J & J Snack Foods (NASDAQ:JJSF) Shares Gap Up on Strong Earnings

Key Points

• J & J Snack Foods Corp. shares opened at $126.73 after reporting a quarterly EPS of $2.00, exceeding analysts' expectations of $1.80.
• The company announced a quarterly dividend of $0.78 per share, resulting in an annualized yield of 2.6% and a payout ratio of 80%.
• Benchmark lowered its price objective for J & J Snack Foods from $165.00 to $150.00, while Wall Street Zen downgraded the stock from "hold" to "sell".

J & J Snack Foods Corp. (NASDAQ:JJSF - Get Free Report) shares gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $115.21, but opened at $126.73. J & J Snack Foods shares last traded at $119.24, with a volume of 24,520 shares trading hands.

The company reported $2.00 EPS for the quarter, beating analysts' consensus estimates of $1.80 by $0.20. J & J Snack Foods had a net margin of 4.79% and a return on equity of 8.78%. During the same quarter in the prior year, the firm earned $1.98 EPS. J & J Snack Foods's revenue was up 3.3% on a year-over-year basis.

J & J Snack Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Tuesday, June 17th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $3.12 dividend on an annualized basis and a yield of 2.6%. J & J Snack Foods's payout ratio is presently 80.00%.

Analyst Ratings Changes

JJSF has been the topic of a number of research analyst reports. Benchmark lowered their price objective on shares of J & J Snack Foods from $165.00 to $150.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen downgraded shares of J & J Snack Foods from a "hold" rating to a "sell" rating in a research report on Sunday, June 29th.

Institutional Trading of J & J Snack Foods

Institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake in J & J Snack Foods by 2.7% in the first quarter. Principal Financial Group Inc. now owns 77,823 shares of the company's stock valued at $10,251,000 after acquiring an additional 2,026 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in J & J Snack Foods by 10.1% in the first quarter. Envestnet Asset Management Inc. now owns 26,615 shares of the company's stock valued at $3,506,000 after acquiring an additional 2,431 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in J & J Snack Foods by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 162,460 shares of the company's stock valued at $21,399,000 after acquiring an additional 1,565 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in J & J Snack Foods in the fourth quarter valued at approximately $674,000. Finally, Bank of Montreal Can lifted its stake in J & J Snack Foods by 18.3% in the fourth quarter. Bank of Montreal Can now owns 2,002 shares of the company's stock valued at $311,000 after acquiring an additional 310 shares during the last quarter. 76.04% of the stock is currently owned by institutional investors and hedge funds.

J & J Snack Foods Price Performance

The stock's 50 day simple moving average is $115.46 and its 200-day simple moving average is $124.46. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 30.37 and a beta of 0.45.

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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