's-Lance (NASDAQ:LNCE) traded down 0.19% on Friday, hitting $36.47. 564,996 shares of the company’s stock were exchanged. The firm has a market cap of $3.52 billion, a P/E ratio of 69.33 and a beta of 0.63. Snyder's-Lance has a 12 month low of $29.61 and a 12 month high of $40.85. The stock’s 50 day moving average is $36.50 and its 200 day moving average is $37.91.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Thursday, May 18th will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, May 16th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.75%. Snyder's-Lance’s payout ratio is presently 711.11%.
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A number of hedge funds and other institutional investors have recently made changes to their positions in LNCE. Advisor Group Inc. boosted its position in shares of Snyder's-Lance by 25.4% in the third quarter. Advisor Group Inc. now owns 4,143 shares of the company’s stock worth $138,000 after buying an additional 838 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of Snyder's-Lance by 21.6% in the first quarter. Meadow Creek Investment Management LLC now owns 3,424 shares of the company’s stock worth $138,000 after buying an additional 608 shares in the last quarter. Tyers Asset Management LLC acquired a new position in shares of Snyder's-Lance during the fourth quarter worth approximately $189,000. Neuburgh Advisers LLC boosted its position in shares of Snyder's-Lance by 21.6% in the first quarter. Neuburgh Advisers LLC now owns 4,708 shares of the company’s stock worth $190,000 after buying an additional 836 shares in the last quarter. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Snyder's-Lance during the first quarter worth approximately $201,000. Hedge funds and other institutional investors own 60.85% of the company’s stock.
Several research firms have recently weighed in on LNCE. SunTrust Banks, Inc. lowered shares of Snyder's-Lance from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $45.00 to $30.00 in a research note on Monday, April 17th. Zacks Investment Research lowered shares of Snyder's-Lance from a “hold” rating to a “sell” rating in a research note on Wednesday, February 8th. BMO Capital Markets reiterated a “buy” rating on shares of Snyder's-Lance in a research note on Wednesday, February 8th. Deutsche Bank AG started coverage on shares of Snyder's-Lance in a research note on Wednesday, February 15th. They issued a “buy” rating and a $43.00 price target on the stock. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $44.00 price target on shares of Snyder's-Lance in a research note on Wednesday, April 26th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Snyder's-Lance presently has a consensus rating of “Buy” and a consensus price target of $35.21.
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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