Louisiana State Employees Retirement System purchased a new stake in J & J Snack Foods Corp. (NASDAQ:JJSF – Free Report) during the first quarter, HoldingsChannel.com reports. The fund purchased 6,700 shares of the company’s stock, valued at approximately $531,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP raised its holdings in shares of J & J Snack Foods by 485.1% during the fourth quarter. Allworth Financial LP now owns 275 shares of the company’s stock worth $25,000 after acquiring an additional 228 shares during the period. Global Retirement Partners LLC increased its holdings in J & J Snack Foods by 1,133.3% during the 4th quarter. Global Retirement Partners LLC now owns 333 shares of the company’s stock worth $30,000 after purchasing an additional 306 shares in the last quarter. IFP Advisors Inc raised its stake in shares of J & J Snack Foods by 1,450.0% in the 4th quarter. IFP Advisors Inc now owns 341 shares of the company’s stock valued at $31,000 after purchasing an additional 319 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of J & J Snack Foods by 58.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 404 shares of the company’s stock valued at $36,000 after purchasing an additional 149 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of J & J Snack Foods by 897.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 439 shares of the company’s stock valued at $40,000 after purchasing an additional 395 shares in the last quarter. Institutional investors and hedge funds own 76.04% of the company’s stock.
Wall Street Analyst Weigh In
JJSF has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of J & J Snack Foods in a report on Wednesday, June 24th. Benchmark cut their target price on J & J Snack Foods from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Finally, Zacks Research cut shares of J & J Snack Foods from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $120.00.
J & J Snack Foods Price Performance
Shares of NASDAQ JJSF opened at $76.93 on Wednesday. The business has a 50-day moving average of $76.13 and a 200-day moving average of $82.58. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 25.82 and a beta of 0.38. J & J Snack Foods Corp. has a fifty-two week low of $68.87 and a fifty-two week high of $129.24.
J & J Snack Foods (NASDAQ:JJSF – Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. J & J Snack Foods had a return on equity of 9.01% and a net margin of 3.75%.The business had revenue of $344.82 million for the quarter, compared to analyst estimates of $349.67 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. J & J Snack Foods’s revenue was down 3.2% on a year-over-year basis. On average, sell-side analysts expect that J & J Snack Foods Corp. will post 4 EPS for the current year.
J & J Snack Foods Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 16th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, June 16th. J & J Snack Foods’s dividend payout ratio is presently 107.38%.
About J & J Snack Foods
J & J Snack Foods (NASDAQ: JJSF) is a U.S.-based manufacturer and distributor of branded snack foods and frozen beverages. Headquartered in Pennsauken, New Jersey, the company develops, produces and markets a broad array of proprietary and licensed products for retail, concession and foodservice customers. Its offerings span soft pretzels, frozen novelties, real Italian ice, churros and packaged beverages under well-known names such as ICEE, SuperPretzel, Luigi’s and ChurroMan.
Founded in 1971 by Gerald B.
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