J & J Snack Foods Corp. $JJSF Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in J & J Snack Foods Corp. by 1.3%, owning approximately 1.67 million shares valued at $220 million.
• J & J Snack Foods recently reported an EPS of $2.00, surpassing analysts' expectations of $1.74, and achieved quarterly revenue of $454.3 million, up 3.3% year-over-year.
• The company has raised its quarterly dividend to $0.80 per share, reflecting a 2.8% yield, with the upcoming payment set for October 7th.

Vanguard Group Inc. raised its position in J & J Snack Foods Corp. (NASDAQ:JJSF - Free Report) by 1.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,673,976 shares of the company's stock after purchasing an additional 20,803 shares during the period. Vanguard Group Inc. owned 8.59% of J & J Snack Foods worth $220,496,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. raised its holdings in shares of J & J Snack Foods by 21.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 610,477 shares of the company's stock worth $80,412,000 after acquiring an additional 106,459 shares during the period. US Bancorp DE raised its holdings in shares of J & J Snack Foods by 100.6% during the 1st quarter. US Bancorp DE now owns 5,200 shares of the company's stock worth $685,000 after acquiring an additional 2,608 shares during the period. Nicolet Advisory Services LLC raised its holdings in shares of J & J Snack Foods by 4.8% during the 1st quarter. Nicolet Advisory Services LLC now owns 2,400 shares of the company's stock worth $318,000 after acquiring an additional 110 shares during the period. Bryce Point Capital LLC purchased a new position in shares of J & J Snack Foods during the 1st quarter worth $369,000. Finally, Avantax Advisory Services Inc. raised its holdings in shares of J & J Snack Foods by 3.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 4,835 shares of the company's stock worth $637,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 76.04% of the company's stock.

J & J Snack Foods Price Performance

Shares of NASDAQ:JJSF traded down $0.42 during midday trading on Monday, reaching $115.54. 125,762 shares of the company's stock were exchanged, compared to its average volume of 175,597. The firm's 50 day simple moving average is $114.72 and its two-hundred day simple moving average is $122.13. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 26.93 and a beta of 0.45. J & J Snack Foods Corp. has a fifty-two week low of $106.40 and a fifty-two week high of $180.80.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.74 by $0.26. The firm had revenue of $454.30 million during the quarter, compared to the consensus estimate of $445.98 million. J & J Snack Foods had a return on equity of 8.79% and a net margin of 5.24%.The company's quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company earned $1.98 EPS. Equities research analysts predict that J & J Snack Foods Corp. will post 4.75 earnings per share for the current fiscal year.

J & J Snack Foods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 16th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 16th. This is a positive change from J & J Snack Foods's previous quarterly dividend of $0.78. J & J Snack Foods's dividend payout ratio is 72.73%.

Analysts Set New Price Targets

JJSF has been the topic of several analyst reports. Wall Street Zen upgraded J & J Snack Foods from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Benchmark reduced their price target on J & J Snack Foods from $165.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $142.50.

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.