Public Sector Pension Investment Board Lowers Stake in J&J Snack Foods Corp. (NASDAQ:JJSF)

Public Sector Pension Investment Board cut its position in shares of J&J Snack Foods Corp. (NASDAQ:JJSF) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,996 shares of the company’s stock after selling 1,100 shares during the quarter. Public Sector Pension Investment Board owned about 0.17% of J&J Snack Foods worth $5,679,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in 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 buying an additional 314 shares during the period. Blue Trust Inc. raised its stake in shares of J&J Snack Foods by 39,000.0% in the 3rd quarter. Blue Trust Inc. now owns 391 shares of the company’s stock valued at $63,000 after acquiring an additional 390 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of J&J Snack Foods during the 2nd quarter valued at $76,000. Canada Pension Plan Investment Board purchased a new stake in J&J Snack Foods during the 2nd quarter worth $114,000. Finally, nVerses Capital LLC acquired a new stake in J&J Snack Foods in the 3rd quarter valued at $120,000. 76.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Benchmark reaffirmed 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 Stock Up 1.4 %

Shares of NASDAQ:JJSF opened at $173.79 on Friday. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 39.05 and a beta of 0.63. The company has a 50 day moving average of $169.09 and a two-hundred day moving average of $167.26. J&J Snack Foods Corp. has a 52-week low of $133.23 and a 52-week high of $180.80.

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

J&J Snack Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.78 per share. The ex-dividend date is Tuesday, December 17th. This represents a $3.12 dividend on an annualized basis and a yield of 1.80%. J&J Snack Foods’s dividend payout ratio (DPR) is presently 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.