Bank of New York Mellon Corp Purchases Shares of 178,555 J & J Snack Foods Corp. $JJSF

Key Points

• Bank of New York Mellon acquired 178,555 shares of J & J Snack Foods, worth approximately $13.1 million, giving it a 0.95% stake. Institutional investors collectively own 76.04% of the company.
• J & J Snack Foods beat quarterly EPS expectations, reporting $1.96 versus the $1.70 consensus, although revenue fell 6.3% year over year to $425.96 million.
• The company declared a quarterly dividend of $0.80 per share, or $3.20 annually, representing a 3.7% yield. Analyst sentiment remains mixed, with an average rating of “Hold” and an average price target of $110.50.

Bank of New York Mellon Corp acquired a new stake in shares of J & J Snack Foods Corp. (NASDAQ:JJSF - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 178,555 shares of the company's stock, valued at approximately $13,115,000. Bank of New York Mellon Corp owned 0.95% of J & J Snack Foods at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Allworth Financial LP raised its position in shares of 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 buying an additional 228 shares during the last quarter. Global Retirement Partners LLC increased its holdings in J & J Snack Foods by 1,133.3% in the 4th quarter. Global Retirement Partners LLC now owns 333 shares of the company's stock valued at $30,000 after acquiring an additional 306 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of J & J Snack Foods by 1,450.0% in the fourth quarter. IFP Advisors Inc now owns 341 shares of the company's stock worth $31,000 after purchasing an additional 319 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in J & J Snack Foods by 902.9% during the second quarter. EverSource Wealth Advisors LLC now owns 351 shares of the company's stock valued at $40,000 after buying an additional 316 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in J & J Snack Foods by 58.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 404 shares of the company's stock valued at $36,000 after buying an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 76.04% of the company's stock.

J & J Snack Foods Price Performance

Shares of JJSF stock opened at $87.01 on Wednesday. The stock has a 50 day moving average price of $81.52 and a 200 day moving average price of $80.25. J & J Snack Foods Corp. has a 52-week low of $68.87 and a 52-week high of $111.43. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.47 and a current ratio of 2.34. The firm has a market capitalization of $1.63 billion, a P/E ratio of 33.47 and a beta of 0.40.

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

J & J Snack Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, September 15th. J & J Snack Foods's dividend payout ratio (DPR) is presently 123.08%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on JJSF shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of J & J Snack Foods in a research report on Wednesday, June 24th. Zacks Research lowered shares of J & J Snack Foods from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 7th. Jefferies Financial Group upgraded shares of J & J Snack Foods from a "hold" rating to a "buy" rating and boosted their price objective for the company from $81.00 to $101.00 in a research report on Thursday, August 6th. Finally, Benchmark reduced their target price on shares of J & J Snack Foods from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $110.50.

About J & J Snack Foods

J & J Snack Foods NASDAQ: JJSF is a U.S.-based manufacturer and distributor of branded snack foods and frozen beverages. Headquartered in Pennsauken, New Jersey, the company develops, produces and markets a broad array of proprietary and licensed products for retail, concession and foodservice customers. Its offerings span soft pretzels, frozen novelties, real Italian ice, churros and packaged beverages under well-known names such as ICEE, SuperPretzel, Luigi's and ChurroMan.

Founded in 1971 by Gerald B.

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