Bank of New York Mellon Corp Sells 4,475 Shares of J&J Snack Foods Corp. (NASDAQ:JJSF)

Bank of New York Mellon Corp reduced its stake in shares of J&J Snack Foods Corp. (NASDAQ:JJSF) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 160,895 shares of the company’s stock after selling 4,475 shares during the quarter. Bank of New York Mellon Corp owned 0.83% of J&J Snack Foods worth $24,960,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jane Street Group LLC grew its stake in shares of J&J Snack Foods by 40.1% in the third quarter. Jane Street Group LLC now owns 31,936 shares of the company’s stock worth $5,497,000 after purchasing an additional 9,134 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of J&J Snack Foods by 19.9% in the third quarter. Thrivent Financial for Lutherans now owns 642,648 shares of the company’s stock worth $110,612,000 after purchasing an additional 106,817 shares during the last quarter. State Street Corp grew its stake in shares of J&J Snack Foods by 2.9% in the third quarter. State Street Corp now owns 602,295 shares of the company’s stock worth $104,140,000 after purchasing an additional 17,062 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of J&J Snack Foods by 27.8% in the third quarter. JPMorgan Chase & Co. now owns 44,572 shares of the company’s stock worth $7,672,000 after purchasing an additional 9,703 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of J&J Snack Foods by 434.0% in the third quarter. Barclays PLC now owns 30,065 shares of the company’s stock worth $5,175,000 after purchasing an additional 24,435 shares during the last quarter. 76.04% of the stock is owned by institutional investors.

J&J Snack Foods Stock Performance

J&J Snack Foods stock opened at $138.38 on Monday. The stock’s 50 day simple moving average is $136.84 and its two-hundred day simple moving average is $157.06. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 31.88 and a beta of 0.66. J&J Snack Foods Corp. has a fifty-two week low of $116.60 and a fifty-two week high of $180.80.

J&J Snack Foods (NASDAQ:JJSF) last posted its quarterly earnings data on Monday, February 3rd. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.29). J&J Snack Foods had a net margin of 5.31% and a return on equity of 9.84%. On average, analysts predict that J&J Snack Foods Corp. will post 4.75 earnings per share for the current year.

J&J Snack Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $3.12 annualized dividend and a yield of 2.25%. J&J Snack Foods’s payout ratio is 71.89%.

Analysts Set New Price Targets

Several research firms recently issued reports on JJSF. Jefferies Financial Group cut their target price on J&J Snack Foods from $175.00 to $135.00 and set a “hold” rating on the stock in a research note on Tuesday, February 18th. Benchmark reissued a “buy” rating and issued a $200.00 target price on shares of J&J Snack Foods in a research note on Tuesday, February 4th.

About J&J Snack Foods

J&J Snack Foods Corp. engages in the manufacturing of nutritional snack foods and distribution of frozen beverages to the food service and retail supermarket industries. It operates through the following segments: Food Service, Retail Supermarkets, and Frozen Beverages. The Food Service segment includes soft pretzels, frozen novelties, churros, handheld products, and baked goods.