Wellington Shields Capital Management Lowers stake in Snyder's-Lance Inc (LNCE)

Snyder's-Lance Inc (LNCE) : Wellington Shields Capital Management reduced its stake in Snyder's-Lance Inc by 0.31% during the most recent quarter end. The investment management company now holds a total of 109,952 shares of Snyder's-Lance Inc which is valued at $3,880,206 after selling 337 shares in Snyder's-Lance Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Snyder's-Lance Inc makes up approximately 0.67% of Wellington Shields Capital Management’s portfolio.

Other Hedge Funds, Including , Walleye Trading sold out all of its stake in LNCE during the most recent quarter. The investment firm sold 700 shares of LNCE which is valued $24,703.D’orazio Associates boosted its stake in LNCE in the latest quarter, The investment management firm added 8 additional shares and now holds a total of 1,332 shares of Snyder's-Lance Inc which is valued at $45,661. Snyder's-Lance Inc makes up approx 0.02% of D’orazio Associates’s portfolio. Suffolk Capital Management added LNCE to its portfolio by purchasing 76,478 company shares during the most recent quarter which is valued at $2,727,205. Snyder's-Lance Inc makes up approx 0.33% of Suffolk Capital Management’s portfolio.Louisiana State Employees Retirement System reduced its stake in LNCE by selling 699 shares or 3.19% in the most recent quarter. The Hedge Fund company now holds 21,200 shares of LNCE which is valued at $734,580. Snyder's-Lance Inc makes up approx 0.04% of Louisiana State Employees Retirement System’s portfolio.

Snyder's-Lance Inc closed down -0.39 points or -1.10% at $34.95 with 5,06,701 shares getting traded on Thursday. Post opening the session at $34.98, the shares hit an intraday low of $34.5411 and an intraday high of $35.14 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Snyder's-Lance Inc reported $0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.26. The company had revenue of $609.50 million for the quarter, compared to analysts expectations of $619.90 million. The company’s revenue was up 41.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on Snyder's-Lance Inc. Company shares were Reiterated by DA Davidson on Aug 9, 2016 to “Buy”, Firm has raised the Price Target to $ 42 from a previous price target of $38 .Company shares were Reiterated by Deutsche Bank on Aug 2, 2016 to “Hold”, Firm has raised the Price Target to $ 34 from a previous price target of $31 .Snyder's-Lance Inc was Initiated by KeyBanc Capital Mkts to “Sector Weight” on May 26, 2016.

Snyder’s-Lance Inc. is a national 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 nuts restaurant style crackers and other salty snacks. It purchases certain cake products and sells under its brands. The Company’s brands include core brands such as Snyder’s of Hanover Lance Cape Cod Snack Factory Pretzel Crisps and Late July and allied brands such as Tom’s Archway Jays Stella D’oro EatSmart Krunchers! and O-Ke-Doke. The Company’s Clearview Foods division combines Snack Factory Pretzel Crisps Late July Organic Snacks and EatSmart brands. The Company also sells Partner brand products which consist of other third-party branded products that the Company sells to its independent business owners (IBO) through its direct-store-delivery distribution network (DSD network).

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