Oaktree Capital Management Lp Exits Position in Snyder's-Lance Inc (LNCE)

Snyder's-Lance Inc (LNCE) : Oaktree Capital Management Lp has sold out all of its stake in Snyder's-Lance Inc during the most recent quarter, according to the disclosure filed by the company on Aug 12, 2016 with the SEC. The investment management company has sold out 1,223,965 shares of Snyder's-Lance Inc which is valued at $43,193,725.

Other Hedge Funds, Including , Massachusetts Financial Services Co reduced its stake in LNCE by selling 86,869 shares or 7.72% in the most recent quarter. The Hedge Fund company now holds 1,038,494 shares of LNCE which is valued at $36,648,453. Snyder's-Lance Inc makes up approx 0.02% of Massachusetts Financial Services Co’s portfolio.New York State Common Retirement Fund reduced its stake in LNCE by selling 4,117 shares or 4.64% in the most recent quarter. The Hedge Fund company now holds 84,605 shares of LNCE which is valued at $2,985,710.Ameritas Investment Partners boosted its stake in LNCE in the latest quarter, The investment management firm added 1,709 additional shares and now holds a total of 18,853 shares of Snyder's-Lance Inc which is valued at $665,322. Snyder's-Lance Inc makes up approx 0.04% of Ameritas Investment Partners’s portfolio. Acrospire Investment Management sold out all of its stake in LNCE during the most recent quarter. The investment firm sold 458 shares of LNCE which is valued $15,700. Quadrant Capital Group sold out all of its stake in LNCE during the most recent quarter. The investment firm sold 37 shares of LNCE which is valued $1,268.

Snyder's-Lance Inc opened for trading at $35.83 and hit $36.05 on the upside on Monday, eventually ending the session at $35.79, with a gain of 0.08% or 0.03 points. The heightened volatility saw the trading volume jump to 4,23,139 shares. Company has a market cap of $3,438 M.

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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