J & J Snack Foods Corp. (JJSF) Raised to Hold at Zacks Investment Research
J & J Snack Foods Corp. (NASDAQ:JJSF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “J & J Snack Foods Corp. manufactures nutritional snack foods which it markets nationally to the food service and retail supermarket industries. Its principal snack food products are soft pretzels marketed principally under the brand name SUPERPRETZEL. The Company also markets frozen beverages to the food service industry under the brand names ICEE and ARCTIC BLAST in the United States, Mexico and Canada. Other snack products include Italian ice and frozen juice treats and desserts, churros (a Hispanic pastry), funnel cake, popcorn and bakery products. “
Separately, BidaskClub cut J & J Snack Foods Corp. from a “hold” rating to a “sell” rating in a report on Thursday, June 29th.
J & J Snack Foods Corp. (NASDAQ JJSF) traded up 0.27% during mid-day trading on Wednesday, hitting $133.01. The stock had a trading volume of 37,819 shares. The company’s 50 day moving average is $127.94 and its 200-day moving average is $131.57. The stock has a market capitalization of $2.49 billion, a P/E ratio of 33.17 and a beta of 0.75. J & J Snack Foods Corp. has a 52 week low of $102.81 and a 52 week high of $143.21.
J & J Snack Foods Corp. (NASDAQ:JJSF) last issued its quarterly earnings data on Monday, July 24th. The company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.15). The company had revenue of $295.40 million for the quarter, compared to analysts’ expectations of $297.83 million. J & J Snack Foods Corp. had a return on equity of 11.55% and a net margin of 7.33%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the company posted $1.43 EPS. On average, analysts expect that J & J Snack Foods Corp. will post $4.19 EPS for the current fiscal year.
J & J Snack Foods Corp. declared that its Board of Directors has authorized a share repurchase program on Friday, August 4th that allows the company to repurchase 500,000 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
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A number of hedge funds and other institutional investors have recently made changes to their positions in JJSF. BlackRock Inc. increased its stake in J & J Snack Foods Corp. by 136,379.7% in the 1st quarter. BlackRock Inc. now owns 1,798,803 shares of the company’s stock worth $243,846,000 after acquiring an additional 1,797,485 shares during the last quarter. Janus Henderson Group PLC increased its stake in J & J Snack Foods Corp. by 128.9% in the 2nd quarter. Janus Henderson Group PLC now owns 444,376 shares of the company’s stock worth $58,690,000 after acquiring an additional 250,275 shares during the last quarter. Vanguard Group Inc. increased its stake in J & J Snack Foods Corp. by 6.4% in the 1st quarter. Vanguard Group Inc. now owns 1,504,365 shares of the company’s stock worth $203,931,000 after acquiring an additional 90,593 shares during the last quarter. Macquarie Group Ltd. increased its stake in J & J Snack Foods Corp. by 11.3% in the 2nd quarter. Macquarie Group Ltd. now owns 655,937 shares of the company’s stock worth $86,630,000 after acquiring an additional 66,474 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK increased its stake in J & J Snack Foods Corp. by 21.3% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 274,425 shares of the company’s stock worth $36,244,000 after acquiring an additional 48,273 shares during the last quarter. Institutional investors and hedge funds own 67.52% of the company’s stock.
About J & J Snack Foods Corp.
J & J Snack Foods Corp. is a manufacturer, marketer and distributor of a range of snack foods and beverages for the food service and retail supermarket industries. The Company operates in three business segments: Food Service, Retail Supermarkets and Frozen Beverages. Its portfolio of products includes soft pretzels, frozen beverages, frozen juice treats and desserts, stuffed sandwiches, burritos, churros, fruit pies, funnel cakes, cookies and bakery goods, and other snack foods and drinks.
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