Bryce Point Capital LLC Makes New Investment in J & J Snack Foods Corp. (NASDAQ:JJSF)

Key Points

• Bryce Point Capital LLC has acquired a new position in J & J Snack Foods Corp., purchasing 2,836 shares valued at approximately $369,000.
• Several analysts have decreased their price targets for J & J Snack Foods, with Benchmark lowering its target from $165.00 to $150.00 and Wall Street Zen changing its rating from "hold" to "sell".
• J & J Snack Foods recently announced a quarterly dividend of $0.78 per share, reflecting a dividend yield of 2.65% and a payout ratio of 80.00%.

Bryce Point Capital LLC bought a new stake in J & J Snack Foods Corp. (NASDAQ:JJSF - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,836 shares of the company's stock, valued at approximately $369,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JJSF. Johnson Financial Group Inc. acquired a new position in shares of J & J Snack Foods in the 4th quarter valued at about $55,000. Huntington National Bank lifted its position in J & J Snack Foods by 25.4% during the fourth quarter. Huntington National Bank now owns 513 shares of the company's stock valued at $80,000 after buying an additional 104 shares in the last quarter. CWM LLC lifted its position in J & J Snack Foods by 301.3% during the first quarter. CWM LLC now owns 634 shares of the company's stock valued at $84,000 after buying an additional 476 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of J & J Snack Foods during the 4th quarter valued at $206,000. Finally, Summit Investment Advisors Inc. lifted its holdings in shares of J & J Snack Foods by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,596 shares of the company's stock valued at $248,000 after acquiring an additional 101 shares in the last quarter. Institutional investors and hedge funds own 76.04% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on JJSF shares. Benchmark reduced their target price on shares of J & J Snack Foods from $165.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen lowered J & J Snack Foods from a "hold" rating to a "sell" rating in a research report on Sunday, June 29th.

J & J Snack Foods Stock Down 2.5%

Shares of JJSF traded down $2.88 during trading on Thursday, reaching $112.89. The company's stock had a trading volume of 50,738 shares, compared to its average volume of 152,853. The company has a fifty day moving average of $115.33 and a two-hundred day moving average of $125.36. J & J Snack Foods Corp. has a twelve month low of $109.71 and a twelve month high of $180.80. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 28.85 and a beta of 0.44.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.34). J & J Snack Foods had a net margin of 4.79% and a return on equity of 8.78%. The company had revenue of $356.10 million during the quarter, compared to analyst estimates of $369.01 million. During the same quarter last year, the company posted $0.84 EPS. The business's revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities analysts forecast that J & J Snack Foods Corp. will post 4.75 EPS for the current fiscal year.

J & J Snack Foods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Tuesday, June 17th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Tuesday, June 17th. J & J Snack Foods's dividend payout ratio is currently 80.00%.

J & J Snack Foods Company 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.