HighTower Advisors LLC Cuts Position in J&J Snack Foods Corp. (NASDAQ:JJSF)

HighTower Advisors LLC reduced its stake in shares of J&J Snack Foods Corp. (NASDAQ:JJSF) by 3.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,916 shares of the company’s stock after selling 119 shares during the quarter. HighTower Advisors LLC’s holdings in J&J Snack Foods were worth $452,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of JJSF. Raymond James Financial Inc. purchased a new stake in J&J Snack Foods in the 4th quarter valued at approximately $674,000. Charles Schwab Investment Management Inc. grew its holdings in shares of J&J Snack Foods by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 185,669 shares of the company’s stock worth $28,803,000 after buying an additional 1,564 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of J&J Snack Foods by 163.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 319 shares of the company’s stock valued at $50,000 after buying an additional 198 shares during the period. Principal Financial Group Inc. raised its holdings in J&J Snack Foods by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 75,797 shares of the company’s stock valued at $11,758,000 after acquiring an additional 2,205 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of J&J Snack Foods by 7.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 12,713 shares of the company’s stock worth $1,972,000 after purchasing an additional 835 shares during the period. 76.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Benchmark reissued a “buy” rating and issued a $200.00 price target on shares of J&J Snack Foods in a research note on Tuesday, February 4th. Jefferies Financial Group cut their price objective on J&J Snack Foods from $175.00 to $135.00 and set a “hold” rating on the stock in a report on Tuesday, February 18th.

J&J Snack Foods Trading Down 0.4 %

Shares of JJSF stock opened at $130.14 on Monday. The company’s fifty day simple moving average is $131.84 and its 200-day simple moving average is $153.16. J&J Snack Foods Corp. has a 52 week low of $116.60 and a 52 week high of $180.80. The company has a market cap of $2.54 billion, a PE ratio of 29.99 and a beta of 0.66.

J&J Snack Foods (NASDAQ:JJSF) last released its quarterly earnings results on Monday, February 3rd. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.29). J&J Snack Foods had a return on equity of 9.84% and a net margin of 5.31%. Equities research analysts expect that J&J Snack Foods Corp. will post 4.75 EPS for the current fiscal year.

J&J Snack Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Investors of record on Tuesday, March 18th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.40%. J&J Snack Foods’s dividend payout ratio (DPR) is presently 71.89%.

J&J Snack Foods Company Profile

J&J Snack Foods Corp. engages in the manufacturing of nutritional snack foods and distribution of frozen beverages to the food service and retail supermarket industries. It operates through the following segments: Food Service, Retail Supermarkets, and Frozen Beverages. The Food Service segment includes soft pretzels, frozen novelties, churros, handheld products, and baked goods.