Envestnet Asset Management Inc. cut its holdings in J & J Snack Foods Corp. (NASDAQ:JJSF) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,522 shares of the company’s stock after selling 385 shares during the quarter. Envestnet Asset Management Inc.’s holdings in J & J Snack Foods were worth $3,405,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of JJSF. IndexIQ Advisors LLC boosted its stake in shares of J & J Snack Foods by 83.5% in the first quarter. IndexIQ Advisors LLC now owns 189 shares of the company’s stock valued at $30,000 after buying an additional 86 shares in the last quarter. Harbor Investment Advisory LLC boosted its position in J & J Snack Foods by 34.3% during the second quarter. Harbor Investment Advisory LLC now owns 630 shares of the company’s stock worth $110,000 after purchasing an additional 161 shares in the last quarter. Rational Advisors LLC purchased a new stake in J & J Snack Foods during the first quarter worth $162,000. Bruderman Asset Management LLC boosted its position in J & J Snack Foods by 5.3% during the second quarter. Bruderman Asset Management LLC now owns 1,378 shares of the company’s stock worth $240,000 after purchasing an additional 69 shares in the last quarter. Finally, Kestra Advisory Services LLC boosted its position in J & J Snack Foods by 13.0% during the first quarter. Kestra Advisory Services LLC now owns 1,657 shares of the company’s stock worth $260,000 after purchasing an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 74.29% of the company’s stock.
JJSF has been the topic of a number of research analyst reports. TheStreet upgraded J & J Snack Foods from a “c” rating to a “b-” rating in a research report on Monday, July 26th. Zacks Investment Research upgraded J & J Snack Foods from a “hold” rating to a “strong-buy” rating and set a $191.00 target price on the stock in a research report on Thursday, July 29th.
J & J Snack Foods (NASDAQ:JJSF) last released its quarterly earnings results on Sunday, July 25th. The company reported $1.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.73. J & J Snack Foods had a return on equity of 5.31% and a net margin of 4.03%. The company had revenue of $324.34 million during the quarter, compared to analysts’ expectations of $313.17 million. As a group, analysts forecast that J & J Snack Foods Corp. will post 3.15 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 11th. Investors of record on Monday, September 20th will be paid a $0.633 dividend. The ex-dividend date is Friday, September 17th. This represents a $2.53 annualized dividend and a yield of 1.61%. J & J Snack Foods’s payout ratio is currently 227.93%.
In related news, SVP Robert Joseph Pape sold 5,840 shares of the company’s stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $162.16, for a total value of $947,014.40. Following the completion of the transaction, the senior vice president now directly owns 6,470 shares in the company, valued at $1,049,175.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 21.00% of the company’s stock.
About J & J Snack Foods
J&J Snack Foods Corp. manufactures 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 juice treats and desserts, churros, dough enrobed handheld products, and baked goods.
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