J & J Snack Foods (NASDAQ:JJSF) Sets New 52-Week Low - Here's Why

Key Points

• J & J Snack Foods Corp. shares reached a new 52-week low of $91.73 on Wednesday, with the stock last trading at $94.69.
• Analysts have given the stock a consensus rating of "Hold" with a price target of $142.50, indicating mixed sentiment on its future performance.
• The company recently increased its quarterly dividend to $0.80 per share, reflecting a dividend yield of 3.4% and a payout ratio of 74.59%.

J & J Snack Foods Corp. (NASDAQ:JJSF - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $91.73 and last traded at $94.69, with a volume of 244870 shares changing hands. The stock had previously closed at $92.03.

Wall Street Analyst Weigh In

A number of analysts have commented on JJSF shares. Weiss Ratings restated a "hold (c-)" rating on shares of J & J Snack Foods in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of J & J Snack Foods from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $142.50.

J & J Snack Foods Trading Up 2.9%

The company's 50-day moving average price is $104.87 and its two-hundred day moving average price is $115.04. The company has a market cap of $1.84 billion, a P/E ratio of 22.07 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 EPS for the quarter, topping analysts' consensus estimates of $1.74 by $0.26. The business had revenue of $454.30 million for the quarter, compared to the consensus estimate 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 for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.98 EPS. Equities analysts forecast that J & J Snack Foods Corp. will post 4.75 earnings per share for the current year.

J & J Snack Foods Increases Dividend

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

Institutional Trading of J & J Snack Foods

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Exchange Traded Concepts LLC boosted its holdings in shares of J & J Snack Foods by 26.5% in the first quarter. Exchange Traded Concepts LLC now owns 13,487 shares of the company's stock worth $1,777,000 after buying an additional 2,829 shares during the period. Advisor Resource Council purchased a new stake in shares of J & J Snack Foods in the 1st quarter valued at approximately $540,000. Allspring Global Investments Holdings LLC boosted its stake in J & J Snack Foods by 1.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,629,344 shares of the company's stock worth $216,035,000 after purchasing an additional 24,139 shares during the period. Principal Financial Group Inc. grew its position in J & J Snack Foods by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 77,823 shares of the company's stock worth $10,251,000 after purchasing an additional 2,026 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in J & J Snack Foods by 1.0% during the 1st quarter. Bank of New York Mellon Corp now owns 162,460 shares of the company's stock worth $21,399,000 after purchasing an additional 1,565 shares in the last quarter. Institutional investors and hedge funds own 76.04% of the company's stock.

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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