J & J Snack Foods (NASDAQ:JJSF) Reaches New 52-Week Low - Here's What Happened
J & J Snack Foods (NASDAQ:JJSF) reached a new 52-week low of $99.57, with a trading volume of 4,173 shares. The stock has a consensus rating of "Moderate Buy" and an average price target of $142.50. The company reported $2.00 EPS for the last quarter, exceeding estimates, and announced a quarterly dividend increase to $0.80. Institutional investors hold 76.04% of the stock. J & J Snack Foods manufactures nutritional snacks and frozen beverages, operating in food service and retail segments.
J & J Snack Foods Corp. (NASDAQ:JJSF - Get Free Report)'s share price reached a new 52-week low on Monday . The stock traded as low as $99.81 and last traded at $99.57, with a volume of 4173 shares trading hands. The stock had previously closed at $100.00.
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Analyst Upgrades and Downgrades
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Separately, 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 and one has given a Hold rating to the company. According to data from MarketBeat.com, J & J Snack Foods currently has a consensus rating of "Moderate Buy" and an average price target of $142.50.
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J & J Snack Foods Stock Performance
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The stock has a fifty day moving average price of $111.73 and a 200-day moving average price of $119.19. The firm has a market capitalization of $1.93 billion, a PE ratio of 23.10 and a beta of 0.42.
J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $454.30 million during the quarter, compared to analysts' expectations of $445.98 million. J & J Snack Foods had a return on equity of 8.79% and a net margin of 5.24%.The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.98 EPS. Research analysts expect that J & J Snack Foods Corp. will post 4.75 earnings per share for the current fiscal year.
J & J Snack Foods Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 16th will be issued a $0.80 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from J & J Snack Foods's previous quarterly dividend of $0.78. J & J Snack Foods's payout ratio is currently 74.59%.
Hedge Funds Weigh In On J & J Snack Foods
Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in shares of J & J Snack Foods by 902.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 351 shares of the company's stock valued at $40,000 after acquiring an additional 316 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in J & J Snack Foods by 243.5% in the second quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the company's stock valued at $48,000 after buying an additional 302 shares during the period. AlphaQuest LLC acquired a new stake in J & J Snack Foods in the second quarter worth $59,000. Parallel Advisors LLC lifted its stake 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 acquiring an additional 352 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of J & J Snack Foods by 94.4% during the 2nd quarter. GAMMA Investing LLC now owns 700 shares of the company's stock worth $79,000 after buying an additional 340 shares during the last quarter. 76.04% of the stock is currently owned by institutional investors and hedge funds.
About J & J Snack Foods
(Get Free Report)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.
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