Corient Private Wealth LP Raises Holdings in J & J Snack Foods Corp. $JJSF

Key Points

• Corient Private Wealth increased its J & J Snack Foods stake by 55.5% in the second quarter, bringing its holdings to 52,213 shares valued at approximately $3.84 million. Institutional investors collectively own 76.04% of the company.
• Analyst sentiment remains mixed: Jefferies upgraded JJSF to “buy” with a $101 price target, while Weiss Ratings reiterated a “sell” rating. The consensus rating is “hold,” with an average price target of $110.50.
• J & J Snack Foods exceeded quarterly EPS expectations at $1.96 versus $1.70, though revenue fell 6.3% year over year to $425.96 million. The company declared a quarterly dividend of $0.80, representing a 4.1% yield, despite a payout ratio above 100%.

Corient Private Wealth LP increased its stake in shares of J & J Snack Foods Corp. (NASDAQ:JJSF - Free Report) by 55.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,213 shares of the company's stock after acquiring an additional 18,633 shares during the quarter. Corient Private Wealth LP owned approximately 0.28% of J & J Snack Foods worth $3,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of JJSF. Allworth Financial LP grew its holdings in J & J Snack Foods by 485.1% in the 4th quarter. Allworth Financial LP now owns 275 shares of the company's stock worth $25,000 after acquiring an additional 228 shares during the last quarter. IFP Advisors Inc lifted its stake in 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 acquiring an additional 319 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in J & J Snack Foods in the second quarter worth $33,000. Meeder Asset Management Inc. purchased a new stake in J & J Snack Foods in the second quarter worth $39,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in J & J Snack Foods by 562.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 570 shares of the company's stock valued at $52,000 after acquiring an additional 484 shares in the last quarter. 76.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on JJSF shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of J & J Snack Foods in a report on Wednesday, June 24th. Jefferies Financial Group upgraded shares of J & J Snack Foods from a "hold" rating to a "buy" rating and lifted their target price for the company from $81.00 to $101.00 in a report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $110.50.

J & J Snack Foods Price Performance

NASDAQ JJSF opened at $77.97 on Friday. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 29.99 and a beta of 0.40. The stock has a 50-day moving average of $83.41 and a 200 day moving average of $80.02. J & J Snack Foods Corp. has a one year low of $68.87 and a one year high of $102.82. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.47 and a current ratio of 2.34.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.26. The business 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.00 EPS. On average, sell-side analysts forecast that J & J Snack Foods Corp. will post 3.98 EPS for the current year.

J & J Snack Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Tuesday, September 15th. J & J Snack Foods's dividend payout ratio is 123.08%.

J & J Snack Foods Profile

J&J Snack Foods Corp. develops, manufactures and distributes snack foods and frozen beverages for foodservice, retail and concession customers. Its product portfolio includes soft pretzels, churros, funnel cakes, cookies, baked goods, frozen novelties, Italian ice and frozen carbonated beverages.

The company markets products under brands including SUPERPRETZEL, ICEE, Luigi's Real Italian Ice, Dippin' Dots and Hola Churros, as well as through customer and private-label offerings. Its products are sold through venues such as restaurants, schools, theaters, stadiums, amusement parks and other entertainment locations, in addition to grocery and convenience channels.

Founded in 1971 by Gerald B.

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