ProShare Advisors LLC Reduces Holdings in J&J Snack Foods Corp. (NASDAQ:JJSF)

ProShare Advisors LLC trimmed its holdings in shares of J&J Snack Foods Corp. (NASDAQ:JJSF) by 15.7% in the second quarter, HoldingsChannel reports. The firm owned 46,348 shares of the company’s stock after selling 8,658 shares during the period. ProShare Advisors LLC’s holdings in J&J Snack Foods were worth $7,526,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in J&J Snack Foods during the fourth quarter worth approximately $27,404,000. Capstone Investment Advisors LLC boosted its position in J&J Snack Foods by 17.0% during the fourth quarter. Capstone Investment Advisors LLC now owns 1,820 shares of the company’s stock worth $304,000 after acquiring an additional 264 shares during the last quarter. Alberta Investment Management Corp boosted its position in J&J Snack Foods by 6.4% during the fourth quarter. Alberta Investment Management Corp now owns 7,683 shares of the company’s stock worth $1,284,000 after acquiring an additional 461 shares during the last quarter. Virtu Financial LLC acquired a new stake in J&J Snack Foods during the fourth quarter worth approximately $248,000. Finally, Vanguard Group Inc. boosted its position in J&J Snack Foods by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 1,564,927 shares of the company’s stock worth $261,562,000 after acquiring an additional 16,503 shares during the last quarter. 76.04% of the stock is owned by hedge funds and other institutional investors.

J&J Snack Foods Stock Up 0.3 %

Shares of JJSF opened at $169.72 on Wednesday. The firm has a market cap of $3.29 billion, a PE ratio of 38.23 and a beta of 0.62. The company’s fifty day moving average is $168.20 and its two-hundred day moving average is $158.46. J&J Snack Foods Corp. has a fifty-two week low of $133.23 and a fifty-two week high of $176.38. The company has a quick ratio of 1.39, a current ratio of 2.27 and a debt-to-equity ratio of 0.01.

J&J Snack Foods (NASDAQ:JJSF) last announced its quarterly earnings results on Monday, August 5th. The company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.01). The company had revenue of $439.96 million during the quarter, compared to analyst estimates of $440.92 million. J&J Snack Foods had a net margin of 5.49% and a return on equity of 10.70%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.92 EPS. Analysts forecast that J&J Snack Foods Corp. will post 5.21 earnings per share for the current year.

J&J Snack Foods Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Tuesday, September 17th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, September 17th. This is a positive change from J&J Snack Foods’s previous quarterly dividend of $0.74. J&J Snack Foods’s dividend payout ratio (DPR) is 70.27%.

Wall Street Analysts Forecast Growth

Separately, Benchmark restated a “buy” rating and set a $200.00 target price on shares of J&J Snack Foods in a research report on Tuesday, August 6th.

Insider Buying and Selling at J&J Snack Foods

In related news, VP Mary Lou Kehoe sold 1,500 shares of J&J Snack Foods stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $169.59, for a total transaction of $254,385.00. Following the transaction, the vice president now owns 742 shares in the company, valued at approximately $125,835.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Gerald B. Shreiber sold 20,000 shares of J&J Snack Foods stock in a transaction on Saturday, August 31st. The shares were sold at an average price of $167.95, for a total transaction of $3,359,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Mary Lou Kehoe sold 1,500 shares of J&J Snack Foods stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $169.59, for a total transaction of $254,385.00. Following the transaction, the vice president now owns 742 shares in the company, valued at approximately $125,835.78. The disclosure for this sale can be found here. 22.20% of the stock is owned by company insiders.

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.