J & J Snack Foods (NASDAQ:JJSF) Rating Lowered to Sell at Zacks Investment Research

J & J Snack Foods (NASDAQ:JJSF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “J&J Snack Foods Corporation is an American manufacturer, marketer, and distributor of branded niche snack foods and frozen beverages for the food service and retail supermarket industries. Manufactured and distributed nationwide, their principal products include SUPERPRETZEL, BAVARIAN BAKERY and other soft pretzels, ICEE and SLUSH PUPPIE frozen beverages, LUIGI’S, MINUTE MAID frozen juice bars and ices, WHOLE FRUIT sorbet and frozen fruit bars, MARY B’S biscuits and dumplings, DADDY RAY’S fig and fruit bars, TIO PEPE’S, CALIFORNIA CHURROS and OREO Churros, PATIO Burritos and other handheld sandwiches, THE FUNNEL CAKE FACTORY funnel cakes, and several bakery brands within COUNTRY HOME BAKERS and HILL & VALLEY. “

A number of other equities research analysts have also recently commented on JJSF. ValuEngine cut J & J Snack Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub cut J & J Snack Foods from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 8th. Finally, Consumer Edge cut J & J Snack Foods from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $176.50.

Shares of NASDAQ JJSF traded up $2.08 during mid-day trading on Tuesday, reaching $185.79. 1,289 shares of the company’s stock were exchanged, compared to its average volume of 85,247. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 37.53 and a beta of 0.32. J & J Snack Foods has a 52 week low of $138.40 and a 52 week high of $196.84. The firm has a 50-day moving average price of $185.27 and a two-hundred day moving average price of $184.46.

J & J Snack Foods (NASDAQ:JJSF) last released its earnings results on Thursday, November 7th. The company reported $1.36 EPS for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.09). The business had revenue of $311.87 million for the quarter, compared to the consensus estimate of $309.50 million. J & J Snack Foods had a return on equity of 11.75% and a net margin of 7.99%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.24 earnings per share. On average, analysts expect that J & J Snack Foods will post 5.22 earnings per share for the current fiscal year.

In related news, Director Sidney R. Brown sold 1,400 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $185.90, for a total value of $260,260.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gerald B. Shreiber sold 1,947 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $187.92, for a total value of $365,880.24. The disclosure for this sale can be found here. Insiders own 21.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in JJSF. BlackRock Inc. grew its holdings in J & J Snack Foods by 3.0% during the 2nd quarter. BlackRock Inc. now owns 2,238,141 shares of the company’s stock valued at $360,229,000 after buying an additional 64,779 shares in the last quarter. Vanguard Group Inc. grew its holdings in J & J Snack Foods by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 1,767,892 shares of the company’s stock valued at $284,543,000 after buying an additional 20,498 shares in the last quarter. Macquarie Group Ltd. grew its holdings in J & J Snack Foods by 3.7% during the 2nd quarter. Macquarie Group Ltd. now owns 782,338 shares of the company’s stock valued at $125,918,000 after buying an additional 28,233 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in J & J Snack Foods by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 222,491 shares of the company’s stock valued at $35,809,000 after buying an additional 5,365 shares in the last quarter. Finally, Copeland Capital Management LLC grew its holdings in J & J Snack Foods by 4.5% during the 3rd quarter. Copeland Capital Management LLC now owns 192,920 shares of the company’s stock valued at $37,041,000 after buying an additional 8,389 shares in the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

J & J Snack Foods Company Profile

J & J Snack Foods Corp. manufactures, markets, and distributes nutritional snack foods and beverages in the United States, Mexico, and Canada. It operates in three segments: Food Service, Retail Supermarkets, and Frozen Beverages. The company offers soft pretzels under the SUPERPRETZEL, PRETZEL FILLERS, PRETZELFILS, GOURMET TWISTS, MR.

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