J & J Snack Foods (JJSF) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of J & J Snack Foods (NASDAQ:JJSF) from a hold rating to a sell rating in a report released on Saturday, November 18th.

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 equities research analysts also recently issued reports on the company. Jefferies Group set a $130.00 price objective on J & J Snack Foods and gave the company a hold rating in a research report on Thursday, November 16th. BidaskClub raised J & J Snack Foods from a sell rating to a hold rating in a research note on Monday, July 24th.

Shares of J & J Snack Foods (NASDAQ:JJSF) traded up $1.19 during trading on Friday, hitting $150.58. The stock had a trading volume of 47,722 shares, compared to its average volume of 63,077. The stock has a market capitalization of $2,822.56, a P/E ratio of 36.01 and a beta of 0.81. J & J Snack Foods has a fifty-two week low of $121.20 and a fifty-two week high of $154.02.

J & J Snack Foods (NASDAQ:JJSF) last posted its earnings results on Thursday, November 9th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. J & J Snack Foods had a return on equity of 11.91% and a net margin of 7.30%. The company had revenue of $316.73 million for the quarter, compared to the consensus estimate of $287.91 million. During the same period in the previous year, the business earned $1.10 earnings per share. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. research analysts anticipate that J & J Snack Foods will post 4.45 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Wednesday, December 13th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.20%. The ex-dividend date is Tuesday, December 12th. This is a boost from J & J Snack Foods’s previous quarterly dividend of $0.42. J & J Snack Foods’s dividend payout ratio (DPR) is 40.00%.

A number of hedge funds and other institutional investors have recently made changes to their positions in JJSF. Acrospire Investment Management LLC purchased a new stake in shares of J & J Snack Foods during the 2nd quarter valued at $130,000. Riverhead Capital Management LLC lifted its holdings in shares of J & J Snack Foods by 36.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,500 shares of the company’s stock valued at $198,000 after purchasing an additional 400 shares during the last quarter. Brightworth purchased a new stake in shares of J & J Snack Foods during the 3rd quarter valued at $210,000. Quantbot Technologies LP lifted its holdings in shares of J & J Snack Foods by 2,268.4% during the 2nd quarter. Quantbot Technologies LP now owns 1,800 shares of the company’s stock valued at $237,000 after purchasing an additional 1,724 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of J & J Snack Foods by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,928 shares of the company’s stock valued at $255,000 after purchasing an additional 289 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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J & J Snack Foods Company Profile

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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