PNC Financial Services Group Inc. Trims Stock Position in J&J Snack Foods Corp. (NASDAQ:JJSF)

PNC Financial Services Group Inc. lowered its stake in J&J Snack Foods Corp. (NASDAQ:JJSF) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,551 shares of the company’s stock after selling 184 shares during the period. PNC Financial Services Group Inc.’s holdings in J&J Snack Foods were worth $259,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in J&J Snack Foods by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 1,564,927 shares of the company’s stock valued at $261,562,000 after buying an additional 16,503 shares during the period. Geneva Capital Management LLC lifted its position in J&J Snack Foods by 0.5% in the fourth quarter. Geneva Capital Management LLC now owns 522,424 shares of the company’s stock valued at $87,318,000 after purchasing an additional 2,449 shares during the period. American Century Companies Inc. boosted its holdings in J&J Snack Foods by 12,431.7% in the 3rd quarter. American Century Companies Inc. now owns 204,642 shares of the company’s stock valued at $33,490,000 after purchasing an additional 203,009 shares in the last quarter. DAVENPORT & Co LLC boosted its holdings in J&J Snack Foods by 4.9% in the 4th quarter. DAVENPORT & Co LLC now owns 194,357 shares of the company’s stock valued at $32,741,000 after purchasing an additional 9,094 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in J&J Snack Foods by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 174,686 shares of the company’s stock worth $29,197,000 after purchasing an additional 2,578 shares during the period. Hedge funds and other institutional investors own 76.04% of the company’s stock.

Insider Transactions at J&J Snack Foods

In other news, VP Robert Cranmer sold 2,278 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $162.03, for a total transaction of $369,104.34. Following the sale, the vice president now owns 872 shares of the company’s stock, valued at approximately $141,290.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 22.20% of the company’s stock.

J&J Snack Foods Stock Performance

NASDAQ JJSF opened at $164.94 on Tuesday. The company has a current ratio of 2.41, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $158.65 and its two-hundred day moving average is $153.62. J&J Snack Foods Corp. has a 12-month low of $133.23 and a 12-month high of $177.71. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 37.15 and a beta of 0.61.

J&J Snack Foods (NASDAQ:JJSF) last released its earnings results on Monday, May 6th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.21. The company had revenue of $359.73 million for the quarter, compared to analysts’ expectations of $341.08 million. J&J Snack Foods had a return on equity of 10.71% and a net margin of 5.45%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 EPS. Research analysts expect that J&J Snack Foods Corp. will post 5.29 EPS for the current year.

J&J Snack Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Tuesday, June 18th will be paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, June 18th. J&J Snack Foods’s dividend payout ratio (DPR) is 66.22%.

Analyst Ratings Changes

Separately, Benchmark reiterated a “buy” rating and set a $195.00 target price on shares of J&J Snack Foods in a research report on Tuesday, May 7th.

J&J Snack Foods Company 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.