Zacks: J & J Snack Foods Corp (JJSF) Given Consensus Recommendation of “Strong Buy” by Brokerages
Shares of J & J Snack Foods Corp (NASDAQ:JJSF) have received an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation. J & J Snack Foods’ rating score has improved by 50% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a 1-year consensus target price of $130.00 for the company and are expecting that the company will post $0.78 earnings per share for the current quarter, according to Zacks. Zacks has also assigned J & J Snack Foods an industry rank of 111 out of 265 based on the ratings given to related companies.
Several research analysts have recently issued reports on the company. Jefferies Group set a $130.00 target price on J & J Snack Foods and gave the stock a “hold” rating in a research report on Thursday, November 16th. Zacks Investment Research lowered J & J Snack Foods from a “hold” rating to a “sell” rating in a research report on Saturday, November 18th.
J & J Snack Foods (NASDAQ:JJSF) last announced its earnings results on Thursday, November 9th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. J & J Snack Foods had a return on equity of 11.91% and a net margin of 7.30%. The firm had revenue of $316.73 million during the quarter, compared to analyst estimates of $287.91 million. During the same quarter in the prior year, the company earned $1.10 EPS. The business’s revenue was up 20.8% compared to the same quarter last year. research analysts predict that J & J Snack Foods will post 4.45 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Wednesday, December 13th will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $1.80 annualized dividend and a dividend yield of 1.19%. This is a positive change from J & J Snack Foods’s previous quarterly dividend of $0.42. J & J Snack Foods’s dividend payout ratio is currently 42.86%.
Large investors have recently made changes to their positions in the company. Voya Investment Management LLC grew its stake in shares of J & J Snack Foods by 6.7% in the 2nd quarter. Voya Investment Management LLC now owns 7,640 shares of the company’s stock worth $1,009,000 after buying an additional 479 shares during the last quarter. Aberdeen Asset Management PLC UK grew its stake in shares of J & J Snack Foods 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 buying an additional 48,273 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of J & J Snack Foods by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,526,892 shares of the company’s stock worth $201,656,000 after buying an additional 22,527 shares during the last quarter. Legato Capital Management LLC grew its stake in shares of J & J Snack Foods by 73.0% in the 3rd quarter. Legato Capital Management LLC now owns 5,711 shares of the company’s stock worth $750,000 after buying an additional 2,409 shares during the last quarter. Finally, Virginia Retirement Systems ET AL grew its stake in shares of J & J Snack Foods by 59.3% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 12,900 shares of the company’s stock worth $1,704,000 after buying an additional 4,800 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.
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J & J Snack Foods Company Profile
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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