StockNews.com Initiates Coverage on J&J Snack Foods (NASDAQ:JJSF)

Posted by Emily Schoerning on Mar 19th, 2023

StockNews.com began coverage on shares of J&J Snack Foods (NASDAQ:JJSF – Get Rating) in a research note published on Thursday morning. The brokerage issued a sell rating on the stock.

JJSF has been the topic of a number of other reports. TheStreet downgraded J&J Snack Foods from a b rating to a c rating in a research report on Monday, January 30th. Benchmark reiterated a buy rating and issued a $175.00 target price on shares of J&J Snack Foods in a research report on Tuesday, January 31st. Finally, CL King boosted their target price on J&J Snack Foods from $165.00 to $180.00 in a research report on Wednesday, November 16th.

J&J Snack Foods Price Performance

Shares of NASDAQ JJSF traded down $2.70 during mid-day trading on Thursday, reaching $140.81. The company’s stock had a trading volume of 285,467 shares, compared to its average volume of 67,572. The firm has a market capitalization of $2.71 billion, a PE ratio of 63.43 and a beta of 0.53. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.76 and a quick ratio of 1.61. The stock has a fifty day moving average of $144.56 and a two-hundred day moving average of $146.01. J&J Snack Foods has a 52 week low of $117.45 and a 52 week high of $165.90.

J&J Snack Foods (NASDAQ:JJSF – Get Rating) last released its quarterly earnings data on Tuesday, January 31st. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The business had revenue of $351.34 million during the quarter, compared to the consensus estimate of $360.70 million. J&J Snack Foods had a return on equity of 5.77% and a net margin of 3.03%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the company earned $0.58 EPS. As a group, sell-side analysts anticipate that J&J Snack Foods will post 4.35 EPS for the current fiscal year.

J&J Snack Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 11th. Shareholders of record on Tuesday, March 21st will be given a dividend of $0.70 per share. The ex-dividend date is Monday, March 20th. This represents a $2.80 dividend on an annualized basis and a yield of 1.99%. J&J Snack Foods’s dividend payout ratio (DPR) is presently 126.13%.

Institutional Investors Weigh In On J&J Snack Foods

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Middle East FZE purchased a new stake in J&J Snack Foods during the fourth quarter valued at approximately $69,000. Capital Impact Advisors LLC raised its holdings in shares of J&J Snack Foods by 51.4% in the fourth quarter. Capital Impact Advisors LLC now owns 3,663 shares of the company’s stock worth $548,000 after buying an additional 1,244 shares during the period. Legal & General Group Plc raised its holdings in shares of J&J Snack Foods by 2.0% in the fourth quarter. Legal & General Group Plc now owns 44,766 shares of the company’s stock worth $6,702,000 after buying an additional 899 shares during the period. Millennium Management LLC purchased a new stake in shares of J&J Snack Foods in the fourth quarter worth approximately $1,303,000. Finally, Morgan Stanley raised its holdings in shares of J&J Snack Foods by 319.3% in the fourth quarter. Morgan Stanley now owns 761,978 shares of the company’s stock worth $114,076,000 after buying an additional 580,248 shares during the period. 76.89% of the stock is currently owned by hedge funds and other institutional investors.

J&J Snack Foods Company Profile

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J&J Snack Foods Corp. engages in the manufacturing of nutritional snack foods and distribution of frozen beverages to the food service and retail supermarket industries. It operates through the following segments: Food Service, Retail Supermarkets, and Frozen Beverages. The Food Service segment includes soft pretzels, frozen juice treats and desserts, churros, dough enrobed handheld products, and baked goods.