Todays Report: The Prudential Financial Inc. Cuts Position in J&J Snack Foods Corp. (JJSF)

The Prudential Financial Inc. Cuts Position in J&J Snack Foods Corp. (JJSF)

Prudential Financial Inc. cut its position in J&J Snack Foods Corp. (NASDAQ:JJSF) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,158 shares of the company’s stock after selling 840 shares during the period. Prudential Financial Inc. owned about 0.26% of J&J Snack Foods Corp. worth $5,744,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its stake in shares of J&J Snack Foods Corp. by 133.8% in the first quarter. BlackRock Inc. now owns 968 shares of the company’s stock worth $104,000 after buying an additional 554 shares in the last quarter. Bruderman Asset Management LLC raised its stake in shares of J&J Snack Foods Corp. by 75.1% in the second quarter. Bruderman Asset Management LLC now owns 1,140 shares of the company’s stock worth $136,000 after buying an additional 489 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of J&J Snack Foods Corp. by 77.2% in the second quarter. Victory Capital Management Inc. now owns 1,214 shares of the company’s stock worth $145,000 after buying an additional 529 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of J&J Snack Foods Corp. during the second quarter worth approximately $182,000. Finally, Teacher Retirement System of Texas raised its stake in shares of J&J Snack Foods Corp. by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 2,083 shares of the company’s stock worth $248,000 after buying an additional 257 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

J&J Snack Foods Corp. (NASDAQ:JJSF) opened at 119.22 on Wednesday. The company’s 50-day moving average is $120.17 and its 200-day moving average is $113.48. J&J Snack Foods Corp. has a one year low of $97.73 and a one year high of $125.62. The firm has a market capitalization of $2.22 billion, a P/E ratio of 29.81 and a beta of 0.64.

J&J Snack Foods Corp. (NASDAQ:JJSF) last released its earnings results on Monday, July 25th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. The business earned $278 million during the quarter, compared to the consensus estimate of $284.82 million. J&J Snack Foods Corp. had a net margin of 7.54% and a return on equity of 12.31%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 EPS. Equities analysts forecast that J&J Snack Foods Corp. will post $4.18 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 6th. Stockholders of record on Thursday, September 15th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Tuesday, September 13th. J&J Snack Foods Corp.’s dividend payout ratio (DPR) is 39.20%.

JJSF has been the topic of a number of research reports. DA Davidson reissued a “buy” rating and issued a $135.00 price objective on shares of J&J Snack Foods Corp. in a research report on Wednesday, October 5th. Zacks Investment Research raised shares of J&J Snack Foods Corp. from a “hold” rating to a “buy” rating and set a $136.00 price objective on the stock in a research report on Thursday, July 28th. Jefferies Group boosted their price objective on shares of J&J Snack Foods Corp. from $108.00 to $115.00 and gave the stock a “hold” rating in a research report on Wednesday, July 27th. Finally, KeyCorp initiated coverage on shares of J&J Snack Foods Corp. in a research report on Monday, August 22nd. They issued a “sector weight” rating on the stock.

In other news, insider Dennis G. Moore sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $122.46, for a total transaction of $918,450.00. Following the completion of the sale, the insider now owns 75,501 shares of the company’s stock, valued at approximately $9,245,852.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gerard Garfield Law sold 1,724 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $121.46, for a total transaction of $209,397.04. Following the sale, the insider now directly owns 21,906 shares of the company’s stock, valued at approximately $2,660,702.76. The disclosure for this sale can be found here. Insiders own 21.00% of the company’s stock.

J&J Snack Foods Corp. Company Profile

J & J Snack Foods Corp. (J & J) manufactures nutritional snack foods and distributes frozen beverages. The Company operates in three business segments: Food Service, Retail Supermarkets and Frozen Beverages. The Company’s food service segment is engaged in selling primary products, such as soft pretzels, frozen juice treats and desserts, churros, dough enrobed handheld products and baked goods.

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