Crestline Management LP Makes New Investment in J&J Snack Foods Corp. (NASDAQ:JJSF)

Crestline Management LP acquired a new position in shares of J&J Snack Foods Corp. (NASDAQ:JJSF - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 3,108 shares of the company's stock, valued at approximately $482,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its holdings in shares of J&J Snack Foods by 163.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 319 shares of the company's stock valued at $50,000 after buying an additional 198 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of J&J Snack Foods in the 4th quarter valued at approximately $55,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of J&J Snack Foods in the 4th quarter valued at approximately $74,000. Huntington National Bank lifted its holdings in shares of J&J Snack Foods by 25.4% in the 4th quarter. Huntington National Bank now owns 513 shares of the company's stock valued at $80,000 after buying an additional 104 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of J&J Snack Foods by 27.4% in the 4th quarter. Blue Trust Inc. now owns 498 shares of the company's stock valued at $86,000 after buying an additional 107 shares during the period. 76.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on JJSF. Jefferies Financial Group reduced their price target on J&J Snack Foods from $175.00 to $135.00 and set a "hold" rating for the company in a report on Tuesday, February 18th. Benchmark reduced their price target on J&J Snack Foods from $165.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, May 7th.

J&J Snack Foods Stock Performance

JJSF stock traded up $0.74 during midday trading on Friday, hitting $116.88. 48,363 shares of the stock were exchanged, compared to its average volume of 151,414. The stock's 50-day moving average price is $129.29 and its 200-day moving average price is $143.79. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 26.93 and a beta of 0.49. J&J Snack Foods Corp. has a fifty-two week low of $112.39 and a fifty-two week high of $180.80.

J&J Snack Foods (NASDAQ:JJSF - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.34). The firm had revenue of $356.10 million for the quarter, compared to analyst estimates of $369.01 million. J&J Snack Foods had a return on equity of 9.84% and a net margin of 5.31%. The business's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 earnings per share. Research analysts anticipate that J&J Snack Foods Corp. will post 4.75 EPS for the current year.

J&J Snack Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Tuesday, June 17th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.67%. J&J Snack Foods's payout ratio is currently 80.00%.

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.