DAVENPORT & Co LLC Decreases Holdings in J & J Snack Foods Corp. $JJSF

DAVENPORT & Co LLC trimmed its position in shares of J & J Snack Foods Corp. (NASDAQ:JJSF) by 5.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233,408 shares of the company’s stock after selling 13,836 shares during the quarter. DAVENPORT & Co LLC owned 1.23% of J & J Snack Foods worth $20,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of JJSF. MassMutual Private Wealth & Trust FSB increased its position in J & J Snack Foods by 897.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 439 shares of the company’s stock valued at $40,000 after acquiring an additional 395 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in J & J Snack Foods by 902.9% in the second quarter. EverSource Wealth Advisors LLC now owns 351 shares of the company’s stock worth $40,000 after purchasing an additional 316 shares during the last quarter. Assetmark Inc. grew its stake in shares of J & J Snack Foods by 19,000.0% during the 3rd quarter. Assetmark Inc. now owns 955 shares of the company’s stock valued at $92,000 after purchasing an additional 950 shares during the period. GAMMA Investing LLC increased its position in shares of J & J Snack Foods by 38.0% during the 3rd quarter. GAMMA Investing LLC now owns 966 shares of the company’s stock valued at $93,000 after purchasing an additional 266 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of J & J Snack Foods by 71.1% during the 3rd quarter. Covestor Ltd now owns 1,013 shares of the company’s stock valued at $97,000 after purchasing an additional 421 shares during the last quarter. Institutional investors own 76.04% of the company’s stock.

J & J Snack Foods Stock Up 1.3%

Shares of J & J Snack Foods stock opened at $77.61 on Thursday. J & J Snack Foods Corp. has a twelve month low of $73.75 and a twelve month high of $142.69. The business has a 50-day moving average price of $86.11 and a 200-day moving average price of $90.50. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 24.72 and a beta of 0.34.

J & J Snack Foods (NASDAQ:JJSF) last posted its earnings results on Tuesday, February 3rd. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. J & J Snack Foods had a return on equity of 8.79% and a net margin of 3.92%.The company had revenue of $343.78 million for the quarter, compared to the consensus estimate of $365.95 million. During the same period in the previous year, the business earned $0.33 earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities analysts expect that J & J Snack Foods Corp. will post 4.75 EPS for the current fiscal year.

J & J Snack Foods declared that its board has authorized a share repurchase plan on Tuesday, February 3rd that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

J & J Snack Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, March 17th. J & J Snack Foods’s dividend payout ratio is 101.91%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of J & J Snack Foods in a report on Monday, December 29th. Zacks Research cut shares of J & J Snack Foods from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Finally, Benchmark reiterated a “buy” rating on shares of J & J Snack Foods in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $130.00.

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.