Zacks Investment Research upgraded shares of J & J Snack Foods (NASDAQ:JJSF) from a sell rating to a hold rating in a report issued on Tuesday.
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. “
Several other brokerages have also issued reports on JJSF. BidaskClub upgraded J & J Snack Foods from a buy rating to a strong-buy rating in a research report on Wednesday, November 21st. Jefferies Financial Group reiterated a hold rating and issued a $145.00 price objective on shares of J & J Snack Foods in a research report on Thursday, January 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $145.00.
J & J Snack Foods (NASDAQ:JJSF) last issued its quarterly earnings data on Monday, January 28th. The company reported $0.88 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. J & J Snack Foods had a return on equity of 10.95% and a net margin of 7.41%. The business had revenue of $271.60 million during the quarter, compared to analyst estimates of $271.75 million. During the same period in the previous year, the firm earned $0.77 EPS. J & J Snack Foods’s quarterly revenue was up 2.4% compared to the same quarter last year. Analysts anticipate that J & J Snack Foods will post 4.88 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Thursday, March 14th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $2.00 dividend on an annualized basis and a yield of 1.33%. J & J Snack Foods’s dividend payout ratio (DPR) is currently 49.26%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of J & J Snack Foods by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 171,253 shares of the company’s stock valued at $24,761,000 after purchasing an additional 13,610 shares in the last quarter. Norges Bank purchased a new position in shares of J & J Snack Foods in the fourth quarter valued at $26,425,000. Amalgamated Bank purchased a new position in shares of J & J Snack Foods in the fourth quarter valued at $339,000. Public Employees Retirement System of Ohio grew its position in shares of J & J Snack Foods by 81.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 31,479 shares of the company’s stock valued at $4,552,000 after purchasing an additional 14,147 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of J & J Snack Foods in the fourth quarter valued at $637,000. Institutional investors own 71.79% of the company’s stock.
About J & J Snack Foods
J & J Snack Foods Corp. manufactures, markets, and distributes nutritional snack foods and beverages in the United States, Mexico, and Canada. It operates in three segments: Food Service, Retail Supermarkets, and Frozen Beverages. The company offers soft pretzels under the SUPERPRETZEL, PRETZEL FILLERS, PRETZELFILS, GOURMET TWISTS, MR.
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