Allspring Global Investments Holdings LLC Boosts Holdings in J & J Snack Foods Corp. $JJSF

Key Points

• Allspring Global Investments Holdings LLC increased its holdings in J & J Snack Foods Corp. by 3.6%, now owning 1,688,261 shares worth approximately $200 million.
• J & J Snack Foods has received analyst ratings with one Buy, two Hold, and an average target price of $142.50.
• The company recently raised its quarterly dividend from $0.78 to $0.80, reflecting a yield of 3.4% and a payout ratio of 74.59%.

Allspring Global Investments Holdings LLC boosted its position in shares of J & J Snack Foods Corp. (NASDAQ:JJSF - Free Report) by 3.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,688,261 shares of the company's stock after acquiring an additional 58,917 shares during the period. Allspring Global Investments Holdings LLC owned 8.68% of J & J Snack Foods worth $200,143,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nicolet Advisory Services LLC raised its holdings in shares of J & J Snack Foods by 4.8% in the first quarter. Nicolet Advisory Services LLC now owns 2,400 shares of the company's stock worth $318,000 after buying an additional 110 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of J & J Snack Foods by 3.0% in the first quarter. Avantax Advisory Services Inc. now owns 4,835 shares of the company's stock worth $637,000 after buying an additional 140 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of J & J Snack Foods by 31.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 613 shares of the company's stock worth $81,000 after buying an additional 145 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of J & J Snack Foods by 94.4% in the second quarter. GAMMA Investing LLC now owns 700 shares of the company's stock worth $79,000 after buying an additional 340 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of J & J Snack Foods by 198.9% in the second quarter. Parallel Advisors LLC now owns 529 shares of the company's stock worth $60,000 after buying an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 76.04% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on JJSF shares. Wall Street Zen raised shares of J & J Snack Foods from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of J & J Snack Foods in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, J & J Snack Foods has an average rating of "Hold" and a consensus target price of $142.50.

J & J Snack Foods Price Performance

NASDAQ:JJSF opened at $94.09 on Monday. The firm has a market capitalization of $1.83 billion, a P/E ratio of 21.93 and a beta of 0.38. J & J Snack Foods Corp. has a 1-year low of $92.93 and a 1-year high of $180.80. The company's fifty day moving average price is $105.79 and its 200-day moving average price is $115.45.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.74 by $0.26. The firm had revenue of $454.30 million for the quarter, compared to analyst estimates of $445.98 million. J & J Snack Foods had a net margin of 5.24% and a return on equity of 8.79%. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.98 earnings per share. Equities analysts anticipate that J & J Snack Foods Corp. will post 4.75 EPS for the current fiscal year.

J & J Snack Foods Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 16th were paid a $0.80 dividend. The ex-dividend date was Tuesday, September 16th. This is an increase from J & J Snack Foods's previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.4%. J & J Snack Foods's dividend payout ratio (DPR) is currently 74.59%.

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.

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