Public Sector Pension Investment Board Has $6.52 Million Stock Position in J & J Snack Foods Corp. $JJSF

Key Points

• The Public Sector Pension Investment Board increased its stake in J & J Snack Foods Corp. by 27.9%, owning approximately 0.25% of the company worth $6.5 million after acquiring additional shares.
• J & J Snack Foods reported earnings of $2.00 per share, beating analysts' expectations and generating revenue of $454.3 million for the quarter, a 3.3% year-over-year increase.
• The company declared a quarterly dividend increase to $0.80 per share, with a payout ratio of 72.73%, reflecting a 2.9% dividend yield.

Public Sector Pension Investment Board grew its stake in shares of J & J Snack Foods Corp. (NASDAQ:JJSF - Free Report) by 27.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,489 shares of the company's stock after buying an additional 10,810 shares during the period. Public Sector Pension Investment Board owned approximately 0.25% of J & J Snack Foods worth $6,519,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. lifted its holdings in shares of J & J Snack Foods by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,596 shares of the company's stock valued at $248,000 after purchasing an additional 101 shares in the last quarter. Nicolet Advisory Services LLC lifted 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 valued at $318,000 after purchasing an additional 110 shares in the last quarter. Avantax Advisory Services Inc. lifted 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 valued at $637,000 after purchasing an additional 140 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of J & J Snack Foods by 18.3% during the 4th quarter. Bank of Montreal Can now owns 2,002 shares of the company's stock valued at $311,000 after purchasing an additional 310 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in J & J Snack Foods by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,682 shares of the company's stock valued at $1,347,000 after acquiring an additional 332 shares in the last quarter. Institutional investors own 76.04% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Benchmark cut their target price on J & J Snack Foods from $165.00 to $150.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen upgraded J & J Snack Foods from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $142.50.

J & J Snack Foods Stock Performance

NASDAQ JJSF traded up $0.09 during trading on Thursday, hitting $112.42. The stock had a trading volume of 98,862 shares, compared to its average volume of 175,018. The company has a market capitalization of $2.19 billion, a PE ratio of 26.21 and a beta of 0.45. J & J Snack Foods Corp. has a 12 month low of $106.40 and a 12 month high of $180.80. The company's 50-day moving average price is $114.67 and its two-hundred day moving average price is $122.25.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.26. The firm had revenue of $454.30 million for the quarter, compared to analyst estimates of $445.98 million. J & J Snack Foods had a return on equity of 8.79% and a net margin of 5.24%.The business's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.98 EPS. As a group, equities analysts anticipate 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.80 per share. This is a positive change from J & J Snack Foods's previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $3.20 annualized dividend and a dividend yield of 2.8%. J & J Snack Foods's payout ratio is presently 72.73%.

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.