Ameriprise Financial Inc. Cuts Stake in J&J Snack Foods Corp. (NASDAQ:JJSF)

Ameriprise Financial Inc. reduced its position in J&J Snack Foods Corp. (NASDAQ:JJSF) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,678 shares of the company’s stock after selling 1,009 shares during the quarter. Ameriprise Financial Inc. owned about 0.19% of J&J Snack Foods worth $5,690,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of JJSF. Smartleaf Asset Management LLC grew its holdings in shares of J&J Snack Foods by 163.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 319 shares of the company’s stock valued at $50,000 after buying an additional 198 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of J&J Snack Foods during the fourth quarter valued at $55,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of J&J Snack Foods during the fourth quarter valued at $74,000. Huntington National Bank grew its holdings in shares of J&J Snack Foods by 25.4% during the fourth quarter. Huntington National Bank now owns 513 shares of the company’s stock valued at $80,000 after buying an additional 104 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of J&J Snack Foods by 27.4% during the fourth quarter. Blue Trust Inc. now owns 498 shares of the company’s stock valued at $86,000 after buying an additional 107 shares during the last quarter. 76.04% of the stock is owned by hedge funds and other institutional investors.

J&J Snack Foods Stock Performance

NASDAQ:JJSF opened at $111.46 on Friday. J&J Snack Foods Corp. has a one year low of $111.11 and a one year high of $180.80. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 25.68 and a beta of 0.49. The firm’s fifty day moving average is $126.93 and its two-hundred day moving average is $141.68.

J&J Snack Foods (NASDAQ:JJSF) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.34). J&J Snack Foods had a net margin of 5.31% and a return on equity of 9.84%. The business had revenue of $356.10 million during the quarter, compared to analysts’ expectations of $369.01 million. During the same period in the previous year, the company posted $0.84 earnings per share. J&J Snack Foods’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities research analysts predict that J&J Snack Foods Corp. will post 4.75 earnings per share for the current fiscal year.

J&J Snack Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Tuesday, June 17th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.80%. The ex-dividend date is Tuesday, June 17th. J&J Snack Foods’s payout ratio is 80.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Benchmark dropped their price objective on shares of 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. Jefferies Financial Group dropped their price objective on shares of J&J Snack Foods from $175.00 to $135.00 and set a “hold” rating on the stock in a report on Tuesday, February 18th.

J&J Snack Foods Profile

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.