Principal Financial Group Inc. Buys 18,424 Shares of J & J Snack Foods Corp. $JJSF

Key Points

• Principal Financial Group increased its J & J Snack Foods stake by 24.7%, buying 18,424 shares to bring its holdings to 92,900 shares, valued at approximately $7.4 million. Institutional investors collectively own 76.04% of the company.
• J & J Snack Foods reported quarterly EPS of $0.40, slightly above estimates, while revenue of $344.82 million missed expectations and declined 3.2% year over year. The stock opened at $77.71, well below its 52-week high of $129.24.
• The company’s $0.80 quarterly dividend implies a 4.1% annual yield, but its 107.38% payout ratio exceeds earnings. Analyst sentiment remains cautious, with a consensus “Reduce” rating and a $120 price target.

Principal Financial Group Inc. raised its stake in J & J Snack Foods Corp. (NASDAQ:JJSF - Free Report) by 24.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,900 shares of the company's stock after purchasing an additional 18,424 shares during the quarter. Principal Financial Group Inc. owned 0.49% of J & J Snack Foods worth $7,364,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Allworth Financial LP grew its holdings in J & J Snack Foods by 485.1% during the fourth quarter. Allworth Financial LP now owns 275 shares of the company's stock worth $25,000 after buying an additional 228 shares in the last quarter. Global Retirement Partners LLC lifted its stake in J & J Snack Foods by 1,133.3% during the 4th quarter. Global Retirement Partners LLC now owns 333 shares of the company's stock valued at $30,000 after acquiring an additional 306 shares in the last quarter. IFP Advisors Inc lifted its stake in J & J Snack Foods by 1,450.0% during the 4th quarter. IFP Advisors Inc now owns 341 shares of the company's stock valued at $31,000 after acquiring an additional 319 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in J & J Snack Foods by 902.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 351 shares of the company's stock worth $40,000 after acquiring an additional 316 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in J & J Snack Foods by 58.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 404 shares of the company's stock worth $36,000 after acquiring an additional 149 shares during the last quarter. Institutional investors own 76.04% of the company's stock.

J & J Snack Foods Price Performance

Shares of J & J Snack Foods stock opened at $77.71 on Tuesday. J & J Snack Foods Corp. has a 1 year low of $68.87 and a 1 year high of $129.24. The firm has a market cap of $1.46 billion, a PE ratio of 26.08 and a beta of 0.38. The stock has a fifty day moving average price of $75.77 and a 200-day moving average price of $81.18.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.01. The company had revenue of $344.82 million for the quarter, compared to the consensus estimate of $349.67 million. J & J Snack Foods had a net margin of 3.75% and a return on equity of 9.01%. The firm's quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS. As a group, equities analysts anticipate that J & J Snack Foods Corp. will post 4 EPS for the current fiscal year.

J & J Snack Foods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 16th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Tuesday, June 16th. J & J Snack Foods's payout ratio is presently 107.38%.

Wall Street Analysts Forecast Growth

JJSF has been the subject of several analyst reports. Zacks Research downgraded shares of J & J Snack Foods from a "hold" rating to a "strong sell" rating in a report on Thursday, May 7th. Benchmark cut 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 report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of J & J Snack Foods in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $120.00.

J & J Snack Foods Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.