PNC Financial Services Group Inc. reduced its holdings in J&J Snack Foods Corp. (NASDAQ:JJSF – Free Report) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,551 shares of the company’s stock after selling 184 shares during the quarter. PNC Financial Services Group Inc.’s holdings in J&J Snack Foods were worth $259,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in JJSF. American Century Companies Inc. boosted its position in shares of J&J Snack Foods by 12,431.7% in the 3rd quarter. American Century Companies Inc. now owns 204,642 shares of the company’s stock valued at $33,490,000 after purchasing an additional 203,009 shares during the period. Norges Bank acquired a new position in shares of J&J Snack Foods in the fourth quarter worth about $27,404,000. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of J&J Snack Foods by 102.1% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 91,619 shares of the company’s stock worth $14,993,000 after acquiring an additional 46,294 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in shares of J&J Snack Foods by 4.9% during the fourth quarter. DAVENPORT & Co LLC now owns 194,357 shares of the company’s stock valued at $32,741,000 after acquiring an additional 9,094 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of J&J Snack Foods by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,548,424 shares of the company’s stock valued at $253,400,000 after acquiring an additional 8,918 shares in the last quarter. 76.04% of the stock is owned by institutional investors and hedge funds.
J&J Snack Foods Stock Performance
JJSF stock opened at $163.01 on Friday. The firm has a 50 day simple moving average of $148.79 and a 200 day simple moving average of $154.14. The stock has a market cap of $3.16 billion, a P/E ratio of 36.71 and a beta of 0.60. J&J Snack Foods Corp. has a 52 week low of $133.23 and a 52 week high of $177.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 2.41.
J&J Snack Foods (NASDAQ:JJSF – Get Free Report) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.21. J&J Snack Foods had a return on equity of 10.71% and a net margin of 5.45%. The business had revenue of $359.73 million during the quarter, compared to analyst estimates of $341.08 million. During the same period in the previous year, the company earned $0.43 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. Research analysts anticipate that J&J Snack Foods Corp. will post 5.29 earnings per share for the current fiscal year.
J&J Snack Foods Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Tuesday, June 18th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 1.80%. The ex-dividend date is Tuesday, June 18th. J&J Snack Foods’s payout ratio is 66.22%.
Wall Street Analyst Weigh In
Separately, Benchmark reiterated a “buy” rating and set a $195.00 price objective on shares of J&J Snack Foods in a research report on Tuesday, May 7th.
Read Our Latest Stock Report on JJSF
Insider Buying and Selling at J&J Snack Foods
In other news, VP Robert Cranmer sold 2,278 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $162.03, for a total transaction of $369,104.34. Following the completion of the sale, the vice president now owns 872 shares in the company, valued at approximately $141,290.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 22.20% of the company’s stock.
J&J Snack Foods Profile
J&J Snack Foods Corp. manufactures, markets, and distributes nutritional snack foods and beverages to the food service and retail supermarket industries in the United States, Mexico, and Canada. It operates through three segments: Food Service, Retail Supermarkets, and Frozen Beverages. It offers soft pretzels under the SUPERPRETZEL, SUPERPRETZEL BAVARIAN, NEW YORK PRETZEL, BAVARIAN BAKERY, and BRAUHAUS brands, as well as under the private labels; frozen novelty under the DIPPIN’DOTS, LUIGI’S, WHOLE FRUIT, DOGSTERS, PHILLY SWIRL, ICEE, and MINUTE MAID brands; churros under the HOLA! and CALIFORNIA CHURROS brands; and handheld products under the SUPREME STUFFERS and SWEET STUFFERS brands.
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Source: defenseworld.net
