Confluence Investment Management LLC Has $3.37 Million Stock Holdings in J&J Snack Foods Corp. (NASDAQ:JJSF)

Confluence Investment Management LLC lowered its stake in shares of J&J Snack Foods Corp. (NASDAQ:JJSF) by 1.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 21,693 shares of the company’s stock after selling 278 shares during the period. Confluence Investment Management LLC’s holdings in J&J Snack Foods were worth $3,365,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of JJSF. Blue Trust Inc. raised its holdings in shares of J&J Snack Foods by 39,000.0% during the third quarter. Blue Trust Inc. now owns 391 shares of the company’s stock worth $63,000 after acquiring an additional 390 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of J&J Snack Foods during the 2nd quarter worth about $76,000. GAMMA Investing LLC lifted its holdings in shares of J&J Snack Foods by 24.0% during the 3rd quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $78,000 after buying an additional 88 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of J&J Snack Foods in the 2nd quarter valued at approximately $114,000. Finally, nVerses Capital LLC acquired a new position in J&J Snack Foods in the third quarter worth approximately $120,000. 76.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Benchmark reissued a “buy” rating and issued a $200.00 target price on shares of J&J Snack Foods in a research report on Friday, November 15th.

J&J Snack Foods Price Performance

NASDAQ JJSF opened at $153.79 on Friday. J&J Snack Foods Corp. has a fifty-two week low of $133.23 and a fifty-two week high of $180.80. The stock’s 50-day moving average is $166.63 and its two-hundred day moving average is $167.26. The firm has a market cap of $2.99 billion, a P/E ratio of 34.56 and a beta of 0.64.

J&J Snack Foods (NASDAQ:JJSF) last issued its quarterly earnings data on Wednesday, November 13th. The company reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.25). The company had revenue of $426.76 million during the quarter, compared to the consensus estimate of $428.33 million. J&J Snack Foods had a net margin of 5.50% and a return on equity of 10.32%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.73 earnings per share. On average, equities analysts expect that J&J Snack Foods Corp. will post 5.49 EPS for the current year.

J&J Snack Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Tuesday, December 17th. J&J Snack Foods’s dividend payout ratio is currently 70.11%.

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.