Geneva Capital Management LLC Decreases Stock Holdings in J & J Snack Foods Corp. $JJSF

Geneva Capital Management LLC lowered its holdings in J & J Snack Foods Corp. (NASDAQ:JJSF) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 541,238 shares of the company’s stock after selling 12,384 shares during the period. Geneva Capital Management LLC owned approximately 2.78% of J & J Snack Foods worth $52,008,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. EverSource Wealth Advisors LLC increased its holdings in J & J Snack Foods by 902.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 351 shares of the company’s stock valued at $40,000 after purchasing an additional 316 shares in the last quarter. Assetmark Inc. boosted its position in shares of J & J Snack Foods by 19,000.0% in the third quarter. Assetmark Inc. now owns 955 shares of the company’s stock worth $92,000 after buying an additional 950 shares during the period. GAMMA Investing LLC grew its stake in shares of J & J Snack Foods by 38.0% in the third quarter. GAMMA Investing LLC now owns 966 shares of the company’s stock valued at $93,000 after buying an additional 266 shares in the last quarter. Covestor Ltd grew its stake in shares of J & J Snack Foods by 71.1% in the third quarter. Covestor Ltd now owns 1,013 shares of the company’s stock valued at $97,000 after buying an additional 421 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of J & J Snack Foods by 76.3% during the 3rd quarter. CWM LLC now owns 1,229 shares of the company’s stock valued at $118,000 after buying an additional 532 shares during the period. Hedge funds and other institutional investors own 76.04% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on JJSF. Benchmark restated a “buy” rating on shares of J & J Snack Foods in a report on Tuesday, January 20th. Zacks Research lowered shares of J & J Snack Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of J & J Snack Foods in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, J & J Snack Foods has a consensus rating of “Hold” and a consensus price target of $130.00.

J & J Snack Foods Stock Up 0.6%

Shares of NASDAQ JJSF opened at $84.31 on Wednesday. J & J Snack Foods Corp. has a fifty-two week low of $80.00 and a fifty-two week high of $142.69. The business has a 50 day moving average price of $89.24 and a two-hundred day moving average price of $92.90. The firm has a market cap of $1.60 billion, a PE ratio of 26.85 and a beta of 0.34.

J & J Snack Foods (NASDAQ:JJSF) last announced its earnings results on Tuesday, February 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. J & J Snack Foods had a return on equity of 8.79% and a net margin of 3.92%.The company had revenue of $343.78 million for the quarter, compared to analyst estimates of $365.95 million. During the same period in the prior year, the company posted $0.33 EPS. J & J Snack Foods’s quarterly revenue was down 5.2% on a year-over-year basis. On average, analysts anticipate that J & J Snack Foods Corp. will post 4.75 earnings per share for the current year.

J & J Snack Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, March 17th. J & J Snack Foods’s dividend payout ratio is 101.91%.

J & J Snack Foods announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 3rd that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

J & J Snack Foods Company 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.