BMO Capital Markets Lowers Snyder's-Lance (LNCE) to Market Perform

Cambpell mushroom soup cans

BlueCrest Capital Management Ltd purchased a new stake in shares of Snyder's-Lance during the first quarter worth about $201,000. (NASDAQ:LNCE) were released by: Seekingalpha.com and their article: "Snyder's-Lance: Can New Management Get Out From Under Bungled Acquisition?" published on June 15, 2017 as well as Nasdaq.com's news article titled: "Snyder's-Lance, Inc". Mesirow Financial Investment Management Us Value Equity sold 5,920 shares as Ptc Inc (PTC)'s stock rose 1.36%. Bank of Montreal Can bought a new stake in shares of Snyder's-Lance during the 2nd quarter valued at $380,000. 27 funds opened positions while 86 raised stakes. (NASDAQ:LNCE) has "Outperform" rating given on Thursday, June 9 by BMO Capital Markets. The company has a market cap of $4,328.96, a P/E ratio of 40.02 and a beta of 0.71. Fmr Lc stated it has 0.01% of its portfolio in Snyder's-Lance, Inc.

The company had seen its current volume reaching at 0.39 million shares in the last trade. Prudential Pcl has invested 0.02% in Snyder's-Lance, Inc. The company reported $0.33 EPS for the quarter, missing the Zacks' consensus estimate of $0.35 by ($0.02). The firm had revenue of $564.20 million for the quarter, compared to analysts' expectations of $559.86 million. Snyder's-Lance had a negative net margin of 2.22% and a positive return on equity of 5.30%.

Campbell's stock, before news of its plans to acquire Snyder's broke, was down roughly 18 percent over the past year. The company says it will maintain its current dividend, but will immediately suspend its share buyback program until the deal is fully integrated. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.37%. Snyder's-Lance, Inc. (NASDAQ:LNCE) has risen 22.79% since December 16, 2016 and is uptrending. Suntrust Robinson upgraded the stock to "Buy" rating in Thursday, October 29 report. UBS reduced their target price on 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 purchase price represents a almost 27 percent premium to Snyder's-Lance's closing stock price on December 13, 2017, the last trading day prior to media reports regarding a potential transaction.

Credit Suisse and Rothschild were financial advisers to Campbell Soup, while Goldman Sachs and Deutsche Bank worked with Snyder's-Lance. On a one to five ratings scale where 1.0 indicates a Strong Buy, 2.0 indicates a Buy, 3.0 a Hold, 4.0 a Sell and 5.0 a Stong Sell. The company presently has a consensus rating of "Hold" and an average price target of $42.33. (NASDAQ:LNCE) advice adding it to buy candidate list. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & global copyright and trademark laws. The merger agreement unreasonably limits competing bids for LNCE by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should LNCE receive and accept a superior bid. "We look forward to welcoming Snyder's-Lance's employees and their trusted family of leading brands to our company". 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. Dimensional Fund Advsr Limited Partnership holds 3.32M shares.

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