J&J Snack Foods (NASDAQ:JJSF) Shares Gap Up Following Strong Earnings

J&J Snack Foods Corp. (NASDAQ:JJSF)’s share 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.21. The company had revenue of $359.73 million for the quarter, compared to analysts’ expectations of $341.08 million. J&J Snack Foods had a return on equity of 9.98% and a net margin of 5.11%. J&J Snack Foods’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.43 earnings per share.

J&J Snack Foods Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at J&J Snack Foods

In other news, Director Marjorie Shreiber Roshkoff sold 625 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $147.73, for a total value of $92,331.25. Following the completion of the transaction, the director now directly owns 69,459 shares of the company’s stock, valued at approximately $10,261,178.07. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 22.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of JJSF. American Century Companies Inc. boosted its stake in J&J Snack Foods by 12,431.7% in the third quarter. American Century Companies Inc. now owns 204,642 shares of the company’s stock valued at $33,490,000 after acquiring an additional 203,009 shares in the last quarter. Norges Bank acquired a new stake in shares of J&J Snack Foods in the 4th quarter worth $27,404,000. Allspring Global Investments Holdings LLC grew its stake in J&J Snack Foods by 6.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,473,331 shares of the company’s stock worth $212,985,000 after buying an additional 95,684 shares during the last quarter. Confluence Investment Management LLC acquired a new position in J&J Snack Foods during the 1st quarter valued at about $8,909,000. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its stake in J&J Snack Foods by 102.1% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 91,619 shares of the company’s stock valued at $14,993,000 after buying an additional 46,294 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 firm has a market cap of $3.18 billion, a price-to-earnings ratio of 39.97 and a beta of 0.54. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.36. The firm has a fifty day simple moving average of $140.95 and a two-hundred day simple moving average of $153.58.

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.