Ieq Capital LLC Invests $1.56 Million in J & J Snack Foods Corp. $JJSF

Key Points

• Ieq Capital LLC acquired 21,293 shares of J & J Snack Foods worth approximately $1.56 million, giving it a 0.11% stake. Institutional investors collectively own 76.04% of JJSF.
• Analyst sentiment is mixed: Jefferies upgraded the stock to “buy” with a $101 price target, while Zacks and Weiss issued bearish views. The consensus rating remains “Hold”, with an average target of $110.50.
• JJSF exceeded quarterly EPS expectations ($1.96 versus $1.70), but revenue fell 6.3% year over year to $425.96 million. The company declared a quarterly dividend of $0.80 per share, representing a 3.6% annualized yield.

Ieq Capital LLC acquired a new position in shares of J & J Snack Foods Corp. (NASDAQ:JJSF - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 21,293 shares of the company's stock, valued at approximately $1,564,000. Ieq Capital LLC owned about 0.11% of J & J Snack Foods as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of JJSF. Allworth Financial LP increased its holdings in J & J Snack Foods by 485.1% during the 4th quarter. Allworth Financial LP now owns 275 shares of the company's stock valued at $25,000 after acquiring an additional 228 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of J & J Snack Foods by 1,133.3% in the fourth quarter. Global Retirement Partners LLC now owns 333 shares of the company's stock valued at $30,000 after purchasing an additional 306 shares in the last quarter. IFP Advisors Inc lifted 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 valued at $31,000 after purchasing an additional 319 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of 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 last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of J & J Snack Foods during the 2nd quarter worth approximately $39,000. 76.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

J & J Snack Foods Stock Performance

Shares of NASDAQ JJSF opened at $89.35 on Wednesday. The company has a 50-day simple moving average of $80.06 and a 200-day simple moving average of $80.06. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.34 and a quick ratio of 1.47. The company has a market cap of $1.68 billion, a PE ratio of 34.37 and a beta of 0.38. J & J Snack Foods Corp. has a 12 month low of $68.87 and a 12 month high of $115.72.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last announced 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 net margin of 3.23% and a return on equity of 8.93%. The business had revenue of $425.96 million for the quarter, compared to the consensus estimate of $427.65 million. During the same quarter in the prior year, the firm posted $2.00 earnings per share. The company's quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities analysts anticipate that J & J Snack Foods Corp. will post 3.98 earnings per share for the current year.

J & J Snack Foods Announces Dividend

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. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 15th. J & J Snack Foods's dividend payout ratio is currently 123.08%.

J & J Snack Foods 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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