Metropolitan Life Insurance Co. NY cut its stake in shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 130,776 shares of the company’s stock after selling 2,993 shares during the period. Metropolitan Life Insurance Co. NY owned 0.14% of Snyder’s-Lance worth $5,272,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System boosted its position in shares of Snyder’s-Lance by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 21,600 shares of the company’s stock valued at $871,000 after buying an additional 400 shares during the last quarter. Torch Wealth Management LLC boosted its position in Snyder’s-Lance by 1.5% in the first quarter. Torch Wealth Management LLC now owns 40,700 shares of the company’s stock worth $1,641,000 after buying an additional 600 shares during the last quarter. Atria Investments LLC boosted its position in Snyder’s-Lance by 1.8% in the first quarter. Atria Investments LLC now owns 6,128 shares of the company’s stock worth $247,000 after buying an additional 109 shares during the last quarter. Parametrica Management Ltd acquired a new position in Snyder’s-Lance during the first quarter worth approximately $220,000. Finally, Capstone Asset Management Co. boosted its position in Snyder’s-Lance by 1.6% in the first quarter. Capstone Asset Management Co. now owns 5,751 shares of the company’s stock worth $232,000 after buying an additional 90 shares during the last quarter. 65.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Snyder’s-Lance, Inc. (LNCE) traded down 0.28% on Friday, hitting $35.52. 397,380 shares of the stock traded hands. The firm has a market cap of $3.43 billion, a P/E ratio of 67.53 and a beta of 0.71. Snyder’s-Lance, Inc. has a 52 week low of $31.03 and a 52 week high of $40.85. The stock has a 50-day moving average price of $35.47 and a 200 day moving average price of $37.36.
Snyder’s-Lance (NASDAQ:LNCE) last issued its earnings results on Monday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Snyder’s-Lance had a return on equity of 5.36% and a net margin of 2.25%. The business had revenue of $531.50 million for the quarter, compared to the consensus estimate of $529.53 million. During the same quarter in the previous year, the company earned $0.25 earnings per share. The firm’s revenue was up 18.7% on a year-over-year basis. Equities research analysts predict that Snyder’s-Lance, Inc. will post $1.10 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on the company. Jefferies Group LLC set a $44.00 price objective on Snyder’s-Lance and gave the stock a “buy” rating in a report on Saturday. UBS AG reiterated a “neutral” rating and issued a $35.00 price target (down from $37.00) on shares of Snyder’s-Lance in a research report on Tuesday, July 18th. Zacks Investment Research downgraded shares of Snyder’s-Lance from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. BidaskClub downgraded shares of Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $38.00 price target on shares of Snyder’s-Lance in a research report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $38.67.
In related news, Director Peter P. Brubaker bought 1,000 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was bought at an average cost of $37.10 per share, for a total transaction of $37,100.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 13.70% of the stock is currently owned by company insiders.
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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