Corient Private Wealth LP Purchases Shares of 52,069 J & J Snack Foods Corp. $JJSF

Corient Private Wealth LP purchased a new position in J & J Snack Foods Corp. (NASDAQ:JJSF) in the 2nd quarter, HoldingsChannel reports. The fund purchased 52,069 shares of the company’s stock, valued at approximately $3,824,000.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP increased its position in shares of J & J Snack Foods by 485.1% during the fourth quarter. Allworth Financial LP now owns 275 shares of the company’s stock worth $25,000 after acquiring an additional 228 shares during the period. Global Retirement Partners LLC boosted its holdings in J & J Snack Foods by 1,133.3% in the fourth quarter. Global Retirement Partners LLC now owns 333 shares of the company’s stock valued at $30,000 after purchasing an additional 306 shares during the period. IFP Advisors Inc grew its stake in J & J Snack Foods by 1,450.0% during the 4th quarter. IFP Advisors Inc now owns 341 shares of the company’s stock worth $31,000 after purchasing an additional 319 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in J & J Snack Foods by 902.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 351 shares of the company’s stock worth $40,000 after purchasing an additional 316 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in J & J Snack Foods by 58.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 404 shares of the company’s stock worth $36,000 after purchasing an additional 149 shares in the last quarter. Institutional investors and hedge funds own 76.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on JJSF shares. Jefferies Financial Group raised J & J Snack Foods from a “hold” rating to a “buy” rating and increased their price target for the company from $81.00 to $101.00 in a research report on Thursday, August 6th. Zacks Research lowered shares of J & J Snack Foods from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Benchmark cut their target price on shares of J & J Snack Foods from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of J & J Snack Foods in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $110.50.

J & J Snack Foods Stock Down 1.3%

J & J Snack Foods stock opened at $87.01 on Wednesday. J & J Snack Foods Corp. has a 1-year low of $68.87 and a 1-year high of $111.43. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.34 and a quick ratio of 1.47. The stock has a market cap of $1.63 billion, a PE ratio of 33.47 and a beta of 0.40. The stock’s fifty day moving average is $81.52 and its two-hundred day moving average is $80.25.

J & J Snack Foods (NASDAQ:JJSF) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.26. J & J Snack Foods had a return on equity of 8.93% and a net margin of 3.23%.The business had revenue of $425.96 million during the quarter, compared to analysts’ expectations of $427.65 million. During the same period in the prior year, the firm posted $2.00 EPS. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts expect that J & J Snack Foods Corp. will post 3.98 EPS for the current fiscal year.

J & J Snack Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.80 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.20 annualized dividend and a yield of 3.7%. J & J Snack Foods’s payout ratio is presently 123.08%.

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.