J & J Snack Foods Corp. (NASDAQ:JJSF) declared that its board has initiated a share repurchase plan, which allows the company to repurchase 500,000 shares on Friday, August 4th, EventVestor reports. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

J & J Snack Foods Corp. (JJSF) opened at 127.70 on Monday. J & J Snack Foods Corp. has a 1-year low of $102.81 and a 1-year high of $143.21. The firm has a 50-day moving average price of $132.41 and a 200-day moving average price of $132.57. The firm has a market capitalization of $2.39 billion, a PE ratio of 31.85 and a beta of 0.72.

J & J Snack Foods Corp. (NASDAQ:JJSF) last issued its earnings results on Monday, July 24th. The company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by $0.15. J & J Snack Foods Corp. had a net margin of 7.33% and a return on equity of 11.55%. The firm had revenue of $295.40 million during the quarter, compared to the consensus estimate of $297.83 million. During the same period in the previous year, the firm earned $1.43 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Equities analysts expect that J & J Snack Foods Corp. will post $4.20 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Thursday, September 14th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.32%. J & J Snack Foods Corp.’s dividend payout ratio (DPR) is currently 41.90%.

A number of research firms have issued reports on JJSF. Zacks Investment Research cut J & J Snack Foods Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 26th. BidaskClub raised J & J Snack Foods Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 24th.

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In other J & J Snack Foods Corp. news, insider Robert Joseph Pape sold 3,000 shares of J & J Snack Foods Corp. stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $131.29, for a total transaction of $393,870.00. Following the completion of the transaction, the insider now owns 15,221 shares in the company, valued at approximately $1,998,365.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.00% of the stock is currently owned by insiders.

J & J Snack Foods Corp. 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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