Morgan Dempsey Capital Management LLC lowered its position in shares of J & J Snack Foods Corp. (NASDAQ:JJSF) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,037 shares of the company’s stock after selling 1,871 shares during the period. J & J Snack Foods Corp. accounts for 2.0% of Morgan Dempsey Capital Management LLC’s portfolio, making the stock its 10th largest position. Morgan Dempsey Capital Management LLC owned 0.22% of J & J Snack Foods Corp. worth $5,552,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of JJSF. Tower Research Capital LLC TRC raised its stake in shares of 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 worth $144,000 after buying an additional 651 shares during the period. Ameritas Investment Partners Inc. purchased a new position in J & J Snack Foods Corp. during the first quarter worth approximately $176,000. 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 worth $179,000 after buying an additional 103 shares in the last quarter. Harfst & Associates Inc. purchased a new position in J & J Snack Foods Corp. during the first quarter worth approximately $196,000. Finally, Bruderman Asset Management LLC increased its position in J & J Snack Foods Corp. by 6.6% in the first quarter. Bruderman Asset Management LLC now owns 1,543 shares of the company’s stock worth $209,000 after buying an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 67.78% of the company’s stock.
J & J Snack Foods Corp. (NASDAQ:JJSF) traded down 0.28% on Friday, reaching $126.66. The company’s stock had a trading volume of 74,059 shares. The stock’s 50 day moving average is $130.31 and its 200-day moving average is $132.36. J & J Snack Foods Corp. has a 52 week low of $102.81 and a 52 week high of $143.21. The firm has a market capitalization of $2.37 billion, a PE ratio of 31.59 and a beta of 0.72.
J & J Snack Foods Corp. (NASDAQ:JJSF) last released its quarterly earnings data on Monday, July 24th. The company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.49 by $0.15. J & J Snack Foods Corp. had a net margin of 7.33% and a return on equity of 11.55%. The company had revenue of $295.40 million during the quarter, compared to the consensus estimate of $297.83 million. During the same quarter in the prior year, the company posted $1.43 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts predict that J & J Snack Foods Corp. will post $4.19 EPS for the current year.
J & J Snack Foods Corp. announced that its board has authorized a stock repurchase plan on Friday, August 4th that authorizes the company to repurchase 500,000 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Thursday, September 14th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $1.68 annualized dividend and a dividend yield of 1.33%. J & J Snack Foods Corp.’s dividend payout ratio is currently 41.90%.
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A number of research analysts have commented on the company. BidaskClub downgraded J & J Snack Foods Corp. from a “hold” rating to a “sell” rating in a report on Thursday, June 29th. Zacks Investment Research downgraded J & J Snack Foods Corp. from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 26th.
About J & J Snack Foods Corp.
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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