Wall Street Zen Upgrades J&J Snack Foods (NASDAQ:JJSF) to Hold

Wall Street Zen upgraded shares of J&J Snack Foods (NASDAQ:JJSF - Free Report) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

Several other research firms have also weighed in on JJSF. Jefferies Financial Group lowered their price objective on shares of J&J Snack Foods from $175.00 to $135.00 and set a "hold" rating for the company in a research note on Tuesday, February 18th. Benchmark decreased their price target on shares of J&J Snack Foods from $165.00 to $150.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th.

J&J Snack Foods Trading Up 2.0%

NASDAQ:JJSF traded up $2.33 on Friday, reaching $116.00. 115,334 shares of the stock traded hands, compared to its average volume of 111,429. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 26.73 and a beta of 0.44. The company's 50 day moving average is $123.96 and its 200-day moving average is $137.54. J&J Snack Foods has a 1-year low of $111.11 and a 1-year high of $180.80.

J&J Snack Foods (NASDAQ:JJSF - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.69 by ($0.34). J&J Snack Foods had a net margin of 5.31% and a return on equity of 9.84%. The firm had revenue of $356.10 million for the quarter, compared to analyst estimates of $369.01 million. During the same period in the prior year, the company posted $0.84 EPS. The business's revenue for the quarter was down 1.0% compared to the same quarter last year. On average, equities research analysts forecast that J&J Snack Foods will post 4.75 EPS for the current fiscal year.

J&J Snack Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Tuesday, June 17th will be paid a $0.78 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $3.12 dividend on an annualized basis and a yield of 2.69%. J&J Snack Foods's dividend payout ratio (DPR) is presently 80.00%.

Hedge Funds Weigh In On J&J Snack Foods

A number of large investors have recently modified their holdings of the company. Summit Investment Advisors Inc. lifted its holdings in shares of J&J Snack Foods by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,596 shares of the company's stock worth $248,000 after purchasing an additional 101 shares in the last quarter. Huntington National Bank lifted its holdings in shares of J&J Snack Foods by 25.4% in the 4th quarter. Huntington National Bank now owns 513 shares of the company's stock worth $80,000 after purchasing an additional 104 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of J&J Snack Foods by 27.4% in the 4th quarter. Blue Trust Inc. now owns 498 shares of the company's stock worth $86,000 after purchasing an additional 107 shares in the last quarter. Nicolet Advisory Services LLC lifted its holdings in shares of J&J Snack Foods by 4.8% in the 1st quarter. Nicolet Advisory Services LLC now owns 2,400 shares of the company's stock worth $318,000 after purchasing an additional 110 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of J&J Snack Foods by 0.7% in the 4th quarter. Alliancebernstein L.P. now owns 16,946 shares of the company's stock worth $2,629,000 after purchasing an additional 125 shares in the last quarter. 76.04% of the stock is currently owned by institutional investors.

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.