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How Did Snyder’s-Lance Perform in 2015?

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Mar. 4 2016, Published 2:01 p.m. ET

Price movement of Snyder’s-Lance

Snyder’s-Lance (LNCE) has a market cap of $2.2 billion. LNCE fell by 0.38% to close at $31.38 per share on March 3, 2016. The price movement on a weekly, monthly, and year-to-date (or YTD) basis is -1.6%, 3.6%, and -8.0%, respectively.

Currently, LNCE is trading 3.5% above its 20-day moving average, 4.0% below its 50-day moving average, and 6.0% below its 200-day moving average.

The iShares Russell 2000 Value ETF (IWN) invests 0.17% of its holdings in LNCE. The ETF tracks an index of US small-cap value stocks. The index selects value stocks from stocks ranked 1,001–3,000 by market cap. The YTD price movement of IWN was -3.0% as of March 2, 2016.

The iShares Russell 2000 ETF (IWM) invests 0.08% of its holdings in LNCE. The ETF tracks a market-cap-weighted index of US small-cap stocks. The index selects stocks ranked 1,001–3,000 by market cap.

The market caps of Snyder’s-Lance’s competitors are as follows:

  • Mondelez International (MDLZ): $65.7 billion
  • J&J Snack Foods Corporation (JJSF): $2.1 billion
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Deutsche Bank rated Snyder’s-Lance

Deutsche Bank rated Snyder’s-Lance a “hold” and set the price target at $32 per share after the approval of the acquisition of Diamond Foods.

Performance of Snyder’s-Lance in recent 4Q15 and 2015

Snyder’s-Lance reported fiscal 4Q15 net revenue of $405.9 million, a fall of 7.5% from $439.0 million in fiscal 4Q14. It reported the sale of route businesses of $545.0 million in fiscal 4Q15 compared with -$329.0 million in fiscal 4Q14.

Its net income and EPS (earnings per share) fell to $7.0 million and $0.10, respectively, in fiscal 4Q15 compared with $26.3 million and $0.37, respectively, in fiscal 4Q14.

Fiscal 2015 results

In fiscal 2015, LNCE reported net revenues of $1.7 billion, a rise of 2.2% YoY (year-over-year). It reported settlements of litigations of $5.7 million in fiscal 2015. Its net income and EPS fell to $50.7 million and $0.71, respectively, in fiscal 2015, compared with $192.6 million and $2.72, respectively, in fiscal 2014.

Meanwhile, its cash and cash equivalents rose by 10.6% and its inventories fell by 4.5% in fiscal 2015. Its current ratio and debt-to-equity ratio fell to 2.22x and 0.64x, respectively, in fiscal 2015 compared with 2.24x and 0.70x, respectively, in fiscal 2014.

The price-to-earnings and price-to-book value ratios of Snyder’s-Lance are 31.7x and 2.0x, respectively, as of March 3, 2016.

In the next part of the series, we’ll look at Sonoco Products.

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