Legal & General Group Plc Purchases Shares of 35,557 J & J Snack Foods Corp. $JJSF

Key Points

• Legal & General Group Plc purchased 35,557 shares of J & J Snack Foods worth approximately $2.6 million, giving it a 0.19% stake. Institutional investors collectively own 76.04% of the company.
• J & J Snack Foods reported quarterly EPS of $1.96, beating estimates of $1.70, though revenue fell 6.3% year over year to $425.96 million. The stock opened at $84.11, down 2.2%.
• The company declared a quarterly dividend of $0.80 per share, equivalent to an annualized $3.20 payout and a 3.8% yield. Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $110.50.

Legal & General Group Plc purchased a new stake in shares of J & J Snack Foods Corp. (NASDAQ:JJSF - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 35,557 shares of the company's stock, valued at approximately $2,612,000. Legal & General Group Plc owned about 0.19% of J & J Snack Foods at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP boosted its position in J & J Snack Foods by 485.1% during the 4th quarter. Allworth Financial LP now owns 275 shares of the company's stock worth $25,000 after acquiring an additional 228 shares during the period. Global Retirement Partners LLC increased its holdings in shares of J & J Snack Foods by 1,133.3% during 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 during the period. IFP Advisors Inc increased its holdings in shares of J & J Snack Foods by 1,450.0% during 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 during the period. EverSource Wealth Advisors LLC raised its stake in shares of J & J Snack Foods by 902.9% during the second quarter. EverSource Wealth Advisors LLC now owns 351 shares of the company's stock valued at $40,000 after purchasing an additional 316 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of J & J Snack Foods by 58.4% during 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 in the last quarter. 76.04% of the stock is currently owned by institutional investors and hedge funds.

J & J Snack Foods Trading Down 2.2%

J & J Snack Foods stock opened at $84.11 on Friday. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 32.35 and a beta of 0.40. J & J Snack Foods Corp. has a 1 year low of $68.87 and a 1 year high of $110.78. The firm's 50 day moving average price is $82.17 and its two-hundred day moving average price is $80.29. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.47 and a current ratio of 2.34.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.26. The business had revenue of $425.96 million during the quarter, compared to analyst estimates of $427.65 million. J & J Snack Foods had a return on equity of 8.93% and a net margin of 3.23%.The company's revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $2.00 EPS. On average, research analysts predict that J & J Snack Foods Corp. will post 3.98 EPS for the current fiscal year.

J & J Snack Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.20 dividend on an annualized basis and a yield of 3.8%. J & J Snack Foods's dividend payout ratio (DPR) is currently 123.08%.

Wall Street Analysts Forecast Growth

JJSF has been the subject of a number of recent analyst reports. Jefferies Financial Group upgraded shares of J & J Snack Foods from a "hold" rating to a "buy" rating and increased their target price for the company from $81.00 to $101.00 in a research report on Thursday, August 6th. Benchmark dropped 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 report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of J & J Snack Foods in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, J & J Snack Foods presently has an average rating of "Hold" and an average target price of $110.50.

About J & J Snack Foods

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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