J & J Snack Foods (NASDAQ:JJSF) Hits New 1-Year Low - Here's What Happened

Key Points

• J & J Snack Foods shares hit a new 52-week low, trading as low as $73.53 (last ~ $76.57) while the 50- and 200-day moving averages sit at $81.67 and $86.99; analysts' consensus rating is a Hold with a $130 price target.
• The company slightly beat EPS ($0.40 vs. $0.39) but reported a 3.2% year-over-year revenue decline and a revenue miss, and it pays a 4.2% dividend (DPR ~101.9%) while authorizing a $50 million share buyback.

J & J Snack Foods Corp. (NASDAQ:JJSF - Get Free Report) shares hit a new 52-week low during trading on Friday . The stock traded as low as $73.53 and last traded at $76.5670, with a volume of 53505 shares traded. The stock had previously closed at $75.71.

Analysts Set New Price Targets

Several brokerages have commented on JJSF. Benchmark reiterated a "buy" rating on shares of J & J Snack Foods in a report on Tuesday, January 20th. Zacks Research cut shares of J & J Snack Foods from a "strong-buy" rating to a "hold" rating in a report on Monday, January 19th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of J & J Snack Foods in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $130.00.

J & J Snack Foods Price Performance

The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 25.85 and a beta of 0.43. The firm's fifty day moving average is $81.67 and its 200 day moving average is $86.99.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. The business had revenue of $344.82 million during the quarter, compared to analysts' expectations of $349.67 million. J & J Snack Foods had a net margin of 3.75% and a return on equity of 9.01%. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $0.35 earnings per share. Equities research analysts forecast that J & J Snack Foods Corp. will post 4.35 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, April 7th. Investors of record on Tuesday, March 17th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Tuesday, March 17th. J & J Snack Foods's dividend payout ratio (DPR) is currently 101.91%.

J & J Snack Foods declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 3rd that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy up to 2.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On J & J Snack Foods

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP raised its position in J & J Snack Foods by 485.1% during the fourth quarter. Allworth Financial LP now owns 275 shares of the company's stock valued at $25,000 after acquiring an additional 228 shares in the last quarter. Global Retirement Partners LLC raised its position in J & J Snack Foods by 1,133.3% during the fourth quarter. Global Retirement Partners LLC now owns 333 shares of the company's stock valued at $30,000 after acquiring an additional 306 shares in the last quarter. IFP Advisors Inc raised its position in J & J Snack Foods by 1,450.0% during the fourth quarter. IFP Advisors Inc now owns 341 shares of the company's stock valued at $31,000 after acquiring an additional 319 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in J & J Snack Foods by 902.9% during the second quarter. EverSource Wealth Advisors LLC now owns 351 shares of the company's stock valued at $40,000 after acquiring an additional 316 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in J & J Snack Foods by 58.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 404 shares of the company's stock valued at $36,000 after acquiring an additional 149 shares in the last quarter. Institutional investors own 76.04% of the company's stock.

About J & J Snack Foods

J & J Snack Foods NASDAQ: JJSF is a U.S.-based manufacturer and distributor of branded snack foods and frozen beverages. Headquartered in Pennsauken, New Jersey, the company develops, produces and markets a broad array of proprietary and licensed products for retail, concession and foodservice customers. Its offerings span soft pretzels, frozen novelties, real Italian ice, churros and packaged beverages under well-known names such as ICEE, SuperPretzel, Luigi's and ChurroMan.

Founded in 1971 by Gerald B.

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