Norges Bank Buys New Stake in J&J Snack Foods Corp. (NASDAQ:JJSF)

Norges Bank bought a new position in shares of J&J Snack Foods Corp. (NASDAQ:JJSF - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 184,662 shares of the company's stock, valued at approximately $28,647,000. Norges Bank owned 0.95% of J&J Snack Foods as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JJSF. Smartleaf Asset Management LLC boosted its holdings in shares of J&J Snack Foods by 163.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 319 shares of the company's stock worth $50,000 after buying an additional 198 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in J&J Snack Foods during the fourth quarter valued at about $74,000. Blue Trust Inc. grew its position in shares of J&J Snack Foods by 27.4% in the fourth quarter. Blue Trust Inc. now owns 498 shares of the company's stock valued at $86,000 after purchasing an additional 107 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of J&J Snack Foods by 32.8% in the fourth quarter. GAMMA Investing LLC now owns 603 shares of the company's stock worth $94,000 after purchasing an additional 149 shares during the period. Finally, KBC Group NV lifted its position in shares of J&J Snack Foods by 48.2% during the 4th quarter. KBC Group NV now owns 627 shares of the company's stock worth $97,000 after purchasing an additional 204 shares during the last quarter. Institutional investors and hedge funds own 76.04% of the company's stock.

J&J Snack Foods Stock Performance

Shares of JJSF traded up $2.10 during trading hours on Friday, reaching $134.50. 95,561 shares of the company traded hands, compared to its average volume of 101,743. The stock's fifty day moving average is $130.56 and its 200 day moving average is $150.47. J&J Snack Foods Corp. has a 1-year low of $116.60 and a 1-year high of $180.80. The stock has a market cap of $2.62 billion, a P/E ratio of 30.99 and a beta of 0.48.

J&J Snack Foods (NASDAQ:JJSF - Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.29). J&J Snack Foods had a net margin of 5.31% and a return on equity of 9.84%. On average, equities research analysts predict that J&J Snack Foods Corp. will post 4.75 EPS for the current year.

J&J Snack Foods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 8th. Investors of record on Tuesday, March 18th were paid 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 2.32%. J&J Snack Foods's payout ratio is 71.89%.

Analyst Ratings Changes

JJSF has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their target price on J&J Snack Foods from $175.00 to $135.00 and set a "hold" rating on the stock in a report on Tuesday, February 18th. Benchmark restated a "buy" rating and issued a $200.00 price objective on shares of J&J Snack Foods in a research note on Tuesday, February 4th.

About J&J Snack Foods

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.