Zacks Investment Research downgraded shares of J & J Snack Foods (NASDAQ:JJSF) from a buy rating to a hold rating in a research note published on Wednesday.
According to Zacks, “J&J Snack Foods Corporation is an American manufacturer, marketer, and distributor of branded niche snack foods and frozen beverages for the food service and retail supermarket industries. Manufactured and distributed nationwide, their principal products include SUPERPRETZEL, BAVARIAN BAKERY and other soft pretzels, ICEE and SLUSH PUPPIE frozen beverages, LUIGI’S, MINUTE MAID frozen juice bars and ices, WHOLE FRUIT sorbet and frozen fruit bars, MARY B’S biscuits and dumplings, DADDY RAY’S fig and fruit bars, TIO PEPE’S, CALIFORNIA CHURROS and OREO Churros, PATIO Burritos and other handheld sandwiches, THE FUNNEL CAKE FACTORY funnel cakes, and several bakery brands within COUNTRY HOME BAKERS and HILL & VALLEY. “
A number of other research analysts have also issued reports on the stock. CL King initiated coverage on shares of J & J Snack Foods in a research note on Tuesday, December 19th. They set a buy rating on the stock. Jefferies Group restated a hold rating and set a $135.00 price target on shares of J & J Snack Foods in a research note on Tuesday, January 30th. BidaskClub upgraded shares of J & J Snack Foods from a sell rating to a hold rating in a research note on Friday, February 9th. Finally, KeyCorp initiated coverage on shares of J & J Snack Foods in a research note on Wednesday, March 28th. They set a sector weight rating on the stock. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $145.50.
J & J Snack Foods (NASDAQ:JJSF) last posted its quarterly earnings data on Monday, January 29th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.02). The firm had revenue of $265.20 million for the quarter, compared to the consensus estimate of $253.95 million. J & J Snack Foods had a return on equity of 11.79% and a net margin of 9.07%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 EPS. analysts forecast that J & J Snack Foods will post 4.96 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 4th. Shareholders of record on Thursday, March 15th were paid a dividend of $0.45 per share. The ex-dividend date was Wednesday, March 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.30%. J & J Snack Foods’s payout ratio is 42.76%.
In other J & J Snack Foods news, insider Robert M. Radano sold 5,250 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $139.34, for a total transaction of $731,535.00. Following the transaction, the insider now owns 99,872 shares in the company, valued at approximately $13,916,164.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 21.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Shelton Capital Management purchased a new stake in shares of J & J Snack Foods in the 4th quarter valued at $204,000. CIBC Asset Management Inc purchased a new stake in shares of J & J Snack Foods in the 4th quarter valued at $207,000. Bruderman Asset Management LLC purchased a new stake in shares of J & J Snack Foods in the 4th quarter valued at $216,000. Teton Advisors Inc. purchased a new stake in shares of J & J Snack Foods in the 4th quarter valued at $228,000. Finally, Two Sigma Advisers LP purchased a new stake in shares of J & J Snack Foods in the 4th quarter valued at $235,000. 68.93% of the stock is currently owned by institutional investors and hedge funds.
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About J & J Snack Foods
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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