American Century Companies Inc. Raises Stock Position in J & J Snack Foods Corp. $JJSF

Key Points

• American Century Companies Inc. increased its stake in J & J Snack Foods Corp. by 184.6% during the first quarter, owning 9,765 shares valued at approximately $1.29 million.
• J & J Snack Foods recently declared a quarterly dividend of $0.80, up from $0.78, indicating a healthy dividend yield of 2.9%.
• Analysts currently have a consensus rating of "Moderate Buy" for J & J Snack Foods, with an average price target of $142.50.

American Century Companies Inc. lifted its stake in J & J Snack Foods Corp. (NASDAQ:JJSF - Free Report) by 184.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,765 shares of the company's stock after buying an additional 6,334 shares during the period. American Century Companies Inc. owned approximately 0.05% of J & J Snack Foods worth $1,286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. CWM LLC increased its holdings in shares of J & J Snack Foods by 301.3% during the first quarter. CWM LLC now owns 634 shares of the company's stock worth $84,000 after buying an additional 476 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of J & J Snack Foods during the first quarter worth $232,000. MQS Management LLC acquired a new stake in J & J Snack Foods in the first quarter valued at $275,000. Gotham Asset Management LLC increased its holdings in J & J Snack Foods by 56.5% in the fourth quarter. Gotham Asset Management LLC now owns 1,818 shares of the company's stock valued at $282,000 after purchasing an additional 656 shares during the period. Finally, Nicolet Advisory Services LLC increased its holdings in 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 valued at $318,000 after purchasing an additional 110 shares during the period. 76.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded J & J Snack Foods from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $142.50.

J & J Snack Foods Price Performance

Shares of JJSF stock traded down $1.67 on Tuesday, reaching $106.68. 14,217 shares of the company were exchanged, compared to its average volume of 153,336. J & J Snack Foods Corp. has a one year low of $106.40 and a one year high of $180.80. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 24.96 and a beta of 0.42. The company has a 50-day moving average of $114.20 and a 200-day moving average of $121.05.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last posted its earnings results 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 company 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 firm's revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.98 EPS. As a group, sell-side analysts predict that J & J Snack Foods Corp. will post 4.75 EPS for the current year.

J & J Snack Foods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 16th will be paid a $0.80 dividend. This is a boost from J & J Snack Foods's previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 16th. J & J Snack Foods's payout ratio is presently 72.73%.

About J & J Snack Foods

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.