Texas Permanent School Fund Corp Trims Stake in J&J Snack Foods Corp. (NASDAQ:JJSF)

Texas Permanent School Fund Corp cut its stake in J&J Snack Foods Corp. (NASDAQ:JJSF) by 7.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,550 shares of the company’s stock after selling 1,019 shares during the period. Texas Permanent School Fund Corp owned 0.06% of J&J Snack Foods worth $2,038,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of JJSF. Vanguard Group Inc. lifted its stake in shares of J&J Snack Foods by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 1,636,305 shares of the company’s stock valued at $236,544,000 after purchasing an additional 71,378 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of J&J Snack Foods by 6.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,562,491 shares of the company’s stock worth $253,702,000 after buying an additional 89,160 shares during the period. Westwood Holdings Group Inc. increased its stake in shares of J&J Snack Foods by 22.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 542,945 shares of the company’s stock worth $78,488,000 after acquiring an additional 99,264 shares in the last quarter. Bank of New York Mellon Corp lifted its position in J&J Snack Foods by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 223,242 shares of the company’s stock valued at $36,248,000 after acquiring an additional 31,897 shares during the period. Finally, DAVENPORT & Co LLC boosted its stake in J&J Snack Foods by 11.9% during the first quarter. DAVENPORT & Co LLC now owns 217,553 shares of the company’s stock worth $31,228,000 after acquiring an additional 23,196 shares in the last quarter. 76.04% of the stock is owned by institutional investors.

J&J Snack Foods Stock Up 1.4 %

Shares of NASDAQ:JJSF opened at $168.67 on Wednesday. J&J Snack Foods Corp. has a 12-month low of $133.23 and a 12-month high of $176.38. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 37.98 and a beta of 0.62. The stock has a fifty day simple moving average of $167.78 and a two-hundred day simple moving average of $157.38. The company has a current ratio of 2.27, a quick ratio of 1.39 and a debt-to-equity ratio of 0.01.

J&J Snack Foods (NASDAQ:JJSF) last posted its quarterly earnings results on Monday, August 5th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.01). J&J Snack Foods had a return on equity of 10.70% and a net margin of 5.49%. The company had revenue of $439.96 million during the quarter, compared to analysts’ expectations of $440.92 million. During the same period in the prior year, the firm earned $1.92 EPS. J&J Snack Foods’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts anticipate that J&J Snack Foods Corp. will post 5.21 earnings per share for the current fiscal year.

J&J Snack Foods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.78 per share. This is a boost from J&J Snack Foods’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.85%. J&J Snack Foods’s dividend payout ratio is presently 70.27%.

Insider Activity at J&J Snack Foods

In other J&J Snack Foods news, Director Gerald B. Shreiber sold 20,000 shares of the stock in a transaction on Saturday, August 31st. The stock was sold at an average price of $167.95, for a total transaction of $3,359,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, VP Mary Lou Kehoe sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $169.59, for a total transaction of $254,385.00. Following the transaction, the vice president now owns 742 shares in the company, valued at $125,835.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gerald B. Shreiber sold 20,000 shares of J&J Snack Foods stock in a transaction that occurred on Saturday, August 31st. The stock was sold at an average price of $167.95, for a total transaction of $3,359,000.00. The disclosure for this sale can be found here. 22.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Benchmark reaffirmed a “buy” rating and set a $200.00 target price on shares of J&J Snack Foods in a research note on Tuesday, August 6th.

J&J Snack Foods Profile

J&J Snack Foods Corp. manufactures, markets, and distributes nutritional snack foods and beverages to the food service and retail supermarket industries in the United States, Mexico, and Canada. It operates through three segments: Food Service, Retail Supermarkets, and Frozen Beverages. It offers soft pretzels under the SUPERPRETZEL, SUPERPRETZEL BAVARIAN, NEW YORK PRETZEL, BAVARIAN BAKERY, and BRAUHAUS brands, as well as under the private labels; frozen novelty under the DIPPIN'DOTS, LUIGI'S, WHOLE FRUIT, DOGSTERS, PHILLY SWIRL, ICEE, and MINUTE MAID brands; churros under the HOLA! and CALIFORNIA CHURROS brands; and handheld products under the SUPREME STUFFERS and SWEET STUFFERS brands.