J & J Snack Foods (NASDAQ:JJSF) Stock Moved Down to Strong Sell by Zacks Research

Zacks Research downgraded shares of J & J Snack Foods (NASDAQ:JJSF) from a hold rating to a strong sell rating in a research note published on Tuesday morning,Zacks reports.

JJSF has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of J & J Snack Foods in a research note on Monday, September 21st. Jefferies Financial Group upgraded shares of J & J Snack Foods from a “hold” rating to a “buy” rating and increased their price objective for the company from $81.00 to $101.00 in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, J & J Snack Foods presently has a consensus rating of “Hold” and a consensus target price of $110.50.

J & J Snack Foods Stock Up 4.6%

Shares of JJSF opened at $91.01 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.34 and a quick ratio of 1.47. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 35.00 and a beta of 0.41. J & J Snack Foods has a 1 year low of $68.87 and a 1 year high of $98.63. The business’s 50 day simple moving average is $82.04 and its 200-day simple moving average is $81.44.

J & J Snack Foods (NASDAQ:JJSF) last posted its earnings results 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 net margin of 3.23% and a return on equity of 8.93%. The firm had revenue of $425.96 million during the quarter, compared to analyst estimates of $427.65 million. During the same period last year, the firm posted $2.00 earnings per share. J & J Snack Foods’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities analysts expect that J & J Snack Foods will post 3.87 earnings per share for the current fiscal year.

J & J Snack Foods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $3.20 annualized dividend and a dividend yield of 3.5%. J & J Snack Foods’s payout ratio is currently 123.08%.

Institutional Trading of J & J Snack Foods

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in J & J Snack Foods during the second quarter valued at $175,914,000. Bank of America Corp DE purchased a new stake in shares of J & J Snack Foods in the second quarter valued at $16,080,000. Bank of New York Mellon Corp purchased a new stake in shares of J & J Snack Foods in the second quarter valued at $13,115,000. Dimensional Fund Advisors LP raised its stake in shares of J & J Snack Foods by 14.5% in the first quarter. Dimensional Fund Advisors LP now owns 624,021 shares of the company’s stock valued at $49,468,000 after acquiring an additional 79,093 shares during the period. Finally, Corient Private Wealth LP bought a new stake in shares of J & J Snack Foods in the 2nd quarter worth about $3,824,000. Hedge funds and other institutional investors own 76.04% of the company’s stock.

About J & J Snack Foods

J&J Snack Foods Corp. manufactures and distributes snack foods and frozen beverages for retail and foodservice customers. Its products include soft pretzels, churros, funnel cakes, cookies, baked goods, frozen novelties and frozen juice treats, as well as frozen carbonated beverages and related dispensing products.

The company markets products under brands including SuperPretzel, ICEE, Dippin’ Dots, LUIGI’S, MAMMA BELLA’S and MINUTE MAID frozen novelties, along with products sold under customer and private-label brands.