J & J Snack Foods Corp. (JJSF) Shares Bought by Renaissance Technologies LLC
Renaissance Technologies LLC boosted its stake in shares of J & J Snack Foods Corp. (NASDAQ:JJSF) by 8.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 381,800 shares of the company’s stock after purchasing an additional 29,700 shares during the quarter. Renaissance Technologies LLC owned about 2.04% of J & J Snack Foods Corp. worth $50,424,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Benedict Financial Advisors Inc. boosted its position in J & J Snack Foods Corp. by 0.5% during the second quarter. Benedict Financial Advisors Inc. now owns 2,253 shares of the company’s stock worth $308,000 after purchasing an additional 11 shares during the period. Pinebridge Investments L.P. boosted its position in shares of J & J Snack Foods Corp. by 1.1% in the second quarter. Pinebridge Investments L.P. now owns 1,973 shares of the company’s stock valued at $260,000 after acquiring an additional 21 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of J & J Snack Foods Corp. by 1.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 3,410 shares of the company’s stock valued at $462,000 after acquiring an additional 50 shares during the period. WCM Investment Management CA boosted its position in shares of J & J Snack Foods Corp. by 2.3% in the second quarter. WCM Investment Management CA now owns 2,465 shares of the company’s stock valued at $326,000 after acquiring an additional 55 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of J & J Snack Foods Corp. by 4.6% in the first quarter. Victory Capital Management Inc. now owns 1,639 shares of the company’s stock valued at $222,000 after acquiring an additional 72 shares during the period. 67.52% of the stock is owned by hedge funds and other institutional investors.
JJSF has been the subject of a number of recent research reports. BidaskClub raised shares of J & J Snack Foods Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Zacks Investment Research cut shares of J & J Snack Foods Corp. from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 26th.
Shares of J & J Snack Foods Corp. (NASDAQ:JJSF) opened at 131.30 on Friday. The company’s 50-day moving average is $127.35 and its 200 day moving average is $131.88. J & J Snack Foods Corp. has a 52-week low of $102.81 and a 52-week high of $143.21. The company has a market cap of $2.46 billion, a PE ratio of 32.74 and a beta of 0.74.
J & J Snack Foods Corp. (NASDAQ:JJSF) last announced 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 return on equity of 11.55% and a net margin of 7.33%. The firm had revenue of $295.40 million during the quarter, compared to analysts’ expectations of $297.83 million. During the same period last year, the business posted $1.43 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. On average, analysts anticipate that J & J Snack Foods Corp. will post $4.19 EPS for the current year.
J & J Snack Foods Corp. declared that its Board of Directors has approved a stock repurchase program on Friday, August 4th that authorizes the company to repurchase 500,000 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders 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 yield of 1.28%. J & J Snack Foods Corp.’s dividend payout ratio is currently 41.90%.
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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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