Eaton Vance Management Acquires New Stake in J & J Snack Foods Corp (JJSF)

Eaton Vance Management acquired a new stake in shares of J & J Snack Foods Corp (NASDAQ:JJSF) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 34,272 shares of the company’s stock, valued at approximately $5,171,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Comerica Bank lifted its position in J & J Snack Foods by 2.3% during the second quarter. Comerica Bank now owns 16,251 shares of the company’s stock valued at $2,547,000 after purchasing an additional 368 shares during the last quarter. Rhumbline Advisers lifted its position in J & J Snack Foods by 0.9% during the second quarter. Rhumbline Advisers now owns 41,383 shares of the company’s stock valued at $6,310,000 after purchasing an additional 376 shares during the last quarter. Bahl & Gaynor Inc. raised its stake in shares of J & J Snack Foods by 3.2% in the third quarter. Bahl & Gaynor Inc. now owns 12,492 shares of the company’s stock valued at $1,884,000 after acquiring an additional 393 shares during the period. Strs Ohio raised its stake in shares of J & J Snack Foods by 4.8% in the second quarter. Strs Ohio now owns 8,800 shares of the company’s stock valued at $1,341,000 after acquiring an additional 400 shares during the period. Finally, RK Asset Management LLC raised its stake in shares of J & J Snack Foods by 1.0% in the third quarter. RK Asset Management LLC now owns 40,330 shares of the company’s stock valued at $6,085,000 after acquiring an additional 405 shares during the period. Institutional investors and hedge funds own 70.92% of the company’s stock.

In other news, insider Gerald B. Shreiber sold 2,435 shares of the stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $156.29, for a total value of $380,566.15. Following the sale, the insider now owns 3,563,985 shares of the company’s stock, valued at $557,015,215.65. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robert Joseph Pape sold 2,100 shares of the stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $153.68, for a total transaction of $322,728.00. Following the completion of the sale, the insider now directly owns 12,281 shares in the company, valued at approximately $1,887,344.08. The disclosure for this sale can be found here. Corporate insiders own 21.00% of the company’s stock.

Several equities research analysts have recently weighed in on the stock. BidaskClub raised shares of J & J Snack Foods from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 26th. Zacks Investment Research downgraded shares of J & J Snack Foods from a “hold” rating to a “sell” rating in a research note on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $145.50.

Shares of JJSF opened at $153.57 on Friday. J & J Snack Foods Corp has a twelve month low of $125.98 and a twelve month high of $162.80. The firm has a market capitalization of $2.83 billion, a PE ratio of 37.83, a PEG ratio of 3.08 and a beta of 0.41.

J & J Snack Foods (NASDAQ:JJSF) last announced its earnings results on Thursday, November 8th. The company reported $1.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.08). J & J Snack Foods had a net margin of 9.10% and a return on equity of 10.89%. The firm had revenue of $300.72 million during the quarter, compared to analysts’ expectations of $306.48 million. During the same period in the prior year, the company posted $1.29 EPS. The company’s revenue was down 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that J & J Snack Foods Corp will post 4.89 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Tuesday, December 18th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, December 17th. This represents a $2.00 annualized dividend and a dividend yield of 1.30%. This is an increase from J & J Snack Foods’s previous quarterly dividend of $0.45. J & J Snack Foods’s dividend payout ratio is currently 44.33%.

TRADEMARK VIOLATION WARNING: “Eaton Vance Management Acquires New Stake in J & J Snack Foods Corp (JJSF)” was originally posted by Transcript Daily and is owned by of Transcript Daily. If you are viewing this story on another publication, it was stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this story can be viewed at https://transcriptdaily.com/2018/12/08/eaton-vance-management-acquires-new-stake-in-j-j-snack-foods-corp-jjsf.html.

J & J Snack Foods Company Profile

J&J Snack Foods Corp. manufactures, markets, and distributes various nutritional snack foods and beverages to the food service and retail supermarket industries in the United States, Mexico, and Canada. The company operates through three segments: Food Service, Retail Supermarkets, and Frozen Beverages.

Featured Story: Understanding Market Liquidity

Want to see what other hedge funds are holding JJSF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for J & J Snack Foods Corp (NASDAQ:JJSF).

Institutional Ownership by Quarter for J & J Snack Foods (NASDAQ:JJSF)

Receive News & Ratings for J & J Snack Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J & J Snack Foods and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply