On Wednesday, February 15 the stock rating was initiated by Deutsche Bank with "Buy". ( CPB ) has agreed to acquire Snyder's-Lance Inc. Finally, UBS dropped their target price on shares of Snyder's-Lance from $39.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, November 8th.
The acquisition of Snyder's-Lance will accelerate Campbell's strategy and is in line with our goal, 'real food that matters for life's moments.' It will provide our consumers with an even greater variety of better-for-you snacks. Snyder's-Lance, Inc. (NASDAQ:LNCE) has risen 22.79% since December 16, 2016 and is uptrending. Snyder's-Lance presently has an average rating of "Hold" and a consensus price target of $42.33.
Shares of Snyder's-Lance Inc (NASDAQ:LNCE) opened at $46.79 on Monday. The 1-year high was reported on Dec, 16 by Barchart.com. Its up 0.53, from 1.11 in 2017Q1. The company has a market capitalization of $4,559.92, a P/E ratio of 42.15 and a beta of 0.71. (NASDAQ:LNCE). Ny State Common Retirement Fund holds 0% of its portfolio in Snyder's-Lance, Inc. After $0.33 actual EPS reported by Snyder's-Lance, Inc. for the previous quarter, Wall Street now forecasts 21.21 % EPS growth. More interesting news about Snyder's-Lance, Inc. The firm had revenue of $564.20 million for the quarter, compared to the consensus estimate of $559.86 million.
Campbell expects the acquisition to be accretive to its earnings per share in fiscal 2019.
Campbell and the rest of the 10 largest packaged-food companies in the USA have seen about $16 billion in revenue evaporate over the past three years.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 28th. Shareholders of record on Monday, November 20th were issued a $0.16 dividend. "(LNCE) Ex-Dividend Date Scheduled for November 17, 2017" on November 16, 2017. This represents a $0.64 annualized dividend and a yield of 1.37%. Snyder's-Lance's dividend payout ratio is -123.08%.
Google to take action against websites spreading fake news
But the search giant has admitted that Russian agents used its platforms, including YouTube and Google News, to spread propaganda. Websites are required to meet broad criteria to make an appearance in Google News results.
Want to see what other hedge funds are holding LNCE? Oak Ridge Limited Com invested 1.2% of its portfolio in Snyder's-Lance, Inc. The fund bought 6,771 shares of the company's stock, valued at approximately $258,000. Capital Fund Mgmt has invested 0.01% in Snyder's-Lance, Inc. Goldman Sachs Group Inc. now owns 4,165,505 shares of the company's stock worth $144,210,000 after purchasing an additional 2,166,488 shares in the last quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. About 3.63M shares traded or 685.37% up from the average. AHL Partners LLP purchased a new position in Snyder's-Lance during the 2nd quarter valued at about $3,881,000. The Mesirow Financial Investment Management Us Value Equity holds 18,840 shares with $1.04M value, down from 24,760 last quarter. Oppenheimer Asset has 0.01% invested in PTC Inc. ET AL raised its holdings in Snyder's-Lance by 0.7% in the 2nd quarter. Falcon Point Ltd Liability Company invested 1.26% in Snyder's-Lance, Inc. The company's institutional ownership is monitored at 66.6 percent.
TRADEMARK VIOLATION WARNING: This story was published by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & worldwide copyright and trademark laws.
Campbell Soup Co. is hoping a deeper push into salty snacks can help end a prolonged sales slump. We look forward to welcoming Snyder's-Lance's employees and their trusted family of leading brands to our company.
The division led by president Luca Mignini, will combine Snyder's-Lance's portfolio with Campbell's snacking brands including Goldfish crackers, Tim Tam biscuits, Milano cookies and Kjeldsens butter cookies.