Sowell Financial Services LLC Lowers Holdings in J & J Snack Foods Corp. $JJSF

Sowell Financial Services LLC trimmed its holdings in J & J Snack Foods Corp. (NASDAQ:JJSF) by 1.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 14,841 shares of the company’s stock after selling 226 shares during the period. Sowell Financial Services LLC owned approximately 0.08% of J & J Snack Foods worth $1,683,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in JJSF. Principal Financial Group Inc. raised its stake in shares of J & J Snack Foods by 2.7% in the first quarter. Principal Financial Group Inc. now owns 77,823 shares of the company’s stock valued at $10,251,000 after acquiring an additional 2,026 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of J & J Snack Foods by 877.3% in the first quarter. Raymond James Financial Inc. now owns 42,484 shares of the company’s stock valued at $5,597,000 after acquiring an additional 38,137 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of J & J Snack Foods by 10.1% in the first quarter. Envestnet Asset Management Inc. now owns 26,615 shares of the company’s stock valued at $3,506,000 after acquiring an additional 2,431 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of J & J Snack Foods by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 162,460 shares of the company’s stock valued at $21,399,000 after acquiring an additional 1,565 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of J & J Snack Foods by 4.6% in the first quarter. Invesco Ltd. now owns 78,008 shares of the company’s stock valued at $10,275,000 after acquiring an additional 3,442 shares in the last quarter. 76.04% of the stock is currently owned by hedge funds and other institutional investors.

J & J Snack Foods Stock Down 1.4%

NASDAQ JJSF opened at $98.63 on Tuesday. J & J Snack Foods Corp. has a 52-week low of $97.93 and a 52-week high of $180.80. The business’s 50-day moving average price is $111.38 and its 200 day moving average price is $118.91. The firm has a market cap of $1.92 billion, a P/E ratio of 22.99 and a beta of 0.42.

J & J Snack Foods (NASDAQ:JJSF) last released its quarterly earnings results on Tuesday, August 5th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.26. J & J Snack Foods had a return on equity of 8.79% and a net margin of 5.24%.The firm had revenue of $454.30 million for the quarter, compared to analyst estimates of $445.98 million. During the same quarter last year, the company posted $1.98 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. As a group, analysts anticipate that J & J Snack Foods Corp. will post 4.75 earnings per share for the current year.

J & J Snack Foods Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.80 per share. This is an increase from J & J Snack Foods’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 16th. J & J Snack Foods’s dividend payout ratio is 74.59%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded J & J Snack Foods from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $142.50.

About J & J Snack Foods

J&J Snack Foods Corp. engages in the manufacturing of nutritional snack foods and distribution of frozen beverages to the food service and retail supermarket industries. It operates through the following segments: Food Service, Retail Supermarkets, and Frozen Beverages. The Food Service segment includes soft pretzels, frozen novelties, churros, handheld products, and baked goods.