J&J Snack Foods (NASDAQ:JJSF) Shares Gap Down on Disappointing Earnings

J&J Snack Foods Corp. (NASDAQ:JJSF)’s share price gapped down prior to trading on Tuesday following a weaker than expected 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 trading hands.

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

J&J Snack Foods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were given a dividend of $0.78 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.62%. J&J Snack Foods’s dividend payout ratio is 70.11%.

Analysts Set New Price Targets

Separately, Benchmark reissued a “buy” rating and set a $200.00 price target on shares of J&J Snack Foods in a research report on Friday, November 15th.

Institutional Investors Weigh In On J&J Snack Foods

Several institutional investors have recently added to or reduced their stakes in JJSF. Blue Trust Inc. lifted its position in J&J Snack Foods by 39,000.0% in the 3rd quarter. Blue Trust Inc. now owns 391 shares of the company’s stock valued at $63,000 after acquiring an additional 390 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in J&J Snack Foods in the 4th quarter valued at $74,000. Northwestern Mutual Wealth Management Co. acquired a new stake in J&J Snack Foods in the 2nd quarter valued at $76,000. GAMMA Investing LLC increased its stake in J&J Snack Foods by 24.0% in the 3rd quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $78,000 after buying an additional 88 shares during the last quarter. Finally, KBC Group NV increased its stake in J&J Snack Foods by 48.2% in the 4th quarter. KBC Group NV now owns 627 shares of the company’s stock valued at $97,000 after buying an additional 204 shares during the last quarter. 76.04% of the stock is owned by institutional investors.

J&J Snack Foods Trading Down 10.3 %

The firm’s 50 day simple moving average is $154.79 and its 200-day simple moving average is $163.68. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 27.05 and a beta of 0.64.

About J&J Snack Foods

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.