Envestnet Asset Management Inc. Boosts Stake in J & J Snack Foods Corp. (NASDAQ:JJSF)

Key Points

• Envestnet Asset Management Inc. increased its stake in J & J Snack Foods Corp. by 10.1%, acquiring an additional 2,431 shares, bringing its total to 26,615 shares valued at approximately $3.5 million.
• Several other institutional investors modified their holdings, contributing to institutional ownership of the company now standing at 76.04%.
• J & J Snack Foods recently announced a quarterly dividend of $0.78 per share, resulting in an annualized dividend yield of 2.65% and a payout ratio of 80.00%.

Envestnet Asset Management Inc. grew its position in J & J Snack Foods Corp. (NASDAQ:JJSF - Free Report) by 10.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,615 shares of the company's stock after purchasing an additional 2,431 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.14% of J & J Snack Foods worth $3,506,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of JJSF. Johnson Financial Group Inc. purchased a new position in shares of J & J Snack Foods in the 4th quarter valued at about $55,000. Huntington National Bank grew its position in shares of J & J Snack Foods by 25.4% in the 4th quarter. Huntington National Bank now owns 513 shares of the company's stock valued at $80,000 after buying an additional 104 shares during the last quarter. Virtu Financial LLC purchased a new stake in J & J Snack Foods in the fourth quarter valued at $206,000. Summit Investment Advisors Inc. grew its holdings in shares of J & J Snack Foods by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,596 shares of the company's stock worth $248,000 after purchasing an additional 101 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of J & J Snack Foods by 1,200.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,807 shares of the company's stock valued at $280,000 after purchasing an additional 1,668 shares during the last quarter. 76.04% of the stock is owned by hedge funds and other institutional investors.

J & J Snack Foods Price Performance

Shares of JJSF stock traded down $0.93 during mid-day trading on Wednesday, hitting $115.77. The stock had a trading volume of 156,755 shares, compared to its average volume of 123,321. J & J Snack Foods Corp. has a fifty-two week low of $109.71 and a fifty-two week high of $180.80. The company's 50-day simple moving average is $115.33 and its 200-day simple moving average is $125.36. The firm has a market cap of $2.25 billion, a PE ratio of 29.68 and a beta of 0.44.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.34). J & J Snack Foods had a return on equity of 8.78% and a net margin of 4.79%. The business had revenue of $356.10 million for the quarter, compared to analyst estimates of $369.01 million. During the same quarter in the previous year, the firm posted $0.84 EPS. The business's revenue for the quarter was down 1.0% on a year-over-year basis. On average, analysts expect that J & J Snack Foods Corp. will post 4.75 EPS for the current year.

J & J Snack Foods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Tuesday, June 17th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Tuesday, June 17th. J & J Snack Foods's payout ratio is currently 80.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on JJSF shares. Benchmark reduced their price objective on J & J Snack Foods from $165.00 to $150.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen cut shares of J & J Snack Foods from a "hold" rating to a "sell" rating in a report on Sunday, June 29th.

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.