J&J Snack Foods Corp. (NASDAQ:JJSF) to Issue Quarterly Dividend of $0.78

J&J Snack Foods Corp. (NASDAQ:JJSF) announced a quarterly dividend on Thursday, May 15th, RTT News reports. Investors of record on Tuesday, June 17th will be paid a dividend of 0.78 per share on Tuesday, July 8th. This represents a $3.12 annualized dividend and a yield of 2.69%.

J&J Snack Foods has increased its dividend payment by an average of 7.0% annually over the last three years and has increased its dividend annually for the last 20 consecutive years. J&J Snack Foods has a payout ratio of 62.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect J&J Snack Foods to earn $5.77 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 54.1%.

J&J Snack Foods Stock Up 1.4%

JJSF stock opened at $116.14 on Friday. J&J Snack Foods has a 52 week low of $112.40 and a 52 week high of $180.80. The firm has a market capitalization of $2.26 billion, a P/E ratio of 26.76 and a beta of 0.49. The company has a fifty day simple moving average of $129.29 and a two-hundred day simple moving average of $143.79.

J&J Snack Foods (NASDAQ:JJSF) last announced its earnings results on Tuesday, May 6th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.34). The business had revenue of $356.10 million for the quarter, compared to analysts’ expectations of $369.01 million. J&J Snack Foods had a net margin of 5.31% and a return on equity of 9.84%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 earnings per share. As a group, analysts anticipate that J&J Snack Foods will post 4.75 EPS for the current year.

Institutional Investors Weigh In On J&J Snack Foods

A hedge fund recently bought a new stake in J&J Snack Foods stock. AQR Capital Management LLC bought a new position in shares of J&J Snack Foods Corp. (NASDAQ:JJSF) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 1,734 shares of the company’s stock, valued at approximately $228,000. 76.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on JJSF. Benchmark lowered their price objective on 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. Jefferies Financial Group lowered their price target on J&J Snack Foods from $175.00 to $135.00 and set a “hold” rating for the company in a research report on Tuesday, February 18th.

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.