J&J Snack Foods (NASDAQ:JJSF) Shares Gap Down After Earnings Miss

Shares of J&J Snack Foods Corp. (NASDAQ:JJSF) gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $132.70, but opened at $126.64. J&J Snack Foods shares last traded at $120.46, with a volume of 46,098 shares traded.

The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.29). J&J Snack Foods had a net margin of 5.50% and a return on equity of 10.32%.

J&J Snack Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Tuesday, December 17th. J&J Snack Foods’s payout ratio is 70.11%.

Analysts Set New Price Targets

Separately, Benchmark restated a “buy” rating and set a $200.00 target price on shares of J&J Snack Foods in a research report on Tuesday.

Hedge Funds Weigh In On J&J Snack Foods

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its holdings in shares of J&J Snack Foods by 40.1% during the third quarter. Jane Street Group LLC now owns 31,936 shares of the company’s stock worth $5,497,000 after buying an additional 9,134 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in J&J Snack Foods by 3.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,620,378 shares of the company’s stock valued at $278,899,000 after purchasing an additional 57,887 shares in the last quarter. Millennium Management LLC increased its holdings in J&J Snack Foods by 128.7% during the 2nd quarter. Millennium Management LLC now owns 21,678 shares of the company’s stock valued at $3,520,000 after purchasing an additional 12,198 shares in the last quarter. Thrivent Financial for Lutherans raised its position in J&J Snack Foods by 19.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 642,648 shares of the company’s stock valued at $110,612,000 after purchasing an additional 106,817 shares during the last quarter. Finally, State Street Corp boosted its stake in J&J Snack Foods by 2.9% in the third quarter. State Street Corp now owns 602,295 shares of the company’s stock worth $104,140,000 after purchasing an additional 17,062 shares in the last quarter. 76.04% of the stock is owned by institutional investors.

J&J Snack Foods Stock Down 6.5 %

The company has a market cap of $2.42 billion, a P/E ratio of 27.88 and a beta of 0.64. The firm has a fifty day moving average price of $153.82 and a 200 day moving average price of $163.37.

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.