The Manufacturers Life Insurance Company Cuts Holdings in J&J Snack Foods Corp. (NASDAQ:JJSF)

The Manufacturers Life Insurance Company decreased its position in shares of J&J Snack Foods Corp. (NASDAQ:JJSF) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,164 shares of the company’s stock after selling 221 shares during the period. The Manufacturers Life Insurance Company’s holdings in J&J Snack Foods were worth $1,266,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Johnson Financial Group Inc. purchased a new position in shares of J&J Snack Foods during the fourth quarter valued at about $55,000. Susquehanna Fundamental Investments LLC purchased a new position in J&J Snack Foods in the fourth quarter worth about $567,000. Two Sigma Securities LLC bought a new stake in J&J Snack Foods during the fourth quarter worth approximately $342,000. Nebula Research & Development LLC bought a new stake in J&J Snack Foods during the fourth quarter worth approximately $296,000. Finally, Voya Investment Management LLC increased its stake in J&J Snack Foods by 8.2% during the fourth quarter. Voya Investment Management LLC now owns 6,685 shares of the company’s stock worth $1,037,000 after acquiring an additional 509 shares during the last quarter. Hedge funds and other institutional investors own 76.04% of the company’s stock.

J&J Snack Foods Price Performance

Shares of NASDAQ:JJSF opened at $119.31 on Tuesday. J&J Snack Foods Corp. has a 1 year low of $112.40 and a 1 year high of $180.80. The business has a 50 day simple moving average of $130.66 and a two-hundred day simple moving average of $144.52. The firm has a market capitalization of $2.33 billion, a PE ratio of 27.49 and a beta of 0.49.

J&J Snack Foods (NASDAQ:JJSF) last announced its earnings results on Tuesday, May 6th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.34). The business had revenue of $356.10 million for the quarter, compared to analysts’ expectations of $369.01 million. J&J Snack Foods had a net margin of 5.31% and a return on equity of 9.84%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS. Equities research analysts expect that J&J Snack Foods Corp. will post 4.75 EPS for the current fiscal year.

J&J Snack Foods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Investors of record on Tuesday, March 18th were issued a $0.78 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.62%. J&J Snack Foods’s payout ratio is 80.00%.

Analysts Set New Price Targets

JJSF has been the topic of several analyst reports. Benchmark reduced their price objective on J&J Snack Foods from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Jefferies Financial Group reduced their price objective 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.

J&J Snack Foods Profile

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.