J & J Snack Foods (NASDAQ:JJSF) Issues Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Key Points

• J & J Snack Foods reported earnings of $2.00 per share, surpassing analysts' expectations of $1.80 by $0.20, with a quarterly revenue increase of 3.3% year-over-year.
• The company declared a quarterly dividend of $0.78 per share, equating to an annualized dividend of $3.12 and a dividend yield of 2.6%.
• Shares of J & J Snack Foods rose to $120.32 following the earnings announcement, with a current market capitalization of $2.34 billion.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) released its earnings results on Tuesday. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.26, Zacks reports. J & J Snack Foods had a net margin of 4.79% and a return on equity of 8.78%. The company had revenue of $454.30 million during the quarter, compared to the consensus estimate of $445.98 million. During the same quarter in the previous year, the firm earned $1.98 EPS. The company's revenue was up 3.3% on a year-over-year basis.

J & J Snack Foods Stock Up 1.9%

Shares of JJSF stock traded up $2.16 during trading hours on Tuesday, reaching $117.37. 385,392 shares of the stock traded hands, compared to its average volume of 154,729. J & J Snack Foods has a 1-year low of $109.71 and a 1-year high of $180.80. The business has a fifty day moving average price of $115.46 and a 200 day moving average price of $124.46. The firm has a market capitalization of $2.28 billion, a PE ratio of 30.09 and a beta of 0.45.

J & J Snack Foods Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Tuesday, June 17th were issued a dividend of $0.78 per share. The ex-dividend date was Tuesday, June 17th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.7%. J & J Snack Foods's payout ratio is currently 80.00%.

Analysts Set New Price Targets

A number of research analysts have issued reports on JJSF shares. Wall Street Zen lowered shares of J & J Snack Foods from a "hold" rating to a "sell" rating in a research note on Sunday, June 29th. Benchmark reduced their price target on shares of J & J Snack Foods from $165.00 to $150.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its position in J & J Snack Foods by 122.1% in the first quarter. Millennium Management LLC now owns 72,625 shares of the company's stock worth $9,566,000 after acquiring an additional 39,933 shares in the last quarter. Jane Street Group LLC raised its position in shares of J & J Snack Foods by 465.8% in the 1st quarter. Jane Street Group LLC now owns 25,746 shares of the company's stock valued at $3,391,000 after acquiring an additional 21,196 shares during the period. Intech Investment Management LLC raised its position in shares of J & J Snack Foods by 50.9% in the 1st quarter. Intech Investment Management LLC now owns 11,386 shares of the company's stock valued at $1,500,000 after acquiring an additional 3,842 shares during the period. AQR Capital Management LLC acquired a new stake in J & J Snack Foods during the 1st quarter worth approximately $228,000. Finally, NewEdge Advisors LLC raised its holdings in shares of J & J Snack Foods by 49.6% in the first quarter. NewEdge Advisors LLC now owns 3,376 shares of the company's stock valued at $445,000 after purchasing an additional 1,120 shares during the last quarter. 76.04% of the stock is owned by hedge funds and other institutional investors.

J & J Snack Foods Company Profile

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 novelties, churros, handheld products, and baked goods.