J & J Snack Foods (NASDAQ:JJSF) Share Price Breaks Above 200 Day Moving Average - Here's What Happened

Key Points

• J & J Snack Foods shares rose above their 200-day moving average of $79.70, reaching $81.97 before closing at $78.95 on volume of 283,619 shares.
• Analyst sentiment remains mixed: Jefferies upgraded the stock to “buy” and raised its target to $101, while Zacks moved to “hold” and Weiss Ratings maintained a sell rating. The consensus rating is “Hold,” with a $110.50 target price.
• The company exceeded quarterly EPS expectations, reporting $1.96 versus the $1.70 consensus, though revenue declined 6.3% year over year to $425.96 million. J & J Snack Foods also pays a $0.80 quarterly dividend, representing a 4.1% yield.

J & J Snack Foods Corp. (NASDAQ:JJSF - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $79.70 and traded as high as $81.97. J & J Snack Foods shares last traded at $78.95, with a volume of 283,619 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently weighed in on JJSF shares. Zacks Research upgraded J & J Snack Foods from a "strong sell" rating to a "hold" rating in a report on Monday, October 5th. Jefferies Financial Group upgraded shares of J & J Snack Foods from a "hold" rating to a "buy" rating and increased their target price for the stock from $81.00 to $101.00 in a report on Thursday, August 6th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of J & J Snack Foods in a research report on Monday, September 21st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $110.50.

J & J Snack Foods Trading Up 0.6%

The company has a market capitalization of $1.48 billion, a PE ratio of 30.37 and a beta of 0.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.34 and a quick ratio of 1.47. The company's fifty day moving average is $83.49 and its 200-day moving average is $79.70.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.26. The company had revenue of $425.96 million during the quarter, compared to analyst estimates of $427.65 million. J & J Snack Foods had a return on equity of 8.93% and a net margin of 3.23%. J & J Snack Foods's revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.00 earnings per share. On average, analysts anticipate that J & J Snack Foods Corp. will post 3.87 EPS for the current fiscal year.

J & J Snack Foods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, September 15th. J & J Snack Foods's payout ratio is presently 123.08%.

Institutional Investors Weigh In On J & J Snack Foods

A number of hedge funds have recently made changes to their positions in JJSF. Public Employees Retirement System of Ohio bought a new stake in J & J Snack Foods during the second quarter valued at about $33,000. Meeder Asset Management Inc. bought a new position in J & J Snack Foods in the second quarter worth about $39,000. Allworth Financial LP bought a new position in J & J Snack Foods in the second quarter worth about $47,000. Rockefeller Capital Management L.P. raised its holdings in J & J Snack Foods by 562.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 570 shares of the company's stock worth $52,000 after purchasing an additional 484 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of J & J Snack Foods by 52.7% during the first quarter. EverSource Wealth Advisors LLC now owns 661 shares of the company's stock valued at $52,000 after buying an additional 228 shares during the last quarter. 76.04% of the stock is currently owned by hedge funds and other institutional investors.

About J & J Snack Foods

J&J Snack Foods Corp. is a manufacturer and distributor of snack foods and beverages serving the foodservice and retail markets. The company produces soft pretzels, frozen and baked goods, churros, funnel cakes, dough products, frozen novelties, and frozen carbonated and non-carbonated beverages.

Its portfolio includes brands such as SUPERPRETZEL, ICEE, LUIGI’S Italian Ice, Dippin’ Dots, and various churro, pretzel, and concession-oriented product lines. These products are sold through venues including convenience stores, restaurants, schools, entertainment locations, supermarkets, and other institutional and retail channels.

Founded in 1971, J&J Snack Foods is based in Pennsauken, New Jersey.

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