Ridgewood Investments LLC Lowers Stake in J & J Snack Foods Corp. (JJSF)
Ridgewood Investments LLC reduced its stake in J & J Snack Foods Corp. (NASDAQ:JJSF) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 5,984 shares of the company’s stock after selling 8 shares during the period. Ridgewood Investments LLC’s holdings in J & J Snack Foods Corp. were worth $790,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in J & J Snack Foods Corp. by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 440,420 shares of the company’s stock valued at $59,703,000 after buying an additional 1,274 shares in the last quarter. Tower Research Capital LLC TRC increased its position in J & J Snack Foods Corp. by 158.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,061 shares of the company’s stock valued at $144,000 after buying an additional 651 shares in the last quarter. Alliancebernstein L.P. increased its position in J & J Snack Foods Corp. by 58.7% in the first quarter. Alliancebernstein L.P. now owns 36,114 shares of the company’s stock valued at $4,896,000 after buying an additional 13,352 shares in the last quarter. Bank of Montreal Can increased its position in J & J Snack Foods Corp. by 8.5% in the first quarter. Bank of Montreal Can now owns 1,319 shares of the company’s stock valued at $179,000 after buying an additional 103 shares in the last quarter. Finally, Capital Impact Advisors LLC increased its position in J & J Snack Foods Corp. by 61.1% in the first quarter. Capital Impact Advisors LLC now owns 13,578 shares of the company’s stock valued at $1,841,000 after buying an additional 5,152 shares in the last quarter. 67.97% of the stock is currently owned by hedge funds and other institutional investors.
J & J Snack Foods Corp. (NASDAQ JJSF) opened at 128.02 on Friday. J & J Snack Foods Corp. has a 52 week low of $102.81 and a 52 week high of $143.21. The stock has a market capitalization of $2.40 billion, a P/E ratio of 31.93 and a beta of 0.72. The firm’s 50-day moving average is $130.92 and its 200-day moving average is $132.44.
J & J Snack Foods Corp. (NASDAQ:JJSF) last released its quarterly earnings results on Monday, July 24th. The company reported $1.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.49 by $0.15. J & J Snack Foods Corp. had a return on equity of 11.55% and a net margin of 7.33%. The firm had revenue of $295.40 million for the quarter, compared to analyst estimates of $297.83 million. During the same period in the prior year, the business earned $1.43 earnings per share. J & J Snack Foods Corp.’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts predict that J & J Snack Foods Corp. will post $4.19 EPS for the current fiscal year.
J & J Snack Foods Corp. announced that its board has initiated a stock buyback program on Friday, August 4th that permits the company to buyback 500,000 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Thursday, September 14th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $1.68 annualized dividend and a dividend yield of 1.31%. J & J Snack Foods Corp.’s dividend payout ratio is currently 41.90%.
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A number of brokerages have commented on JJSF. Zacks Investment Research downgraded shares of J & J Snack Foods Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 26th. BidaskClub raised shares of J & J Snack Foods Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 24th.
In other J & J Snack Foods Corp. news, insider Robert Joseph Pape sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $131.29, for a total transaction of $393,870.00. Following the sale, the insider now directly owns 15,221 shares of the company’s stock, valued at approximately $1,998,365.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 21.00% of the stock is owned by company insiders.
J & J Snack Foods Corp. Company Profile
J & J Snack Foods Corp. is a manufacturer, marketer and distributor of a range of snack foods and beverages for the food service and retail supermarket industries. The Company operates in three business segments: Food Service, Retail Supermarkets and Frozen Beverages. Its portfolio of products includes soft pretzels, frozen beverages, frozen juice treats and desserts, stuffed sandwiches, burritos, churros, fruit pies, funnel cakes, cookies and bakery goods, and other snack foods and drinks.
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