Campbell gets the munchies, buys Snyder's-Lance for $4.87B
00:39, Dec 20, 2017
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CEO Brian Driscoll said the Campbell Soup deal is the best option for the Snyders'-Lance shareholders. FNY Partners Fund LP acquired a new position in Snyder's-Lance during the 2nd quarter valued at about $103,000. Eagle Asset Management reported 0.47% in Snyder's-Lance, Inc. Envestnet Asset Management Inc. lifted its position in Snyder's-Lance by 235.7% during the 3rd quarter. (NASDAQ:LNCE) for 1.09 million shares. Lord Abbett & Ltd Llc, New Jersey-based fund reported 430,988 shares.
Champlain Ptnrs Ltd accumulated 5.46 million shares. Liberty Mutual Group Asset Mgmt Inc reported 0.05% of its portfolio in Snyder's-Lance, Inc.
Highlander Cap Limited Liability Corporation reported 7,100 shares. California Pub Employees Retirement System reported 0.01% of its portfolio in Snyder's-Lance, Inc. Susquehanna Grp Incorporated Limited Liability Partnership holds 0% of its portfolio in Snyder's-Lance, Inc. Sg Americas Secs Ltd Co stated it has 30,908 shares. Ahl Prtnrs Llp reported 112,106 shares stake. Snyder's-Lance, Inc. (NASDAQ:LNCE) has risen 22.79% since December 19, 2016 and is uptrending. (NASDAQ:LNCE). Northern Trust Corp has 1.55 million shares for 0.02% of their portfolio. Nationwide Fund Advisors has invested 0.03% in Snyder's-Lance, Inc. (NASDAQ:LNCE). 6,718 are owned by Ls Investment Advsr Ltd Liability Corporation. Signaturefd Ltd Com reported 16,623 shares.
A successful deal would be the biggest acquisition in Campbell Soup's 148-year history.
(NASDAQ:LNCE). Credit Agricole S A holds 0% or 8,774 shares. Therefore 67% are positive.
Professional analysts at BMO Capital's equity research division decreased the rating for shares of Snyder's-Lance (NASDAQ:LNCE) from a "Outperform" to a "Market Perform" on Monday morning. The company presently has a consensus rating of "Hold" and an average target price of $44.83.
Analysts await Snyder's-Lance, Inc. BMO Capital Markets maintained the stock with "Outperform" rating in Wednesday, August 9 report. The rating was initiated by KeyBanc Capital Markets with "Sector Weight" on Thursday, May 26. Deutsche Bank set a $50.00 price objective on shares of Snyder's-Lance and gave the stock a "buy" rating in a report on Friday. The firm earned "Buy" rating on Thursday, October 29 by BB&T Capital. (NASDAQ:LNCE) has "Buy" rating given on Tuesday, June 27 by Jefferies.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 28th. The firm has "Buy" rating given on Tuesday, October 3 by Jefferies. (NASDAQ:LNCE) rating on Friday, December 15. It is now trading at around $50 on the New York Stock Exchange. About 12.47M shares traded or 1696.35% up from the average. Diversified Trust invested 0.19% in Merck & Co., Inc. It has outperformed by 6.09% the S&P500. Snyder's-Lance's dividend payout ratio is now -256.00%. They expect $0.40 earnings per share, up 5.26 % or $0.02 from last year's $0.38 per share. LNCE's profit will be $38.98 million for 31.28 P/E if the $0.40 EPS becomes a reality. The company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.35 by ($0.02).
SnyderÂ's-Lance, Inc. manufactures, distributes, markets, and sells snack food products in the United States. That puts the deal's value at $4.87 billion. 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. It now has negative earnings.
More notable recent Snyder's-Lance, Inc. Deutsche Bank maintained Snyder's-Lance, Inc. More interesting news about Snyder's-Lance, Inc.
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