Corient Private Wealth LP Takes $3.82 Million Position in J & J Snack Foods Corp. $JJSF

Key Points

• Corient Private Wealth LP acquired a new $3.82 million stake in J & J Snack Foods, purchasing 52,069 shares, while institutional investors collectively own 76.04% of the company.
• Analyst sentiment is mixed: Jefferies upgraded the stock to “buy” and raised its target to $101, while other firms issued “sell” or “strong sell” views. The consensus rating is “Hold,” with an average price target of $110.50.
• J & J Snack Foods exceeded quarterly EPS expectations, reporting $1.96 versus the $1.70 consensus, although revenue fell 6.3% year over year. The company declared a quarterly dividend of $0.80 per share, representing a 3.7% yield.

Corient Private Wealth LP acquired a new stake in J & J Snack Foods Corp. (NASDAQ:JJSF - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,069 shares of the company's stock, valued at approximately $3,824,000. Corient Private Wealth LP owned about 0.28% of J & J Snack Foods as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Nicolet Advisory Services LLC increased its stake in J & J Snack Foods by 5.8% during the third 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 raised its position in J & J Snack Foods by 58.4% in 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 period. LPL Financial LLC lifted its stake in shares of J & J Snack Foods by 3.9% in the 4th 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 lifted its stake in shares of J & J Snack Foods by 485.1% in the 4th quarter. Allworth Financial LP now owns 275 shares of the company's stock valued at $25,000 after purchasing an additional 228 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of J & J Snack Foods by 52.7% during the 1st 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. 76.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Jefferies Financial Group raised J & J Snack Foods from a "hold" rating to a "buy" rating and raised their price objective for the stock from $81.00 to $101.00 in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of J & J Snack Foods in a research note on Wednesday, June 24th. Zacks Research downgraded shares of J & J Snack Foods from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 7th. Finally, Benchmark reduced their price target 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 research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $110.50.

J & J Snack Foods Trading Down 1.3%

JJSF opened at $87.01 on Wednesday. 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 quick ratio of 1.47, a current ratio of 2.34 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $81.52 and a 200-day simple moving average of $80.25. The firm has a market cap 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 posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.26. J & J Snack Foods had a return on equity of 8.93% and a net margin of 3.23%.The firm had revenue of $425.96 million for the quarter, compared to the consensus estimate of $427.65 million. During the same quarter in the previous year, the business earned $2.00 EPS. The company's quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities analysts expect that J & J Snack Foods Corp. will post 3.98 earnings per share for the current year.

J & J Snack Foods Dividend Announcement

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

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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