Confluence Investment Management LLC Sells 38,791 Shares of J&J Snack Foods Corp. (NASDAQ:JJSF)

Confluence Investment Management LLC decreased its holdings in J&J Snack Foods Corp. (NASDAQ:JJSF) by 62.9% in the second quarter, Holdings Channel reports. The fund owned 22,839 shares of the company’s stock after selling 38,791 shares during the quarter. Confluence Investment Management LLC’s holdings in J&J Snack Foods were worth $3,708,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Fidelis Capital Partners LLC bought a new position in shares of J&J Snack Foods in the 1st quarter valued at about $29,000. YHB Investment Advisors Inc. purchased a new stake in J&J Snack Foods in the 1st quarter worth about $44,000. Newbridge Financial Services Group Inc. purchased a new stake in J&J Snack Foods in the 1st quarter worth about $69,000. Covestor Ltd raised its position in J&J Snack Foods by 54,200.0% in the 1st quarter. Covestor Ltd now owns 543 shares of the company’s stock worth $78,000 after purchasing an additional 542 shares during the period. Finally, USA Financial Formulas purchased a new stake in J&J Snack Foods in the 4th quarter worth about $105,000. Institutional investors own 76.04% of the company’s stock.

Analyst Ratings Changes

Separately, Benchmark reduced their price objective on shares of J&J Snack Foods from $205.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 16th.

J&J Snack Foods Trading Down 0.6 %

J&J Snack Foods stock traded down $0.95 during midday trading on Friday, reaching $166.46. The stock had a trading volume of 74,961 shares, compared to its average volume of 90,497. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 37.49 and a beta of 0.61. The company has a fifty day moving average of $165.41 and a 200 day moving average of $153.95. J&J Snack Foods Corp. has a 52-week low of $133.23 and a 52-week high of $177.71. The company has a quick ratio of 1.33, a current ratio of 2.41 and a debt-to-equity ratio of 0.02.

J&J Snack Foods (NASDAQ:JJSF) last issued its earnings results on Monday, May 6th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.21. The business had revenue of $359.73 million for the quarter, compared to analyst estimates of $341.08 million. J&J Snack Foods had a net margin of 5.45% and a return on equity of 10.71%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $0.43 earnings per share. On average, analysts anticipate that J&J Snack Foods Corp. will post 5.29 earnings per share for the current fiscal year.

J&J Snack Foods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Tuesday, June 18th were given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Tuesday, June 18th. J&J Snack Foods’s dividend payout ratio (DPR) is presently 66.22%.

Insider Transactions at J&J Snack Foods

In related news, VP Robert Cranmer sold 2,278 shares of J&J Snack Foods stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $162.03, for a total transaction of $369,104.34. Following the transaction, the vice president now directly owns 872 shares of the company’s stock, valued at $141,290.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 22.20% of the company’s stock.

About J&J Snack Foods

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.