J & J Snack Foods (NASDAQ:JJSF) Stock Moved Up to “Hold” by Zacks Research

Zacks Research upgraded shares of J & J Snack Foods (NASDAQ:JJSF) from a strong sell rating to a hold rating in a report published on Monday morning,Zacks reports.

Several other research firms have also recently commented on JJSF. Jefferies Financial Group raised shares of J & J Snack Foods from a “hold” rating to a “buy” rating and lifted their target price for the stock from $81.00 to $101.00 in a research note on Thursday, August 6th. Weiss Ratings restated a “sell (d+)” rating on shares of J & J Snack Foods in a report on Monday, September 21st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $110.50.

J & J Snack Foods Stock Up 1.6%

JJSF opened at $79.44 on Monday. The firm has a market cap of $1.49 billion, a P/E ratio of 30.55 and a beta of 0.40. The business’s fifty day simple moving average is $83.61 and its 200 day simple moving average is $79.55. J & J Snack Foods has a 52 week low of $68.87 and a 52 week high of $98.63. The company has a quick ratio of 1.47, a current ratio of 2.34 and a debt-to-equity ratio of 0.03.

J & J Snack Foods (NASDAQ:JJSF) last released its earnings results on Wednesday, August 5th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.26. The company had revenue of $425.96 million for the quarter, compared to analyst estimates of $427.65 million. J & J Snack Foods had a net margin of 3.23% and a return on equity of 8.93%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.00 EPS. As a group, equities research analysts anticipate that J & J Snack Foods will post 3.98 EPS for the current fiscal year.

J & J Snack Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Tuesday, September 15th. J & J Snack Foods’s dividend payout ratio (DPR) is 123.08%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JJSF. Engineers Gate Manager LP purchased a new position in J & J Snack Foods in the second quarter valued at approximately $716,000. Integrated Wealth Concepts LLC purchased a new position in shares of J & J Snack Foods in the 2nd quarter valued at $133,000. NewEdge Advisors LLC lifted its holdings in shares of J & J Snack Foods by 37.6% during the 2nd quarter. NewEdge Advisors LLC now owns 7,961 shares of the company’s stock valued at $585,000 after acquiring an additional 2,174 shares in the last quarter. Allworth Financial LP increased its holdings in J & J Snack Foods by 94.3% in the 2nd quarter. Allworth Financial LP now owns 645 shares of the company’s stock valued at $47,000 after purchasing an additional 313 shares in the last quarter. Finally, Nykredit A S acquired a new position in shares of J & J Snack Foods during the second quarter worth about $68,000. Institutional investors and hedge funds own 76.04% of the company’s stock.

About J & J Snack Foods

J&J Snack Foods Corp. is a manufacturer and distributor of snack foods and beverages serving the foodservice and retail markets. The company produces soft pretzels, frozen and baked goods, churros, funnel cakes, dough products, frozen novelties, and frozen carbonated and non-carbonated beverages.

Its portfolio includes brands such as SUPERPRETZEL, ICEE, LUIGI’S Italian Ice, Dippin’ Dots, and various churro, pretzel, and concession-oriented product lines. These products are sold through venues including convenience stores, restaurants, schools, entertainment locations, supermarkets, and other institutional and retail channels.

Founded in 1971, J&J Snack Foods is based in Pennsauken, New Jersey.