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

Key Points

• J&J Snack Foods shares moved above their 200-day moving average, reaching $82.47 before closing at $80.78, compared with the average of $80.12.
• Analyst sentiment remains mixed: Jefferies upgraded the stock to “buy” with a $101 price target, while Weiss Ratings maintained a “sell” rating. The overall consensus is “Hold,” with a $110.50 target price.
• The company beat quarterly EPS expectations ($1.96 versus $1.70) despite a 6.3% year-over-year revenue decline. It declared a quarterly dividend of $0.80, equal to a 4.0% annualized yield.

J & J Snack Foods Corp. (NASDAQ:JJSF - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $80.12 and traded as high as $82.47. J & J Snack Foods shares last traded at $80.78, with a volume of 159,498 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings restated a "sell (d+)" rating on shares of J & J Snack Foods in a research note on Wednesday, June 24th. Jefferies Financial Group raised shares of J & J Snack Foods from a "hold" rating to a "buy" rating and increased their price objective for the company from $81.00 to $101.00 in a research report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $110.50.

J & J Snack Foods Stock Down 3.1%

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 business's fifty day moving average price is $83.21 and its two-hundred day moving average price is $80.12. The stock has a market capitalization of $1.51 billion, a PE ratio of 31.07 and a beta of 0.40.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.26. J & J Snack Foods had a return on equity of 8.93% and a net margin of 3.23%.The company had revenue of $425.96 million during the quarter, compared to analyst estimates of $427.65 million. During the same quarter last year, the business posted $2.00 EPS. The firm's quarterly revenue was down 6.3% on a year-over-year basis. On average, equities research analysts forecast that J & J Snack Foods Corp. will post 3.98 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, October 6th. Stockholders of record on Tuesday, September 15th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Tuesday, September 15th. J & J Snack Foods's dividend payout ratio (DPR) is presently 123.08%.

Institutional Investors Weigh In On J & J Snack Foods

A number of large investors have recently bought and sold shares of the company. Caxton Associates LLP purchased a new position in J & J Snack Foods during the 1st quarter worth approximately $1,834,000. Principal Financial Group Inc. lifted its stake in J & J Snack Foods by 24.7% during the 1st quarter. Principal Financial Group Inc. now owns 92,900 shares of the company's stock valued at $7,364,000 after acquiring an additional 18,424 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of J & J Snack Foods by 186.7% in the 1st quarter. Quantinno Capital Management LP now owns 42,888 shares of the company's stock valued at $3,400,000 after acquiring an additional 27,930 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of J & J Snack Foods in the 2nd quarter valued at $13,115,000. Finally, Sei Investments Co. increased its stake in shares of J & J Snack Foods by 25.7% in the first quarter. Sei Investments Co. now owns 122,577 shares of the company's stock worth $9,717,000 after acquiring an additional 25,038 shares during the period. Hedge funds and other institutional investors own 76.04% of the company's stock.

J & J Snack Foods Company Profile

J&J Snack Foods Corp. develops, manufactures and distributes snack foods and frozen beverages for foodservice, retail and concession customers. Its product portfolio includes soft pretzels, churros, funnel cakes, cookies, baked goods, frozen novelties, Italian ice and frozen carbonated beverages.

The company markets products under brands including SUPERPRETZEL, ICEE, Luigi's Real Italian Ice, Dippin' Dots and Hola Churros, as well as through customer and private-label offerings. Its products are sold through venues such as restaurants, schools, theaters, stadiums, amusement parks and other entertainment locations, in addition to grocery and convenience channels.

Founded in 1971 by Gerald B.

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