Ballentine Partners LLC Buys New Stake in J & J Snack Foods Corp. $JJSF

Ballentine Partners LLC bought a new stake in J & J Snack Foods Corp. (NASDAQ:JJSF) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,068 shares of the company’s stock, valued at approximately $235,000.

Other large investors also recently bought and sold shares of the company. Parallel Advisors LLC boosted its stake in J & J Snack Foods by 198.9% in the second quarter. Parallel Advisors LLC now owns 529 shares of the company’s stock valued at $60,000 after acquiring an additional 352 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in J & J Snack Foods by 31.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 613 shares of the company’s stock valued at $81,000 after acquiring an additional 145 shares in the last quarter. CWM LLC boosted its stake in J & J Snack Foods by 301.3% in the first quarter. CWM LLC now owns 634 shares of the company’s stock valued at $84,000 after acquiring an additional 476 shares in the last quarter. GAMMA Investing LLC boosted its stake in J & J Snack Foods by 94.4% in the second quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock valued at $79,000 after acquiring an additional 340 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in J & J Snack Foods in the first quarter valued at $228,000. Institutional investors and hedge funds own 76.04% of the company’s stock.

J & J Snack Foods Stock Up 0.3%

NASDAQ JJSF opened at $95.86 on Tuesday. The stock has a market capitalization of $1.87 billion, a P/E ratio of 22.35 and a beta of 0.42. J & J Snack Foods Corp. has a 52-week low of $94.13 and a 52-week high of $180.80. The firm has a 50-day moving average price of $109.46 and a 200 day moving average price of $117.53.

J & J Snack Foods (NASDAQ:JJSF) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.26. The firm had revenue of $454.30 million during the quarter, compared to analysts’ expectations of $445.98 million. J & J Snack Foods had a net margin of 5.24% and a return on equity of 8.79%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.98 earnings per share. On average, equities research analysts expect that J & J Snack Foods Corp. will post 4.75 earnings per share for the current fiscal year.

J & J Snack Foods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 16th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.3%. This is a boost from J & J Snack Foods’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, September 16th. J & J Snack Foods’s dividend payout ratio is 74.59%.

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 research note on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, J & J Snack Foods currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.50.

J & J Snack Foods Company 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.