OMERS ADMINISTRATION Corp Buys New Stake in J & J Snack Foods Corp. $JJSF

Key Points

• OMERS ADMINISTRATION Corp acquired a new position in J & J Snack Foods Corp., purchasing 5,500 shares valued at approximately $724,000.
• J & J Snack Foods recently announced a dividend increase from $0.78 to $0.80 per share, reflecting an annualized yield of 2.9%.
• Analysts have mixed ratings for J & J Snack Foods, with price targets adjusted; Benchmark cut its target from $165.00 to $150.00 while the average price target is now $142.50.

OMERS ADMINISTRATION Corp acquired a new stake in J & J Snack Foods Corp. (NASDAQ:JJSF - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,500 shares of the company's stock, valued at approximately $724,000.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in J & J Snack Foods by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 77,823 shares of the company's stock valued at $10,251,000 after acquiring an additional 2,026 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in J & J Snack Foods by 10.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 26,615 shares of the company's stock valued at $3,506,000 after acquiring an additional 2,431 shares during the last quarter. Raymond James Financial Inc. raised its holdings in J & J Snack Foods by 877.3% in the 1st quarter. Raymond James Financial Inc. now owns 42,484 shares of the company's stock valued at $5,597,000 after acquiring an additional 38,137 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in J & J Snack Foods by 1.0% in the 1st quarter. Bank of New York Mellon Corp now owns 162,460 shares of the company's stock valued at $21,399,000 after acquiring an additional 1,565 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in J & J Snack Foods by 4.6% in the 1st quarter. Invesco Ltd. now owns 78,008 shares of the company's stock valued at $10,275,000 after acquiring an additional 3,442 shares during the last quarter. Institutional investors and hedge funds own 76.04% of the company's stock.

J & J Snack Foods Stock Up 0.6%

Shares of J & J Snack Foods stock traded up $0.67 during mid-day trading on Friday, hitting $108.97. The stock had a trading volume of 55,094 shares, compared to its average volume of 154,056. The firm has a 50-day moving average of $114.35 and a two-hundred day moving average of $121.34. J & J Snack Foods Corp. has a 12-month low of $106.40 and a 12-month high of $180.80. The firm has a market cap of $2.12 billion, a P/E ratio of 25.38 and a beta of 0.42.

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, beating the consensus estimate of $1.74 by $0.26. J & J Snack Foods had a net margin of 5.24% and a return on equity of 8.79%. The business had revenue of $454.30 million during the quarter, compared to analysts' expectations of $445.98 million. During the same quarter in the prior year, the company posted $1.98 EPS. The business's revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 16th will be issued a $0.80 dividend. This is a boost from J & J Snack Foods's previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, September 16th. This represents a $3.20 annualized dividend and a yield of 2.9%. J & J Snack Foods's payout ratio is 72.73%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of 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 assigned a Hold rating to the company. According to MarketBeat.com, the company 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.