Campbell Soup Will Be The New Owner Of Cape Cod Potato Chips

20 December, 2017, 00:38 | Author: Elaine Woods
  • Campbell's is buying snack maker Snyder's-Lance. Image courtesy of Flickr user ezraw

It is positive, as 27 investors sold Snyder's-Lance, Inc. shares while 42 reduced holdings. (NASDAQ:LNCE). Arizona State Retirement Systems holds 0.02% of its portfolio in Snyder's-Lance, Inc. Hutchin Hill Cap Limited Partnership holds 0.03% in Snyder's-Lance, Inc. (NASDAQ:LNCE). Gotham Asset Mngmt Limited Liability reported 128,022 shares. (NASDAQ:LNCE). Cwm Limited Liability Corp has 9 shares. Texas Permanent School Fund has 0.03% invested in Snyder's-Lance, Inc. (NASDAQ:LNCE). Investment Counselors Of Maryland Ltd holds 0.7% of its portfolio in Snyder's-Lance, Inc. Northern Tru Corporation owns 1.55 million shares. Snyder's-Lance, Inc. (NASDAQ:LNCE) has risen 22.79% since December 19, 2016 and is uptrending. (NASDAQ:LNCE). Carroll Finance Assoc Incorporated holds 3,357 shares or 0.01% of its portfolio. Confluence Investment Limited Company has 0.06% invested in Snyder's-Lance, Inc. BlackRock Inc. boosted its holdings in shares of Snyder's-Lance by 1.7% during the 2nd quarter. (NASDAQ:LNCE). Teton Advsr has 0.83% invested in Snyder's-Lance, Inc. This nets out to a decrease of 810699 shares and is another bearish sign for LNCE.

Additionally, Campbell Soup Company and Snyder's-Lance announced an agreement this week, which has been approved by the Boards of Directors of both companies, and will enable Campbell to expand its portfolio of leading snacking brands. (NYSE:MRK), 15 have Buy rating, 0 Sell and 8 Hold.

BMO Capital cut shares of Snyder's-Lance (NASDAQ:LNCE) stock from a "Outperform" rating to a "Market Perform" rating in a note sent to investors on 18 December. The company now has an average rating of "Hold" and an average target price of $42.33. Inc. had 71 analyst reports since August 13, 2015 according to SRatingsIntel. BMO Capital Markets maintained Snyder's-Lance, Inc. (NASDAQ:LNCE) rating on Friday, December 15. BB&T Capital upgraded it to "Buy" rating and $42 target in Thursday, October 29 report. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Jefferies has "Buy" rating and $4400 target. (NASDAQ:LNCE) earned "Buy" rating by BMO Capital Markets on Tuesday, July 18. The rating was initiated by KeyBanc Capital Markets with "Sector Weight" on Thursday, May 26. (NASDAQ:LNCE) to report earnings on February, 12. It is now trading at around $50 on the New York Stock Exchange. About 12.47 million shares traded or 1696.35% up from the average.

Analysts await Snyder's-Lance, Inc. It has outperformed by 6.09% the S&P500. (NASDAQ:LNCE) to report earnings on February, 12. During the same quarter in the previous year, the firm posted $0.35 earnings per share. The company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.35 by ($0.02).

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One of the Bay State's signature snack foods is getting a new owner. The company has a market capitalization of $4,559.92, a PE ratio of 42.15 and a beta of 0.71.

Campbell Soup is hungry for pretzels, chips and popcorn. It now has negative earnings.

Snyder's portfolio includes brands such as Snyder's of Hanover, Lance, Kettle Brand, KETTLE chips, Cape Cod, Snack Factory Pretzel Crisps, Pop Secret, Emerald and Late July. Snyder's-Lance's payout ratio is presently -123.08%. More interesting news about Snyder's-Lance, Inc. BMO Capital Markets maintained Snyder's-Lance, Inc.

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