Eaton Vance Management bought a new stake in shares of J & J Snack Foods Corp (NASDAQ:JJSF) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 34,272 shares of the company’s stock, valued at approximately $5,171,000. Eaton Vance Management owned about 0.18% of J & J Snack Foods at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Comerica Bank boosted its position in shares of J & J Snack Foods by 2.3% in the second quarter. Comerica Bank now owns 16,251 shares of the company’s stock worth $2,547,000 after purchasing an additional 368 shares during the period. Rhumbline Advisers boosted its position in shares of J & J Snack Foods by 0.9% in the second quarter. Rhumbline Advisers now owns 41,383 shares of the company’s stock worth $6,310,000 after purchasing an additional 376 shares during the period. Bahl & Gaynor Inc. boosted its position in shares of J & J Snack Foods by 3.2% in the third quarter. Bahl & Gaynor Inc. now owns 12,492 shares of the company’s stock worth $1,884,000 after purchasing an additional 393 shares during the period. Strs Ohio boosted its position in shares of J & J Snack Foods by 4.8% in the second quarter. Strs Ohio now owns 8,800 shares of the company’s stock worth $1,341,000 after purchasing an additional 400 shares during the period. Finally, RK Asset Management LLC boosted its position in shares of J & J Snack Foods by 1.0% in the third quarter. RK Asset Management LLC now owns 40,330 shares of the company’s stock worth $6,085,000 after purchasing an additional 405 shares during the period. 70.92% of the stock is owned by institutional investors and hedge funds.
JJSF opened at $153.57 on Friday. J & J Snack Foods Corp has a 1-year low of $125.98 and a 1-year high of $162.80. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 37.83, a PEG ratio of 3.08 and a beta of 0.41.
J & J Snack Foods (NASDAQ:JJSF) last issued its earnings results on Thursday, November 8th. The company reported $1.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.08). J & J Snack Foods had a return on equity of 10.89% and a net margin of 9.10%. The company had revenue of $300.72 million for the quarter, compared to the consensus estimate of $306.48 million. During the same quarter in the prior year, the company posted $1.29 EPS. J & J Snack Foods’s revenue was down 5.1% compared to the same quarter last year. On average, sell-side analysts anticipate that J & J Snack Foods Corp will post 4.89 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Investors of record on Tuesday, December 18th will be given a dividend of $0.50 per share. This is a positive change from J & J Snack Foods’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, December 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.30%. J & J Snack Foods’s dividend payout ratio is currently 44.33%.
In related news, insider Gerald B. Shreiber sold 2,435 shares of the company’s stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $156.29, for a total transaction of $380,566.15. Following the completion of the transaction, the insider now owns 3,563,985 shares in the company, valued at $557,015,215.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert Joseph Pape sold 2,100 shares of the company’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $153.68, for a total transaction of $322,728.00. Following the transaction, the insider now owns 12,281 shares of the company’s stock, valued at approximately $1,887,344.08. The disclosure for this sale can be found here. 21.00% of the stock is currently owned by corporate insiders.
JJSF has been the subject of a number of recent analyst reports. BidaskClub lowered shares of J & J Snack Foods from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Zacks Investment Research upgraded shares of J & J Snack Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $145.50.
About J & J Snack Foods
J&J Snack Foods Corp. manufactures, markets, and distributes various nutritional snack foods and beverages to the food service and retail supermarket industries in the United States, Mexico, and Canada. The company operates through three segments: Food Service, Retail Supermarkets, and Frozen Beverages.
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