KLP Kapitalforvaltning AS lessened its holdings in J & J Snack Foods Corp. (NASDAQ:JJSF – Free Report) by 11.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,000 shares of the company’s stock after selling 400 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in J & J Snack Foods were worth $342,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of JJSF. Advisor Resource Council purchased a new stake in J & J Snack Foods in the first quarter worth about $540,000. Allspring Global Investments Holdings LLC grew its holdings in J & J Snack Foods by 1.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,629,344 shares of the company’s stock worth $216,035,000 after purchasing an additional 24,139 shares during the period. Principal Financial Group Inc. grew its holdings in 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 worth $10,251,000 after purchasing an additional 2,026 shares during the period. Bank of New York Mellon Corp grew its holdings in 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 worth $21,399,000 after purchasing an additional 1,565 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in 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 worth $3,506,000 after purchasing an additional 2,431 shares during the period. Hedge funds and other institutional investors own 76.04% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of J & J Snack Foods from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of J & J Snack Foods in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $142.50.
J & J Snack Foods Stock Performance
Shares of NASDAQ JJSF opened at $92.95 on Monday. The firm’s 50 day moving average price is $103.87 and its 200-day moving average price is $114.10. The company has a market cap of $1.81 billion, a PE ratio of 21.67 and a beta of 0.38. J & J Snack Foods Corp. has a 52-week low of $91.30 and a 52-week high of $180.80.
J & J Snack Foods (NASDAQ:JJSF – Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.26. The firm had revenue of $454.30 million for the quarter, compared to the consensus estimate of $445.98 million. J & J Snack Foods had a net margin of 5.24% and a return on equity of 8.79%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.98 earnings per share. On average, analysts forecast that J & J Snack Foods Corp. will post 4.75 earnings per share for the current fiscal year.
J & J Snack Foods Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Tuesday, September 16th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.4%. This is a positive change from J & J Snack Foods’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, September 16th. J & J Snack Foods’s payout ratio is currently 74.59%.
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.
See Also
- Five stocks we like better than J & J Snack Foods
- 3 Defense Stocks Set to Benefit From Increased Military Spending
- JPMorgan Crushes Q3; But Is the Steady Eddy Stock Hitting A Wall?
- Why Invest in High-Yield Dividend Stocks?
- Snap-on Incorporated: Snap It Up Quick, New Highs Will Come Soon
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- As Global Renewables Surpass Coal, This ETF Offers Smart Exposure
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 – Free Report).
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.