D.B. Root & Company LLC Purchases New Holdings in J & J Snack Foods Corp. $JJSF

D.B. Root & Company LLC acquired a new stake in shares of J & J Snack Foods Corp. (NASDAQ:JJSF) in the second quarter, HoldingsChannel reports. The fund acquired 10,662 shares of the company’s stock, valued at approximately $783,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of J & J Snack Foods in the 2nd quarter valued at approximately $175,914,000. Royce & Associates LP acquired a new stake in shares of J & J Snack Foods during the fourth quarter worth approximately $29,596,000. Bank of New York Mellon Corp bought a new stake in shares of J & J Snack Foods in the second quarter worth $13,115,000. Goldman Sachs Group Inc. increased its stake in shares of J & J Snack Foods by 295.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 171,718 shares of the company’s stock worth $15,518,000 after buying an additional 128,301 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in J & J Snack Foods by 962.0% in the third quarter. Two Sigma Investments LP now owns 107,202 shares of the company’s stock valued at $10,301,000 after acquiring an additional 97,108 shares in the last quarter. 76.04% of the stock is currently owned by hedge funds and other institutional investors.

J & J Snack Foods Price Performance

Shares of NASDAQ JJSF opened at $88.84 on Wednesday. The company has a current ratio of 2.34, a quick ratio of 1.47 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 34.17 and a beta of 0.38. J & J Snack Foods Corp. has a twelve month low of $68.87 and a twelve month high of $116.32. The business has a 50 day simple moving average of $78.97 and a 200-day simple moving average of $80.08.

J & J Snack Foods (NASDAQ:JJSF) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.26. The firm had revenue of $425.96 million for the quarter, compared to analysts’ expectations of $427.65 million. J & J Snack Foods had a return on equity of 8.93% and a net margin of 3.23%.The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the business posted $2.00 earnings per share. As a group, equities research analysts expect that J & J Snack Foods Corp. will post 3.98 earnings per share for the current year.

J & J Snack Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 15th. J & J Snack Foods’s dividend payout ratio is 123.08%.

Wall Street Analyst Weigh In

JJSF has been the topic of a number of research analyst reports. Zacks Research downgraded shares of J & J Snack Foods from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Benchmark dropped their target price on shares of J & J Snack Foods from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Weiss Ratings restated a “sell (d+)” rating on shares of J & J Snack Foods in a research note on Wednesday, June 24th. Finally, Jefferies Financial Group raised shares of J & J Snack Foods from a “hold” rating to a “buy” rating and increased their price target for the stock from $81.00 to $101.00 in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $110.50.

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.