218,919 Shares of J & J Snack Foods Corp. $JJSF Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 218,919 shares of J&J Snack Foods in the second quarter, worth approximately $16.1 million and representing a 1.17% stake. Institutional investors collectively own 76.04% of the company.
• J&J Snack Foods reported quarterly EPS of $1.96, beating estimates of $1.70, while revenue fell 6.3% year over year to $425.96 million. Shares opened at $77.18, within a 52-week range of $68.87 to $99.14.
• The company declared a quarterly dividend of $0.80 per share, equivalent to an annualized $3.20 payout and a 4.1% yield. Analyst sentiment remains mixed, with an average rating of “Hold” and a consensus price target of $110.50.

Bank of America Corp DE bought a new position in shares of J & J Snack Foods Corp. (NASDAQ:JJSF - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 218,919 shares of the company's stock, valued at approximately $16,080,000. Bank of America Corp DE owned 1.17% of J & J Snack Foods as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of JJSF. Allworth Financial LP lifted its position in J & J Snack Foods by 485.1% during the fourth quarter. Allworth Financial LP now owns 275 shares of the company's stock valued at $25,000 after purchasing an additional 228 shares during the period. IFP Advisors Inc grew its position in J & J Snack Foods by 1,450.0% during the 4th quarter. IFP Advisors Inc now owns 341 shares of the company's stock worth $31,000 after purchasing an additional 319 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of J & J Snack Foods during the 2nd quarter valued at about $39,000. Rockefeller Capital Management L.P. raised its stake in shares of J & J Snack Foods by 562.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 570 shares of the company's stock valued at $52,000 after buying an additional 484 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of J & J Snack Foods by 52.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 661 shares of the company's stock valued at $52,000 after buying an additional 228 shares during the period. Hedge funds and other institutional investors own 76.04% of the company's stock.

J & J Snack Foods Price Performance

Shares of J & J Snack Foods stock opened at $77.18 on Friday. The firm has a market cap of $1.45 billion, a PE ratio of 29.68 and a beta of 0.40. The business has a 50-day moving average price of $83.52 and a 200 day moving average price of $79.74. The company has a quick ratio of 1.47, a current ratio of 2.34 and a debt-to-equity ratio of 0.03. J & J Snack Foods Corp. has a twelve month low of $68.87 and a twelve month high of $99.14.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.26. J & J Snack Foods had a return on equity of 8.93% and a net margin of 3.23%.The business had revenue of $425.96 million during the quarter, compared to analysts' expectations of $427.65 million. During the same period in the previous year, the business earned $2.00 earnings per share. The business's revenue was down 6.3% compared to the same quarter last year. Sell-side analysts predict that J & J Snack Foods Corp. will post 3.98 earnings per share for the current fiscal year.

J & J Snack Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.80 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.20 dividend on an annualized basis and a yield of 4.1%. J & J Snack Foods's dividend payout ratio is currently 123.08%.

Analyst Ratings Changes

A number of analysts have recently commented on JJSF shares. Jefferies Financial Group upgraded J & J Snack Foods from a "hold" rating to a "buy" rating and upped their target price for the stock from $81.00 to $101.00 in a research note on Thursday, August 6th. Weiss Ratings reissued a "sell (d+)" rating on shares of J & J Snack Foods in a report on Monday. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $110.50.

About J & J Snack Foods

J&J Snack Foods Corp. develops, manufactures and distributes snack foods and frozen beverages for foodservice, retail and concession customers. Its product portfolio includes soft pretzels, churros, funnel cakes, cookies, baked goods, frozen novelties, Italian ice and frozen carbonated beverages.

The company markets products under brands including SUPERPRETZEL, ICEE, Luigi's Real Italian Ice, Dippin' Dots and Hola Churros, as well as through customer and private-label offerings. Its products are sold through venues such as restaurants, schools, theaters, stadiums, amusement parks and other entertainment locations, in addition to grocery and convenience channels.

Founded in 1971 by Gerald B.

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