J&J Snack Foods (NASDAQ:JJSF) Shares Gap Up Following Better-Than-Expected Earnings

J&J Snack Foods Corp. (NASDAQ:JJSF)’s stock price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $137.90, but opened at $145.00. J&J Snack Foods shares last traded at $154.73, with a volume of 18,966 shares changing hands.

The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.63 by $0.21. The business had revenue of $359.73 million during the quarter, compared to analyst estimates of $341.08 million. J&J Snack Foods had a net margin of 5.11% and a return on equity of 9.98%. J&J Snack Foods’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $0.43 earnings per share.

J&J Snack Foods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Tuesday, March 19th were paid a $0.735 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 1.79%. J&J Snack Foods’s dividend payout ratio is currently 71.53%.

Analyst Upgrades and Downgrades

Separately, Benchmark reiterated a “buy” rating and issued a $195.00 price target on shares of J&J Snack Foods in a research note on Tuesday.

Insider Activity at J&J Snack Foods

In other J&J Snack Foods news, Director Marjorie Shreiber Roshkoff sold 625 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $147.73, for a total transaction of $92,331.25. Following the sale, the director now directly owns 69,459 shares in the company, valued at approximately $10,261,178.07. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 22.20% of the stock is owned by insiders.

Hedge Funds Weigh In On J&J Snack Foods

A number of hedge funds have recently bought and sold shares of JJSF. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of J&J Snack Foods by 17.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,508 shares of the company’s stock valued at $574,000 after purchasing an additional 518 shares during the last quarter. Strs Ohio bought a new position in shares of J&J Snack Foods during the 3rd quarter valued at $981,000. Allspring Global Investments Holdings LLC boosted its stake in shares of J&J Snack Foods by 0.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,389,507 shares of the company’s stock worth $227,393,000 after buying an additional 9,205 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of J&J Snack Foods by 357.2% in the third quarter. Teacher Retirement System of Texas now owns 6,181 shares of the company’s stock worth $1,012,000 after acquiring an additional 4,829 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in J&J Snack Foods by 6.5% during the third quarter. Nisa Investment Advisors LLC now owns 1,638 shares of the company’s stock valued at $268,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 76.04% of the company’s stock.

J&J Snack Foods Stock Performance

The business has a fifty day simple moving average of $140.95 and a two-hundred day simple moving average of $153.58. The company has a market cap of $3.18 billion, a P/E ratio of 39.97 and a beta of 0.54. The company has a quick ratio of 1.36, a current ratio of 2.40 and a debt-to-equity ratio of 0.01.

J&J Snack Foods Company Profile

J&J Snack Foods Corp. manufactures, markets, and distributes nutritional snack foods and beverages to the food service and retail supermarket industries in the United States, Mexico, and Canada. It operates through three segments: Food Service, Retail Supermarkets, and Frozen Beverages. It offers soft pretzels under the SUPERPRETZEL, SUPERPRETZEL BAVARIAN, NEW YORK PRETZEL, BAVARIAN BAKERY, and BRAUHAUS brands, as well as under the private labels; frozen novelty under the DIPPIN'DOTS, LUIGI'S, WHOLE FRUIT, DOGSTERS, PHILLY SWIRL, ICEE, and MINUTE MAID brands; churros under the HOLA! and CALIFORNIA CHURROS brands; and handheld products under the SUPREME STUFFERS and SWEET STUFFERS brands.