BlackRock Inc. grew its stake in J & J Snack Foods Corp (NASDAQ:JJSF) by 7.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,046,734 shares of the company’s stock after purchasing an additional 143,652 shares during the period. BlackRock Inc. owned 0.11% of J & J Snack Foods worth $312,066,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc purchased a new position in shares of J & J Snack Foods in the 2nd quarter valued at about $206,000. Schwab Charles Investment Management Inc. increased its holdings in shares of J & J Snack Foods by 6.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 110,453 shares of the company’s stock valued at $16,841,000 after purchasing an additional 6,566 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of J & J Snack Foods in the 2nd quarter valued at about $320,000. SG Americas Securities LLC increased its holdings in shares of J & J Snack Foods by 91.7% in the 2nd quarter. SG Americas Securities LLC now owns 8,851 shares of the company’s stock valued at $1,350,000 after purchasing an additional 4,235 shares in the last quarter. Finally, Strs Ohio increased its holdings in shares of J & J Snack Foods by 4.8% in the 2nd quarter. Strs Ohio now owns 8,800 shares of the company’s stock valued at $1,341,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.
NASDAQ:JJSF opened at $150.05 on Friday. J & J Snack Foods Corp has a twelve month low of $125.38 and a twelve month high of $159.05. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 35.64, a price-to-earnings-growth ratio of 3.27 and a beta of 0.55.
J & J Snack Foods (NASDAQ:JJSF) last posted its earnings results on Monday, July 30th. The company reported $1.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.51 by ($0.12). J & J Snack Foods had a net margin of 9.06% and a return on equity of 11.36%. The business had revenue of $306.20 million for the quarter, compared to analysts’ expectations of $312.55 million. During the same quarter last year, the business posted $1.34 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. equities research analysts anticipate that J & J Snack Foods Corp will post 4.58 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 4th. Shareholders of record on Friday, September 14th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.80 annualized dividend and a yield of 1.20%. J & J Snack Foods’s dividend payout ratio (DPR) is currently 42.76%.
In other J & J Snack Foods news, SVP Dennis G. Moore sold 5,250 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $145.14, for a total transaction of $761,985.00. Following the completion of the transaction, the senior vice president now directly owns 80,877 shares in the company, valued at approximately $11,738,487.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 21.00% of the company’s stock.
A number of equities analysts have recently issued reports on JJSF shares. Zacks Investment Research downgraded shares of J & J Snack Foods from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. BidaskClub downgraded shares of J & J Snack Foods from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $145.50.
J & J Snack Foods Company Profile
J&J Snack Foods Corp. manufactures nutritional snack foods and distributes frozen beverages to the food service and retail supermarket industries. It operates through the following segment: Food Service, Retail Supermarkets, and Frozen Beverages. The Food Service segment engages soft pretzels, frozen juice treats and desserts, churros, dough enrobed handheld products and baked goods.
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