BidaskClub Downgrades J & J Snack Foods (JJSF) to Hold

J & J Snack Foods (NASDAQ:JJSF) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a report released on Wednesday.

Other equities analysts have also issued reports about the stock. CL King initiated coverage on shares of J & J Snack Foods in a report on Tuesday, December 19th. They issued a “buy” rating on the stock. Jefferies Group set a $130.00 price target on shares of J & J Snack Foods and gave the stock a “hold” rating in a report on Thursday, November 16th. Finally, Zacks Investment Research raised shares of J & J Snack Foods from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th.

J & J Snack Foods (NASDAQ:JJSF) opened at $147.34 on Wednesday. J & J Snack Foods has a 1-year low of $121.20 and a 1-year high of $157.33. The stock has a market cap of $2,768.35, a price-to-earnings ratio of 35.08 and a beta of 0.81.

J & J Snack Foods (NASDAQ:JJSF) last released its quarterly earnings results on Thursday, November 9th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.04. J & J Snack Foods had a net margin of 7.30% and a return on equity of 11.91%. The business had revenue of $316.73 million for the quarter, compared to analyst estimates of $287.91 million. During the same period in the previous year, the company earned $1.10 earnings per share. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. analysts predict that J & J Snack Foods will post 4.45 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its holdings in shares of J & J Snack Foods by 6.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 88,644 shares of the company’s stock valued at $11,708,000 after buying an additional 5,433 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of J & J Snack Foods by 9.4% during the second quarter. Legal & General Group Plc now owns 28,892 shares of the company’s stock valued at $3,818,000 after buying an additional 2,474 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of J & J Snack Foods by 17.6% during the second quarter. Victory Capital Management Inc. now owns 1,928 shares of the company’s stock valued at $255,000 after buying an additional 289 shares during the last quarter. Swiss National Bank grew its holdings in shares of J & J Snack Foods by 2.4% during the second quarter. Swiss National Bank now owns 25,100 shares of the company’s stock valued at $3,315,000 after buying an additional 600 shares during the last quarter. Finally, Martingale Asset Management L P grew its holdings in shares of J & J Snack Foods by 0.5% during the second quarter. Martingale Asset Management L P now owns 42,103 shares of the company’s stock valued at $5,561,000 after buying an additional 200 shares during the last quarter. 68.67% of the stock is currently owned by institutional investors and hedge funds.

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J & J Snack Foods Company Profile

J & J Snack Foods Corp. is a manufacturer, marketer and distributor of a range of snack foods and beverages for the food service and retail supermarket industries. The Company operates in three business segments: Food Service, Retail Supermarkets and Frozen Beverages. Its portfolio of products includes soft pretzels, frozen beverages, frozen juice treats and desserts, stuffed sandwiches, burritos, churros, fruit pies, funnel cakes, cookies and bakery goods, and other snack foods and drinks.

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