J & J Snack Foods Corp. $JJSF Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in J & J Snack Foods Corp. by 5.5%, now owning 198,256 shares valued at $26.11 million.
• J & J Snack Foods recently announced an increase in its quarterly dividend to $0.80, representing an annualized rate of $3.20 and a yield of 2.9%.
• The company reported earnings of $2.00 per share for the last quarter, exceeding expectations, with a revenue of $454.3 million for the period.

Northern Trust Corp reduced its stake in shares of J & J Snack Foods Corp. (NASDAQ:JJSF - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 198,256 shares of the company's stock after selling 11,642 shares during the period. Northern Trust Corp owned 1.02% of J & J Snack Foods worth $26,114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of J & J Snack Foods by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 1,673,976 shares of the company's stock worth $220,496,000 after purchasing an additional 20,803 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in J & J Snack Foods by 1.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,629,344 shares of the company's stock valued at $216,035,000 after acquiring an additional 24,139 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in J & J Snack Foods by 21.1% in the first quarter. Westwood Holdings Group Inc. now owns 610,477 shares of the company's stock valued at $80,412,000 after acquiring an additional 106,459 shares during the last quarter. Bank of America Corp DE lifted its holdings in J & J Snack Foods by 0.6% in the fourth quarter. Bank of America Corp DE now owns 271,404 shares of the company's stock valued at $42,103,000 after acquiring an additional 1,530 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in J & J Snack Foods by 1.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 188,327 shares of the company's stock valued at $24,806,000 after acquiring an additional 2,658 shares during the last quarter. 76.04% of the stock is currently owned by institutional investors and hedge funds.

J & J Snack Foods Stock Performance

Shares of J & J Snack Foods stock traded down $0.84 during trading hours on Thursday, reaching $108.02. 36,276 shares of the company were exchanged, compared to its average volume of 154,284. J & J Snack Foods Corp. has a 1 year low of $106.40 and a 1 year high of $180.80. The stock's fifty day moving average is $114.50 and its 200 day moving average is $121.46. The firm has a market cap of $2.10 billion, a PE ratio of 25.18 and a beta of 0.42.

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

J & J Snack Foods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.80 per share. The ex-dividend date is Tuesday, September 16th. This is an increase from J & J Snack Foods's previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.0%. J & J Snack Foods's payout ratio is presently 74.59%.

Wall Street Analyst Weigh In

JJSF has been the topic of a number of recent analyst reports. Benchmark decreased their price objective 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. Wall Street Zen upgraded J & J Snack Foods from a "sell" rating to a "hold" rating in a report 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, J & J Snack Foods presently has a consensus rating of "Moderate Buy" and a consensus price target 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.