Acadian Asset Management LLC increased its position in J & J Snack Foods Corp. (NASDAQ:JJSF) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,659 shares of the company’s stock after buying an additional 5,876 shares during the period. Acadian Asset Management LLC owned about 0.85% of J & J Snack Foods Corp. worth $21,085,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of J & J Snack Foods Corp. by 136,379.7% in the first quarter. BlackRock Inc. now owns 1,798,803 shares of the company’s stock worth $243,846,000 after buying an additional 1,797,485 shares during the last quarter. Norges Bank purchased a new stake in J & J Snack Foods Corp. during the fourth quarter valued at approximately $20,320,000. Vanguard Group Inc. increased its stake in J & J Snack Foods Corp. by 6.4% in the first quarter. Vanguard Group Inc. now owns 1,504,365 shares of the company’s stock valued at $203,931,000 after buying an additional 90,593 shares in the last quarter. Legato Capital Management LLC increased its stake in J & J Snack Foods Corp. by 13,456.0% in the first quarter. Legato Capital Management LLC now owns 45,277 shares of the company’s stock valued at $334,000 after buying an additional 44,943 shares in the last quarter. Finally, Ranger Investment Management L.P. increased its stake in J & J Snack Foods Corp. by 34.3% in the first quarter. Ranger Investment Management L.P. now owns 147,118 shares of the company’s stock valued at $19,943,000 after buying an additional 37,598 shares in the last quarter. 67.78% of the stock is currently owned by institutional investors.
Shares of J & J Snack Foods Corp. (JJSF) opened at 127.02 on Friday. The company’s 50-day moving average price is $130.45 and its 200 day moving average price is $132.37. J & J Snack Foods Corp. has a one year low of $102.81 and a one year high of $143.21. The company has a market cap of $2.38 billion, a P/E ratio of 31.68 and a beta of 0.72.
J & J Snack Foods Corp. (NASDAQ:JJSF) last posted its earnings results on Monday, July 24th. The company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by $0.15. The company had revenue of $295.40 million for the quarter, compared to analysts’ expectations of $297.83 million. J & J Snack Foods Corp. had a return on equity of 11.55% and a net margin of 7.33%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 EPS. On average, equities research analysts anticipate that J & J Snack Foods Corp. will post $4.19 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Thursday, September 14th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Wednesday, September 13th. J & J Snack Foods Corp.’s payout ratio is presently 41.90%.
J & J Snack Foods Corp. declared that its Board of Directors has initiated a share repurchase program on Friday, August 4th that allows the company to buyback 500,000 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
JJSF has been the subject of several recent research reports. Zacks Investment Research downgraded J & J Snack Foods Corp. from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 26th. BidaskClub upgraded J & J Snack Foods Corp. from a “sell” rating to a “hold” rating in a report on Monday, July 24th.
J & J Snack Foods Corp. Company Profile
J & J Snack Foods Corp. is a manufacturer, marketer and distributor of a range of snack foods and beverages for the food service and retail supermarket industries. The Company operates in three business segments: Food Service, Retail Supermarkets and Frozen Beverages. Its portfolio of products includes soft pretzels, frozen beverages, frozen juice treats and desserts, stuffed sandwiches, burritos, churros, fruit pies, funnel cakes, cookies and bakery goods, and other snack foods and drinks.
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