Wall Street Zen Downgrades J & J Snack Foods (NASDAQ:JJSF) to Sell

Wall Street Zen downgraded shares of J & J Snack Foods (NASDAQ:JJSF - Free Report) from a hold rating to a sell rating in a research note released on Sunday.

Separately, Benchmark cut their price target on shares of J & J Snack Foods from $165.00 to $150.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th.

J & J Snack Foods Stock Up 0.4%

Shares of NASDAQ:JJSF traded up $0.42 during midday trading on Friday, reaching $118.97. The company's stock had a trading volume of 60,178 shares, compared to its average volume of 117,202. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 30.58 and a beta of 0.44. The business has a 50 day moving average price of $117.46 and a 200 day moving average price of $130.71. J & J Snack Foods has a 1 year low of $109.71 and a 1 year high of $180.80.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.34). The business had revenue of $356.10 million during the quarter, compared to analysts' expectations of $369.01 million. J & J Snack Foods had a net margin of 4.79% and a return on equity of 8.78%. The firm's quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 EPS. Sell-side analysts anticipate that J & J Snack Foods will post 4.75 earnings per share for the current fiscal year.

J & J Snack Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Tuesday, June 17th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Tuesday, June 17th. J & J Snack Foods's payout ratio is currently 80.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of JJSF. Norges Bank acquired a new stake in shares of J & J Snack Foods in the fourth quarter worth $28,647,000. Westwood Holdings Group Inc. increased its holdings in J & J Snack Foods by 21.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 610,477 shares of the company's stock valued at $80,412,000 after purchasing an additional 106,459 shares in the last quarter. GAMMA Investing LLC increased its holdings in J & J Snack Foods by 7,763.8% in the 1st quarter. GAMMA Investing LLC now owns 47,419 shares of the company's stock valued at $6,246,000 after purchasing an additional 46,816 shares in the last quarter. Nuveen LLC purchased a new position in J & J Snack Foods in the first quarter valued at about $5,384,000. Finally, Millennium Management LLC raised 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 valued at $9,566,000 after purchasing an additional 39,933 shares during the period. 76.04% of the stock is 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.