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

Key Points

• J & J Snack Foods Corp. (NASDAQ:JJSF) stock reached a new 52-week low of $94.13 on Monday, closing slightly higher at $95.25 with a trading volume of 3,541 shares.
• Wall Street analysts have upgraded the stock from a "sell" to a "hold" rating, with a consensus rating of "Moderate Buy" and a target price of $142.50.
• The company announced a quarterly dividend increase from $0.78 to $0.80 per share, resulting in an annualized dividend of $3.20 and a yield of 3.3%.

J & J Snack Foods Corp. (NASDAQ:JJSF - Get Free Report)'s stock price hit a new 52-week low during trading on Monday . The company traded as low as $94.13 and last traded at $95.25, with a volume of 3541 shares changing hands. The stock had previously closed at $95.61.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of J & J Snack Foods from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.50.

J & J Snack Foods Price Performance

The firm has a 50 day moving average of $109.84 and a 200-day moving average of $117.80. The stock has a market capitalization of $1.86 billion, a P/E ratio of 22.29 and a beta of 0.42.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.26. J & J Snack Foods had a return on equity of 8.79% and a net margin of 5.24%.The firm had revenue of $454.30 million for the quarter, compared to the consensus estimate of $445.98 million. During the same quarter in the prior year, the business earned $1.98 EPS. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities analysts expect that J & J Snack Foods Corp. will post 4.75 earnings per share for the current year.

J & J Snack Foods Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.80 per share. This is an increase from J & J Snack Foods's previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, September 16th. J & J Snack Foods's payout ratio is currently 74.59%.

Institutional Investors Weigh In On J & J Snack Foods

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of J & J Snack Foods by 3.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,688,261 shares of the company's stock worth $200,143,000 after purchasing an additional 58,917 shares during the period. Vanguard Group Inc. grew its position in J & J Snack Foods by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 1,673,976 shares of the company's stock worth $220,496,000 after acquiring an additional 20,803 shares during the last quarter. Westwood Holdings Group Inc. grew its position in J & J Snack Foods by 21.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 610,477 shares of the company's stock worth $80,412,000 after acquiring an additional 106,459 shares during the last quarter. Geneva Capital Management LLC grew its position in J & J Snack Foods by 6.4% during the 2nd quarter. Geneva Capital Management LLC now owns 553,622 shares of the company's stock worth $62,786,000 after acquiring an additional 33,376 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of J & J Snack Foods by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 380,970 shares of the company's stock valued at $43,211,000 after buying an additional 6,334 shares during the last quarter. 76.04% of the stock is currently owned by institutional investors and hedge funds.

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.

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