Versant Capital Management Inc Boosts Holdings in Snap-on Incorporated (NYSE:SNA)

Versant Capital Management Inc raised its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 529.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 195 shares of the company’s stock after acquiring an additional 164 shares during the quarter. Versant Capital Management Inc’s holdings in Snap-on were worth $51,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SNA. Scarborough Advisors LLC purchased a new stake in shares of Snap-on during the fourth quarter worth about $30,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Snap-on during the fourth quarter worth about $55,000. Fidelis Capital Partners LLC acquired a new stake in shares of Snap-on in the first quarter worth approximately $56,000. EntryPoint Capital LLC acquired a new stake in shares of Snap-on in the first quarter worth approximately $61,000. Finally, Mather Group LLC. acquired a new stake in shares of Snap-on in the first quarter worth approximately $96,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SNA. Tigress Financial reissued a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research report on Thursday, July 25th. Robert W. Baird reduced their price target on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $315.00.

Snap-on Stock Performance

Shares of NYSE:SNA traded up $1.12 during trading on Tuesday, reaching $272.36. 234,935 shares of the company’s stock traded hands, compared to its average volume of 302,056. The stock has a market capitalization of $14.36 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 1.92 and a beta of 0.98. Snap-on Incorporated has a 12 month low of $249.84 and a 12 month high of $298.49. The company has a 50 day moving average of $268.43 and a 200-day moving average of $276.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm posted $4.89 EPS. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, equities analysts expect that Snap-on Incorporated will post 18.97 EPS for the current year.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the transaction, the chief executive officer now owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the sale, the chief executive officer now directly owns 750,663 shares in the company, valued at approximately $200,276,888.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 5,978 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the completion of the transaction, the chief financial officer now owns 97,699 shares of the company’s stock, valued at $27,048,945.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,632 shares of company stock worth $10,353,409. Company insiders own 4.10% of the company’s stock.

Snap-on Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.