J & J Snack Foods Corp. (JJSF) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of J & J Snack Foods Corp. (NASDAQ:JJSF) from a sell rating to a hold rating in a research note published on Wednesday.
According to Zacks, “J & J Snack Foods Corp. manufactures nutritional snack foods which it markets nationally to the food service and retail supermarket industries. Its principal snack food products are soft pretzels marketed principally under the brand name SUPERPRETZEL. The Company also markets frozen beverages to the food service industry under the brand names ICEE and ARCTIC BLAST in the United States, Mexico and Canada. Other snack products include Italian ice and frozen juice treats and desserts, churros (a Hispanic pastry), funnel cake, popcorn and bakery products. “
Separately, BidaskClub upgraded shares of J & J Snack Foods Corp. from a sell rating to a hold rating in a report on Monday, July 24th.
J & J Snack Foods Corp. (JJSF) traded down 0.07% during mid-day trading on Wednesday, hitting $131.86. 45,450 shares of the company traded hands. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 32.88 and a beta of 0.75. The company’s 50-day moving average is $128.16 and its 200-day moving average is $131.53. J & J Snack Foods Corp. has a one year low of $102.81 and a one year high of $143.21.
J & J Snack Foods Corp. (NASDAQ:JJSF) last issued its earnings results on Monday, July 24th. The company reported $1.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.49 by ($0.15). The firm had revenue of $295.40 million for the quarter, compared to analyst estimates of $297.83 million. J & J Snack Foods Corp. had a return on equity of 11.55% and a net margin of 7.33%. J & J Snack Foods Corp.’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 earnings per share. Analysts predict that J & J Snack Foods Corp. will post $4.19 EPS for the current year.
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J & J Snack Foods Corp. declared that its board has approved a stock buyback plan on Friday, August 4th that authorizes the company to repurchase 500,000 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Thursday, September 14th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $1.68 dividend on an annualized basis and a yield of 1.27%. J & J Snack Foods Corp.’s payout ratio is 41.90%.
Several large investors have recently added to or reduced their stakes in the business. 1st Global Advisors Inc. increased its holdings in shares of J & J Snack Foods Corp. by 1.3% in the second quarter. 1st Global Advisors Inc. now owns 3,003 shares of the company’s stock valued at $397,000 after purchasing an additional 39 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of J & J Snack Foods Corp. in the second quarter valued at $428,000. Westwood Holdings Group Inc. increased its holdings in shares of J & J Snack Foods Corp. by 2.6% in the second quarter. Westwood Holdings Group Inc. now owns 480,929 shares of the company’s stock valued at $63,463,000 after purchasing an additional 12,394 shares during the last quarter. Susquehanna International Group LLP increased its holdings in shares of J & J Snack Foods Corp. by 100.4% in the second quarter. Susquehanna International Group LLP now owns 16,029 shares of the company’s stock valued at $2,117,000 after purchasing an additional 8,032 shares during the last quarter. Finally, Atlanta Capital Management Co. L L C increased its holdings in shares of J & J Snack Foods Corp. by 1.2% in the second quarter. Atlanta Capital Management Co. L L C now owns 264,609 shares of the company’s stock valued at $34,947,000 after purchasing an additional 3,068 shares during the last quarter. Hedge funds and other institutional investors own 67.52% of the company’s stock.
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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