J&J Snack Foods (NASDAQ:JJSF) Shares Up 2.9% – Here’s Why

J&J Snack Foods Corp. (NASDAQ:JJSF)’s share price shot up 2.9% on Monday . The company traded as high as $132.35 and last traded at $133.94. 19,252 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 98,120 shares. The stock had previously closed at $130.14.

Analysts Set New Price Targets

Several research firms have recently commented on JJSF. Benchmark reissued a “buy” rating and set a $200.00 target price on shares of J&J Snack Foods in a research report on Tuesday, February 4th. Jefferies Financial Group cut 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 note on Tuesday, February 18th.

J&J Snack Foods Trading Up 0.7 %

The business has a 50-day moving average of $131.39 and a 200 day moving average of $152.74. The firm has a market capitalization of $2.58 billion, a PE ratio of 30.55 and a beta of 0.66.

J&J Snack Foods (NASDAQ:JJSF) last released its quarterly earnings results on Monday, February 3rd. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.29). J&J Snack Foods had a return on equity of 9.84% and a net margin of 5.31%. On average, sell-side analysts expect that J&J Snack Foods Corp. will post 4.75 EPS for the current fiscal year.

J&J Snack Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Investors of record on Tuesday, March 18th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Tuesday, March 18th. J&J Snack Foods’s payout ratio is 71.89%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of J&J Snack Foods in the 4th quarter worth about $28,647,000. Susquehanna International Group LLP grew its position in shares of J&J Snack Foods by 45,128.9% during the 4th quarter. Susquehanna International Group LLP now owns 34,222 shares of the company’s stock valued at $5,309,000 after acquiring an additional 34,298 shares during the period. JPMorgan Chase & Co. increased its stake in shares of J&J Snack Foods by 60.6% during the 4th quarter. JPMorgan Chase & Co. now owns 71,571 shares of the company’s stock worth $11,103,000 after purchasing an additional 26,999 shares during the last quarter. Barclays PLC raised its holdings in shares of J&J Snack Foods by 434.0% in the 3rd quarter. Barclays PLC now owns 30,065 shares of the company’s stock worth $5,175,000 after purchasing an additional 24,435 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of J&J Snack Foods by 10.8% in the 4th quarter. Northern Trust Corp now owns 209,898 shares of the company’s stock worth $32,561,000 after purchasing an additional 20,449 shares during the period. Hedge funds and other institutional investors own 76.04% of the company’s stock.

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.