BlackRock Inc. Purchases New Stake in J & J Snack Foods Corp. $JJSF

Key Points

• BlackRock acquired a new 2.4 million-share stake in J & J Snack Foods during the second quarter, worth approximately $175.9 million and representing 12.77% of the company. Institutional investors collectively own 76.04% of JJSF.
• J & J Snack Foods reported quarterly EPS of $1.96, beating estimates of $1.70, while revenue declined 6.3% year over year to $425.96 million. Analysts project full-year EPS of $3.98.
• The company declared a quarterly dividend of $0.80 per share, or $3.20 annually, yielding 3.6%; however, its 123.08% payout ratio and mixed analyst views contribute to a consensus “Hold” rating with a $110.50 average price target.

BlackRock Inc. acquired 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 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,395,014 shares of the company's stock, valued at approximately $175,914,000. BlackRock Inc. owned about 12.77% of J & J Snack Foods as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Nicolet Advisory Services LLC increased its holdings in J & J Snack Foods by 5.8% in the 3rd quarter. Nicolet Advisory Services LLC now owns 2,592 shares of the company's stock worth $246,000 after acquiring an additional 143 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in J & J Snack Foods by 58.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 404 shares of the company's stock valued at $36,000 after purchasing an additional 149 shares during the last quarter. LPL Financial LLC lifted its holdings in J & J Snack Foods by 3.9% during the fourth quarter. LPL Financial LLC now owns 4,746 shares of the company's stock valued at $429,000 after purchasing an additional 178 shares during the last quarter. Allworth Financial LP boosted 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 worth $25,000 after purchasing an additional 228 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in J & J Snack Foods by 52.7% during the first quarter. EverSource Wealth Advisors LLC now owns 661 shares of the company's stock worth $52,000 after purchasing an additional 228 shares during the period. Institutional investors own 76.04% of the company's stock.

J & J Snack Foods Stock Performance

Shares of JJSF opened at $87.75 on Friday. J & J Snack Foods Corp. has a 12-month low of $68.87 and a 12-month high of $113.93. The company has a current ratio of 2.34, a quick ratio of 1.47 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.65 billion, a PE ratio of 33.75 and a beta of 0.38. The stock has a 50-day moving average price of $80.61 and a 200-day moving average price of $80.13.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.26. The company had revenue of $425.96 million during the quarter, compared to the consensus estimate of $427.65 million. J & J Snack Foods had a net margin of 3.23% and a return on equity of 8.93%. The firm's revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.00 EPS. As a group, equities analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 15th. J & J Snack Foods's dividend payout ratio is presently 123.08%.

Analysts Set New Price Targets

JJSF has been the subject of several recent research reports. Benchmark reduced their price target on J & J Snack Foods from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, May 11th. Weiss Ratings restated a "sell (d+)" rating on shares of J & J Snack Foods in a research note on Wednesday, June 24th. Zacks Research cut J & J Snack Foods from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 7th. Finally, Jefferies Financial Group raised shares of J & J Snack Foods from a "hold" rating to a "buy" rating and increased their price target for the stock from $81.00 to $101.00 in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $110.50.

J & J Snack Foods Company Profile

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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