J & J Snack Foods (NASDAQ:JJSF) Hits New 52-Week Low - Here's What Happened

Key Points

• J & J Snack Foods shares hit a new 52-week low at $107.22 during trading, down from a previous close of $111.34.
• Wall Street analysts have mixed ratings on the stock, with a downgrade from "hold" to "sell" by Wall Street Zen, while Benchmark maintains a "buy" rating but reduced the target price from $165 to $150.
• The company reported a revenue increase of 3.3% year-over-year, with earnings per share of $2.00 for the quarter, surpassing analysts' expectations of $1.74.

Shares of J & J Snack Foods Corp. (NASDAQ:JJSF - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $108.56 and last traded at $107.22, with a volume of 18136 shares traded. The stock had previously closed at $111.34.

Wall Street Analysts Forecast Growth

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

J & J Snack Foods Stock Down 2.8%

The company has a 50 day moving average price of $115.51 and a 200-day moving average price of $124.32. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 25.22 and a beta of 0.45.

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

J & J Snack Foods Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Tuesday, June 17th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 17th. J & J Snack Foods's dividend payout ratio (DPR) is presently 80.00%.

Hedge Funds Weigh In On J & J Snack Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JJSF. Caitong International Asset Management Co. Ltd lifted its holdings in shares of J & J Snack Foods by 243.5% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the company's stock worth $48,000 after acquiring an additional 302 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of J & J Snack Foods in the 4th quarter worth about $55,000. AlphaQuest LLC bought a new position in shares of J & J Snack Foods during the 2nd quarter valued at about $59,000. Parallel Advisors LLC lifted its position in J & J Snack Foods by 198.9% in the 2nd quarter. Parallel Advisors LLC now owns 529 shares of the company's stock worth $60,000 after buying an additional 352 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in J & J Snack Foods by 94.4% during the second quarter. GAMMA Investing LLC now owns 700 shares of the company's stock valued at $79,000 after acquiring an additional 340 shares during the last quarter. 76.04% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.