Hsbc Holdings PLC Invests $551,000 in J & J Snack Foods Corp. $JJSF

Hsbc Holdings PLC bought a new stake in J & J Snack Foods Corp. (NASDAQ:JJSF) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,860 shares of the company’s stock, valued at approximately $551,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Allworth Financial LP grew its stake in J & J Snack Foods by 485.1% during the 4th quarter. Allworth Financial LP now owns 275 shares of the company’s stock valued at $25,000 after acquiring an additional 228 shares in the last quarter. Global Retirement Partners LLC raised its holdings in J & J Snack Foods by 1,133.3% in the 4th quarter. Global Retirement Partners LLC now owns 333 shares of the company’s stock valued at $30,000 after acquiring an additional 306 shares during the last quarter. IFP Advisors Inc raised its holdings in J & J Snack Foods by 1,450.0% in the 4th quarter. IFP Advisors Inc now owns 341 shares of the company’s stock valued at $31,000 after acquiring an additional 319 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in J & J Snack Foods by 58.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 404 shares of the company’s stock worth $36,000 after purchasing an additional 149 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in J & J Snack Foods by 902.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 351 shares of the company’s stock worth $40,000 after purchasing an additional 316 shares in the last quarter. 76.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on JJSF. Zacks Research lowered J & J Snack Foods from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of J & J Snack Foods in a research report on Wednesday, June 24th. Finally, Benchmark lowered their price objective on J & J Snack Foods from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $120.00.

J & J Snack Foods Price Performance

Shares of JJSF stock opened at $76.50 on Friday. The firm’s 50-day moving average is $76.12 and its two-hundred day moving average is $80.85. J & J Snack Foods Corp. has a 12 month low of $68.87 and a 12 month high of $129.24. The company has a market capitalization of $1.43 billion, a PE ratio of 25.67 and a beta of 0.38.

J & J Snack Foods (NASDAQ:JJSF) last posted its earnings results on Wednesday, May 6th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. J & J Snack Foods had a net margin of 3.75% and a return on equity of 9.01%. The company had revenue of $344.82 million for the quarter, compared to analyst estimates of $349.67 million. During the same period in the previous year, the business posted $0.35 EPS. J & J Snack Foods’s revenue was down 3.2% on a year-over-year basis. Sell-side analysts forecast that J & J Snack Foods Corp. will post 4 EPS for the current year.

J & J Snack Foods Dividend Announcement

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

About J & J Snack Foods

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.