J & J Snack Foods (NASDAQ:JJSF) Sets New 12-Month Low - Here's What Happened

Key Points

• J & J Snack Foods Corp. (NASDAQ:JJSF) hit a new 52-week low of $94.00 during trading, with a volume of 61,724 shares exchanged.
• The company reported earnings per share (EPS) of $2.00, exceeding analyst estimates of $1.74, and had a revenue of $454.30 million for the last quarter.
• J & J Snack Foods announced a quarterly dividend increase to $0.80, representing a 3.4% dividend yield and a payout ratio of 74.59%.

Shares of J & J Snack Foods Corp. (NASDAQ:JJSF - Get Free Report) hit a new 52-week low during trading on Thursday . The stock traded as low as $94.00 and last traded at $94.30, with a volume of 61724 shares trading hands. The stock had previously closed at $95.36.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of J & J Snack Foods in a research note on Wednesday. Wall Street Zen raised shares of J & J Snack Foods from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, J & J Snack Foods currently has an average rating of "Hold" and an average price target of $142.50.

J & J Snack Foods Stock Performance

The company's fifty day moving average price is $106.19 and its 200-day moving average price is $115.86. The stock has a market cap of $1.83 billion, a P/E ratio of 21.86 and a beta of 0.38.

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 (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.26. The firm had revenue of $454.30 million during the quarter, compared to analyst estimates of $445.98 million. J & J Snack Foods had a net margin of 5.24% and a return on equity of 8.79%. The business's revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned $1.98 EPS. Analysts anticipate that J & J Snack Foods Corp. will post 4.75 earnings per share for the current fiscal year.

J & J Snack Foods Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 16th were issued a $0.80 dividend. This is a boost from J & J Snack Foods's previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, September 16th. This represents a $3.20 annualized dividend and a dividend yield of 3.4%. J & J Snack Foods's dividend payout ratio (DPR) is 74.59%.

Institutional Investors Weigh In On J & J Snack Foods

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of J & J Snack Foods by 38.0% in the 3rd quarter. GAMMA Investing LLC now owns 966 shares of the company's stock worth $93,000 after acquiring an additional 266 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in J & J Snack Foods by 18.4% during the 2nd quarter. Texas Permanent School Fund Corp now owns 12,689 shares of the company's stock valued at $1,439,000 after buying an additional 1,971 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in J & J Snack Foods by 23.5% during the 2nd quarter. Squarepoint Ops LLC now owns 10,328 shares of the company's stock valued at $1,171,000 after buying an additional 1,964 shares in the last quarter. Ranger Investment Management L.P. lifted its holdings in J & J Snack Foods by 52.4% during the 2nd quarter. Ranger Investment Management L.P. now owns 200,540 shares of the company's stock valued at $22,743,000 after buying an additional 68,916 shares in the last quarter. Finally, State of Wyoming lifted its holdings in J & J Snack Foods by 93.0% during the 2nd quarter. State of Wyoming now owns 2,150 shares of the company's stock valued at $244,000 after buying an additional 1,036 shares in the last quarter. Institutional investors own 76.04% of the company's stock.

About J & J Snack Foods

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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