Otter Creek Advisors buys $14,350,431 stake in Snyder's-Lance Inc (LNCE)

Snyder's-Lance Inc (LNCE) : Otter Creek Advisors scooped up 201,989 additional shares in Snyder's-Lance Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 406,643 shares of Snyder's-Lance Inc which is valued at $14,350,431.Snyder's-Lance Inc makes up approximately 5.63% of Otter Creek Advisors’s portfolio.

Other Hedge Funds, Including , Tudor Investment Corp Et Al boosted its stake in LNCE in the latest quarter, The investment management firm added 3,100 additional shares and now holds a total of 28,200 shares of Snyder's-Lance Inc which is valued at $995,178. Snyder's-Lance Inc makes up approx 0.04% of Tudor Investment Corp Et Al’s portfolio.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. Jennison Associates added LNCE to its portfolio by purchasing 17,157 company shares during the most recent quarter which is valued at $589,686.Confluence Investment Management boosted its stake in LNCE in the latest quarter, The investment management firm added 2,663 additional shares and now holds a total of 69,520 shares of Snyder's-Lance Inc which is valued at $2,408,868. Snyder's-Lance Inc makes up approx 0.06% of Confluence Investment Management’s portfolio. Ami Asset Management Corp added LNCE to its portfolio by purchasing 323,489 company shares during the most recent quarter which is valued at $11,464,450. Snyder's-Lance Inc makes up approx 0.76% of Ami Asset Management Corp’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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