J & J Snack Foods Corp. (NASDAQ:JJSF – Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $80.12 and traded as high as $82.47. J & J Snack Foods shares last traded at $80.78, with a volume of 159,498 shares changing hands.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of J & J Snack Foods in a research note on Wednesday, June 24th. Jefferies Financial Group raised J & J Snack Foods from a “hold” rating to a “buy” rating and raised their price objective for the stock from $81.00 to $101.00 in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $110.50.
Get Our Latest Analysis on J & J Snack Foods
J & J Snack Foods Stock Down 2.6%
J & J Snack Foods (NASDAQ:JJSF – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.26. J & J Snack Foods had a return on equity of 8.93% and a net margin of 3.23%.The business had revenue of $425.96 million during the quarter, compared to analysts’ expectations of $427.65 million. During the same period in the previous year, the firm posted $2.00 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. As a group, equities analysts predict that J & J Snack Foods Corp. will post 3.98 earnings per share for the current fiscal year.
J & J Snack Foods Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Tuesday, September 15th. J & J Snack Foods’s payout ratio is currently 123.08%.
Institutional Trading of J & J Snack Foods
Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in J & J Snack Foods during the 2nd quarter worth approximately $175,914,000. Dimensional Fund Advisors LP boosted its position in J & J Snack Foods by 14.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 624,021 shares of the company’s stock valued at $49,468,000 after buying an additional 79,093 shares during the period. Royce & Associates LP acquired a new position in shares of J & J Snack Foods in the fourth quarter worth $29,596,000. Bank of America Corp DE acquired a new position in shares of J & J Snack Foods in the second quarter worth $16,080,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of J & J Snack Foods during the second quarter worth $13,115,000. Institutional investors and hedge funds own 76.04% of the company’s stock.
About J & J Snack Foods
J&J Snack Foods Corp. develops, manufactures and distributes snack foods and frozen beverages for foodservice, retail and concession customers. Its product portfolio includes soft pretzels, churros, funnel cakes, cookies, baked goods, frozen novelties, Italian ice and frozen carbonated beverages.
The company markets products under brands including SUPERPRETZEL, ICEE, Luigi’s Real Italian Ice, Dippin’ Dots and Hola Churros, as well as through customer and private-label offerings. Its products are sold through venues such as restaurants, schools, theaters, stadiums, amusement parks and other entertainment locations, in addition to grocery and convenience channels.
Founded in 1971 by Gerald B.
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