Ensign Peak Advisors Inc Reduces Position in J&J Snack Foods Corp. (NASDAQ:JJSF)

Posted by MarketBeat News on Mar 14th, 2023

Ensign Peak Advisors Inc cut its position in shares of J&J Snack Foods Corp. (NASDAQ:JJSF – Get Rating) by 13.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,912 shares of the company’s stock after selling 890 shares during the period. Ensign Peak Advisors Inc’s holdings in J&J Snack Foods were worth $765,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Landscape Capital Management L.L.C. purchased a new position in shares of J&J Snack Foods during the 3rd quarter worth about $531,000. Victory Capital Management Inc. boosted its position in J&J Snack Foods by 43.7% in the 3rd quarter. Victory Capital Management Inc. now owns 4,114 shares of the company’s stock valued at $533,000 after buying an additional 1,252 shares during the period. Alps Advisors Inc. purchased a new stake in J&J Snack Foods in the 2nd quarter valued at about $362,000. Lowell Blake & Associates Inc. boosted its position in J&J Snack Foods by 26.4% in the 2nd quarter. Lowell Blake & Associates Inc. now owns 25,730 shares of the company’s stock valued at $3,593,000 after buying an additional 5,374 shares during the period. Finally, Costello Asset Management INC boosted its position in J&J Snack Foods by 18.9% in the 3rd quarter. Costello Asset Management INC now owns 2,405 shares of the company’s stock valued at $393,000 after buying an additional 383 shares during the period. 76.89% of the stock is owned by hedge funds and other institutional investors.

J&J Snack Foods Price Performance

Shares of JJSF opened at $140.26 on Tuesday. The company has a 50 day moving average price of $145.46 and a 200-day moving average price of $146.33. J&J Snack Foods Corp. has a fifty-two week low of $117.45 and a fifty-two week high of $165.90. The stock has a market capitalization of $2.70 billion, a PE ratio of 63.18 and a beta of 0.53. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.61 and a current ratio of 2.76.

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J&J Snack Foods (NASDAQ:JJSF – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.07). The business had revenue of $351.34 million during the quarter, compared to analysts’ expectations of $360.70 million. J&J Snack Foods had a return on equity of 5.77% and a net margin of 3.03%. J&J Snack Foods’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 EPS. Equities analysts predict that J&J Snack Foods Corp. will post 4.35 earnings per share for the current fiscal year.

J&J Snack Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 11th. Investors of record on Tuesday, March 21st will be paid a dividend of $0.70 per share. The ex-dividend date is Monday, March 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.00%. J&J Snack Foods’s dividend payout ratio (DPR) is presently 126.13%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on JJSF shares. Benchmark reissued a “buy” rating and issued a $175.00 price objective on shares of J&J Snack Foods in a research report on Tuesday, January 31st. StockNews.com cut shares of J&J Snack Foods from a “hold” rating to a “sell” rating in a research report on Friday, February 3rd. CL King boosted their price objective on shares of J&J Snack Foods from $165.00 to $180.00 in a research report on Wednesday, November 16th. Finally, TheStreet cut shares of J&J Snack Foods from a “b” rating to a “c” rating in a research report on Monday, January 30th.

About J&J Snack Foods

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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 juice treats and desserts, churros, dough enrobed handheld products, and baked goods.