Louisiana State Employees Retirement System Buys Shares of 6,700 J & J Snack Foods Corp. $JJSF

Louisiana State Employees Retirement System bought a new stake in J & J Snack Foods Corp. (NASDAQ:JJSF) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,700 shares of the company’s stock, valued at approximately $531,000.

Several other institutional investors also recently modified their holdings of JJSF. Rockefeller Capital Management L.P. raised its stake in shares of J & J Snack Foods by 562.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 570 shares of the company’s stock worth $52,000 after buying an additional 484 shares during the last quarter. Corient Private Wealth LLC bought a new position in J & J Snack Foods in the fourth quarter valued at approximately $280,000. Invesco Ltd. boosted its stake in J & J Snack Foods by 21.7% in the fourth quarter. Invesco Ltd. now owns 111,458 shares of the company’s stock valued at $10,072,000 after acquiring an additional 19,876 shares during the last quarter. XTX Topco Ltd grew its holdings in J & J Snack Foods by 837.7% during the 4th quarter. XTX Topco Ltd now owns 26,771 shares of the company’s stock worth $2,419,000 after acquiring an additional 23,916 shares during the period. Finally, Voloridge Investment Management LLC grew its holdings in J & J Snack Foods by 74.1% during the 4th quarter. Voloridge Investment Management LLC now owns 150,829 shares of the company’s stock worth $13,630,000 after acquiring an additional 64,189 shares during the period. Institutional investors and hedge funds own 76.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on JJSF. Zacks Research downgraded J & J Snack Foods from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Benchmark dropped their price objective on J & J Snack Foods from $130.00 to $120.00 and set a “buy” rating for the company in a report on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of J & J Snack Foods in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $120.00.

J & J Snack Foods Stock Performance

Shares of NASDAQ:JJSF opened at $76.93 on Wednesday. The company has a 50 day moving average price of $76.13 and a two-hundred day moving average price of $82.58. The company has a market capitalization of $1.44 billion, a PE ratio of 25.82 and a beta of 0.38. J & J Snack Foods Corp. has a 52 week low of $68.87 and a 52 week high of $129.24.

J & J Snack Foods (NASDAQ:JJSF) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. J & J Snack Foods had a net margin of 3.75% and a return on equity of 9.01%. The company had revenue of $344.82 million for the quarter, compared to analysts’ expectations of $349.67 million. During the same period last year, the firm posted $0.35 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, sell-side analysts forecast that J & J Snack Foods Corp. will post 4 earnings per share for the current year.

J & J Snack Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 16th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, June 16th. J & J Snack Foods’s payout ratio is presently 107.38%.

J & J Snack Foods Profile

J & J Snack Foods (NASDAQ: JJSF) is a U.S.-based manufacturer and distributor of branded snack foods and frozen beverages. Headquartered in Pennsauken, New Jersey, the company develops, produces and markets a broad array of proprietary and licensed products for retail, concession and foodservice customers. Its offerings span soft pretzels, frozen novelties, real Italian ice, churros and packaged beverages under well-known names such as ICEE, SuperPretzel, Luigi’s and ChurroMan.

Founded in 1971 by Gerald B.