EULAV Asset Management Cuts Stake in J & J Snack Foods Corp. $JJSF

EULAV Asset Management reduced its stake in J & J Snack Foods Corp. (NASDAQ:JJSF) by 47.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,800 shares of the company’s stock after selling 18,800 shares during the period. EULAV Asset Management’s holdings in J & J Snack Foods were worth $1,880,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JJSF. AQR Capital Management LLC purchased a new position in shares of J & J Snack Foods in the 1st quarter worth about $228,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of J & J Snack Foods by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,079 shares of the company’s stock worth $1,196,000 after buying an additional 397 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of J & J Snack Foods by 122.1% in the 1st quarter. Millennium Management LLC now owns 72,625 shares of the company’s stock worth $9,566,000 after buying an additional 39,933 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of J & J Snack Foods by 49.6% in the 1st quarter. NewEdge Advisors LLC now owns 3,376 shares of the company’s stock worth $445,000 after buying an additional 1,120 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of J & J Snack Foods by 465.8% in the 1st quarter. Jane Street Group LLC now owns 25,746 shares of the company’s stock worth $3,391,000 after buying an additional 21,196 shares during the last quarter. 76.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on JJSF shares. Zacks Research downgraded shares of J & J Snack Foods from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of J & J Snack Foods in a report on Friday, March 27th. Finally, Benchmark dropped their price objective on shares of J & J Snack Foods from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $120.00.

J & J Snack Foods Stock Up 1.6%

NASDAQ JJSF opened at $75.42 on Friday. The company has a market cap of $1.41 billion, a PE ratio of 25.31 and a beta of 0.38. J & J Snack Foods Corp. has a 52 week low of $68.87 and a 52 week high of $129.24. The firm’s 50-day simple moving average is $78.39 and its two-hundred day simple moving average is $85.11.

J & J Snack Foods (NASDAQ:JJSF) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. The business had revenue of $344.82 million for the quarter, compared to the consensus estimate of $349.67 million. J & J Snack Foods had a net margin of 3.75% and a return on equity of 9.01%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share. As a group, equities research analysts anticipate that J & J Snack Foods Corp. will post 4.16 EPS for the current year.

J & J Snack Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 16th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, June 16th. J & J Snack Foods’s dividend payout ratio is presently 107.38%.

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.