J & J Snack Foods (NASDAQ:JJSF) Reaches New 1-Year Low – Here’s Why

J & J Snack Foods Corp. (NASDAQ:JJSF) shares reached a new 52-week low during trading on Friday . The company traded as low as $82.19 and last traded at $81.9850, with a volume of 66164 shares changing hands. The stock had previously closed at $83.67.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on JJSF. Zacks Research raised J & J Snack Foods from a “strong sell” rating to a “hold” rating in a research report on Friday, October 24th. Weiss Ratings lowered shares of J & J Snack Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Finally, Wall Street Zen upgraded shares of J & J Snack Foods from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, J & J Snack Foods has an average rating of “Hold” and an average target price of $142.50.

J & J Snack Foods Stock Down 2.0%

The firm has a market capitalization of $1.60 billion, a PE ratio of 19.12 and a beta of 0.39. The business’s fifty day moving average price is $97.09 and its 200 day moving average price is $109.90.

J & J Snack Foods (NASDAQ:JJSF) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.26. J & J Snack Foods had a return on equity of 8.79% and a net margin of 5.24%.The firm had revenue of $454.30 million for the quarter, compared to analysts’ expectations of $445.98 million. During the same quarter in the previous year, the firm posted $1.98 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts anticipate that J & J Snack Foods Corp. will post 4.75 earnings per share for the current year.

J & J Snack Foods Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 16th were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This is an increase from J & J Snack Foods’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.9%. J & J Snack Foods’s dividend payout ratio is presently 74.59%.

Hedge Funds Weigh In On J & J Snack Foods

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in J & J Snack Foods by 902.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 351 shares of the company’s stock worth $40,000 after buying an additional 316 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in J & J Snack Foods by 243.5% during the second quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the company’s stock worth $48,000 after purchasing an additional 302 shares in the last quarter. AlphaQuest LLC purchased a new position in J & J Snack Foods during the second quarter worth about $59,000. Parallel Advisors LLC lifted its position in J & J Snack Foods by 198.9% in the second quarter. Parallel Advisors LLC now owns 529 shares of the company’s stock valued at $60,000 after purchasing an additional 352 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in J & J Snack Foods by 94.4% in the 2nd quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock valued at $79,000 after purchasing an additional 340 shares in 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. 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.