D.B. Root & Company LLC Sells 277 Shares of J & J Snack Foods Corp. $JJSF

D.B. Root & Company LLC reduced its stake in shares of J & J Snack Foods Corp. (NASDAQ:JJSF) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,646 shares of the company’s stock after selling 277 shares during the period. D.B. Root & Company LLC’s holdings in J & J Snack Foods were worth $981,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its position in J & J Snack Foods by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 77,823 shares of the company’s stock worth $10,251,000 after purchasing an additional 2,026 shares during the last quarter. Raymond James Financial Inc. raised its position in J & J Snack Foods by 877.3% during the 1st quarter. Raymond James Financial Inc. now owns 42,484 shares of the company’s stock worth $5,597,000 after purchasing an additional 38,137 shares during the last quarter. Envestnet Asset Management Inc. raised its position in J & J Snack Foods by 10.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 26,615 shares of the company’s stock worth $3,506,000 after purchasing an additional 2,431 shares during the last quarter. Bank of New York Mellon Corp raised its position in J & J Snack Foods by 1.0% during the 1st quarter. Bank of New York Mellon Corp now owns 162,460 shares of the company’s stock worth $21,399,000 after purchasing an additional 1,565 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in J & J Snack Foods by 4.6% during the 1st quarter. Invesco Ltd. now owns 78,008 shares of the company’s stock worth $10,275,000 after acquiring an additional 3,442 shares during the period. 76.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on JJSF shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of J & J Snack Foods in a report on Saturday, September 27th. Wall Street Zen upgraded J & J Snack Foods from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $142.50.

J & J Snack Foods Stock Performance

Shares of NASDAQ JJSF opened at $96.80 on Monday. J & J Snack Foods Corp. has a fifty-two week low of $94.13 and a fifty-two week high of $180.80. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 22.56 and a beta of 0.38. The firm’s 50-day simple moving average is $107.79 and its 200 day simple moving average is $116.60.

J & J Snack Foods (NASDAQ:JJSF) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.26. J & J Snack Foods had a net margin of 5.24% and a return on equity of 8.79%. The business had revenue of $454.30 million for the quarter, compared to analysts’ expectations of $445.98 million. During the same quarter last year, the firm earned $1.98 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, sell-side analysts predict that J & J Snack Foods Corp. will post 4.75 EPS for the current year.

J & J Snack Foods Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 16th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Tuesday, September 16th. This is a boost from J & J Snack Foods’s previous quarterly dividend of $0.78. J & J Snack Foods’s dividend payout ratio (DPR) is presently 74.59%.

J & J Snack Foods Profile

J&J Snack Foods Corp. engages in the manufacturing of nutritional snack foods and distribution of frozen beverages to the food service and retail supermarket industries. It operates through the following segments: Food Service, Retail Supermarkets, and Frozen Beverages. The Food Service segment includes soft pretzels, frozen novelties, churros, handheld products, and baked goods.