Economy

Snyder's-Lance Inc (LNCE) Shares Bought by Schwab Charles Investment Management Inc

Snyder's-Lance Inc (LNCE) Shares Bought by Schwab Charles Investment Management Inc

PNC Financial Services Group Inc. now owns 3,060 shares of the company's stock valued at $107,000 after buying an additional 465 shares in the last quarter. Hedge funds and other institutional investors own 64.51% of the company's stock. Falcon Point Ltd Liability Company invested 1.26% in Snyder's-Lance, Inc. King Luther Capital Management Corp owned about 0.10% of Snyder's-Lance worth $3,874,000 at the end of the most recent quarter.

Campbell revealed it intends to fund the acquisition with the help of $6.2 billion debt comprising long, as well as, short term debt. Moreover, Guggenheim Capital Ltd Llc has 0.01% invested in Snyder's-Lance, Inc. (NASDAQ:LNCE) were released by: Fool.com and their article: "Why Snyder's-Lance Inc Shares Tumbled Today" published on April 17, 2017 as well as Seekingalpha.com's news article titled: "Snyder's-Lance: Can New Management Get Out From Under Bungled Acquisition?" with publication date: June 15, 2017.

The all-cash deal is worth $4.87 billion.

Snyder's-Lance, Inc. (NASDAQ:LNCE) stock has entered overbought territory as the 14-day Relative Strength Index reading touched 86.34 after yesterday's close. The company has a quick ratio of 0.99, a current ratio of 1.63 and a debt-to-equity ratio of 0.58.

Snyder's-Lance (NASDAQ:LNCE) last issued its earnings results on Tuesday, November 7th. In August the company reported profits had dropped 79 percent for the second quarter. The firm had revenue of $564.20 million during the quarter, compared to the consensus estimate of $559.86 million. Snyder's-Lance had a negative net margin of 2.22% and a positive return on equity of 5.30%. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. research analysts forecast that Snyder's-Lance will post 1.15 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 28th. (BNCL) stock brought in a $0.65 rise to $16.75. Its up 0.53, from 1.11 in 2017Q1.

More news: Weatherford International PLC (NYSE:WFT) Shares Bought by ETRADE Capital Management LLC

The stock of Snyder's-Lance, Inc.

Several research firms have weighed in on LNCE. Zacks Investment Research upgraded Snyder's-Lance from a "hold" rating to a "buy" rating and set a $44.00 price objective on the stock in a research report on Wednesday, October 18th.

Campbell Soup Co., based in Camden, New Jersey, is paying $50 per share, a 6.8 per cent premium to Snyder's-Lance's closing price Friday. Jefferies maintained the stock with "Buy" rating in Tuesday, June 27 report. The company presently has a consensus rating of "Hold" and an average price target of $42.33.

Shares of Snyder's-Lance Inc (NASDAQ:LNCE) traded up $2.37 during trading on Friday, reaching $46.79. If you are accessing this article on another domain, it was illegally copied and republished in violation of United States & worldwide copyright and trademark legislation.

TRADEMARK VIOLATION NOTICE: "6,771 Shares in Snyder's-Lance Inc (LNCE) Acquired by Crossmark Global Holdings Inc." was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. (NASDAQ:LNCE) news were published by: Bizjournals.com which released: "Updated: Snyder's-Lance to lay off 250 employees, shutter Florida plant" on July 25, 2017, also Nasdaq.com with their article: "Snyder's-Lance, Inc".


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