The Manufacturers Life Insurance Company purchased a new position in J & J Snack Foods Corp. (NASDAQ:JJSF – Free Report) during the 2nd quarter, HoldingsChannel reports. The firm purchased 6,271 shares of the company’s stock, valued at approximately $461,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. D.B. Root & Company LLC bought a new position in J & J Snack Foods during the 2nd quarter worth $783,000. Sanctuary Advisors LLC bought a new stake in J & J Snack Foods in the second quarter valued at $294,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of J & J Snack Foods during the second quarter valued at $53,000. Quantbot Technologies LP acquired a new position in shares of J & J Snack Foods during the second quarter valued at $61,000. Finally, Bard Associates Inc. bought a new position in shares of J & J Snack Foods during the second quarter worth about $134,000. Institutional investors and hedge funds own 76.04% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Jefferies Financial Group raised shares of J & J Snack Foods from a “hold” rating to a “buy” rating and increased their price objective for the stock from $81.00 to $101.00 in a report on Thursday, August 6th. Weiss Ratings restated a “sell (d+)” rating on shares of J & J Snack Foods in a research report on Wednesday, June 24th. Finally, Benchmark dropped their price target on shares of 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. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $110.50.
J & J Snack Foods Stock Performance
Shares of JJSF stock opened at $84.11 on Monday. J & J Snack Foods Corp. has a 1 year low of $68.87 and a 1 year high of $110.78. The firm has a market capitalization of $1.58 billion, a PE ratio of 32.35 and a beta of 0.40. The stock has a fifty day moving average of $82.17 and a two-hundred day moving average of $80.25. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.47 and a current ratio of 2.34.
J & J Snack Foods (NASDAQ:JJSF – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.26. J & J Snack Foods had a return on equity of 8.93% and a net margin of 3.23%.The company had revenue of $425.96 million for the quarter, compared to analyst estimates of $427.65 million. During the same period last year, the company earned $2.00 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, research analysts expect that J & J Snack Foods Corp. will post 3.98 EPS for the current year.
J & J Snack Foods Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.20 annualized dividend and a yield of 3.8%. J & J Snack Foods’s dividend payout ratio (DPR) is presently 123.08%.
J & J Snack Foods Company Profile
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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