Exchange Traded Concepts LLC Trims Stake in J&J Snack Foods Corp. (NASDAQ:JJSF)

Exchange Traded Concepts LLC reduced its holdings in shares of J&J Snack Foods Corp. (NASDAQ:JJSF) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,228 shares of the company’s stock after selling 472 shares during the period. Exchange Traded Concepts LLC owned about 0.05% of J&J Snack Foods worth $1,760,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of JJSF. Fidelis Capital Partners LLC purchased a new position in shares of J&J Snack Foods during the 1st quarter valued at $29,000. GAMMA Investing LLC lifted its position in shares of J&J Snack Foods by 603.8% in the second quarter. GAMMA Investing LLC now owns 366 shares of the company’s stock valued at $59,000 after acquiring an additional 314 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of J&J Snack Foods during the second quarter worth about $76,000. Covestor Ltd grew its position in shares of J&J Snack Foods by 54,200.0% during the first quarter. Covestor Ltd now owns 543 shares of the company’s stock worth $78,000 after purchasing an additional 542 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of J&J Snack Foods during the second quarter worth about $114,000. 76.04% of the stock is currently owned by institutional investors.

J&J Snack Foods Stock Performance

NASDAQ:JJSF opened at $168.37 on Wednesday. The company has a current ratio of 2.27, a quick ratio of 1.39 and a debt-to-equity ratio of 0.01. J&J Snack Foods Corp. has a 12-month low of $133.23 and a 12-month high of $176.38. The stock has a 50-day moving average price of $168.72 and a 200 day moving average price of $161.21. The stock has a market capitalization of $3.26 billion, a P/E ratio of 37.92 and a beta of 0.62.

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

J&J Snack Foods Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.85%. The ex-dividend date was Tuesday, September 17th. This is a boost from J&J Snack Foods’s previous quarterly dividend of $0.74. J&J Snack Foods’s dividend payout ratio (DPR) is currently 70.27%.

Analyst Upgrades and Downgrades

Separately, Benchmark reiterated 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 other news, Director Gerald B. Shreiber sold 20,000 shares of J&J Snack Foods stock in a transaction that occurred on Saturday, August 31st. The stock was sold at an average price of $167.95, for a total value of $3,359,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other J&J Snack Foods news, Director Gerald B. Shreiber sold 20,000 shares of J&J Snack Foods stock in a transaction on Saturday, August 31st. The stock was sold at an average price of $167.95, for a total transaction of $3,359,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $254,385.00. Following the sale, the vice president now directly owns 742 shares of the company’s stock, valued at approximately $125,835.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.20% of the stock is currently 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.