Confluence Investment Management LLC Takes $8.91 Million Position in J&J Snack Foods Corp. (NASDAQ:JJSF)

Confluence Investment Management LLC bought a new stake in J&J Snack Foods Corp. (NASDAQ:JJSF) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 61,630 shares of the company’s stock, valued at approximately $8,909,000. Confluence Investment Management LLC owned 0.32% of J&J Snack Foods as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of JJSF. Norges Bank purchased a new position in shares of J&J Snack Foods in the 4th quarter worth $27,404,000. Los Angeles Capital Management LLC purchased a new stake in J&J Snack Foods during the fourth quarter worth approximately $994,000. Charles Schwab Investment Management Inc. raised its stake in shares of J&J Snack Foods by 4.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 172,108 shares of the company’s stock valued at $28,165,000 after acquiring an additional 7,023 shares during the period. Vanguard Group Inc. increased its holdings in J&J Snack Foods by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,548,424 shares of the company’s stock valued at $253,400,000 after purchasing an additional 8,918 shares in the last quarter. Finally, Johnson Investment Counsel Inc. purchased a new position in J&J Snack Foods in the fourth quarter valued at about $234,000. Institutional investors and hedge funds own 76.04% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Benchmark restated a “buy” rating and issued a $195.00 price target on shares of J&J Snack Foods in a report on Tuesday, May 7th.

Insider Buying and Selling

In other J&J Snack Foods news, VP Robert Cranmer sold 2,278 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $162.03, for a total transaction of $369,104.34. Following the sale, the vice president now directly owns 872 shares of the company’s stock, valued at $141,290.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.20% of the stock is currently owned by company insiders.

J&J Snack Foods Stock Down 0.3 %

Shares of NASDAQ JJSF opened at $166.72 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 2.41. J&J Snack Foods Corp. has a 1 year low of $133.23 and a 1 year high of $177.71. The stock’s 50-day simple moving average is $153.25 and its 200-day simple moving average is $153.99. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 37.55 and a beta of 0.60.

J&J Snack Foods (NASDAQ:JJSF) last announced its earnings results on Monday, May 6th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.21. The company had revenue of $359.73 million for the quarter, compared to analyst estimates of $341.08 million. J&J Snack Foods had a return on equity of 10.71% and a net margin of 5.45%. J&J Snack Foods’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 EPS. As a group, equities analysts anticipate that J&J Snack Foods Corp. will post 5.29 earnings per share for the current fiscal year.

J&J Snack Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Tuesday, June 18th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, June 18th. J&J Snack Foods’s dividend payout ratio is currently 66.22%.

About J&J Snack Foods

J&J Snack Foods Corp. manufactures, markets, and distributes nutritional snack foods and beverages to the food service and retail supermarket industries in the United States, Mexico, and Canada. It operates through three segments: Food Service, Retail Supermarkets, and Frozen Beverages. It offers soft pretzels under the SUPERPRETZEL, SUPERPRETZEL BAVARIAN, NEW YORK PRETZEL, BAVARIAN BAKERY, and BRAUHAUS brands, as well as under the private labels; frozen novelty under the DIPPIN'DOTS, LUIGI'S, WHOLE FRUIT, DOGSTERS, PHILLY SWIRL, ICEE, and MINUTE MAID brands; churros under the HOLA! and CALIFORNIA CHURROS brands; and handheld products under the SUPREME STUFFERS and SWEET STUFFERS brands.