J&J Snack Foods (NASDAQ:JJSF) Earns Buy Rating from Benchmark

Benchmark reiterated their buy rating on shares of J&J Snack Foods (NASDAQ:JJSF) in a research note issued to investors on Friday,Benzinga reports. Benchmark currently has a $200.00 target price on the stock.

J&J Snack Foods Price Performance

JJSF stock opened at $165.38 on Friday. The company’s 50 day simple moving average is $168.41 and its 200-day simple moving average is $166.50. J&J Snack Foods has a 12 month low of $133.23 and a 12 month high of $180.80. The firm has a market capitalization of $3.21 billion, a PE ratio of 37.16 and a beta of 0.63.

J&J Snack Foods (NASDAQ:JJSF) last posted its earnings results on Wednesday, November 13th. The company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.25). The company had revenue of $426.76 million during the quarter, compared to analysts’ expectations of $428.33 million. J&J Snack Foods had a net margin of 5.50% and a return on equity of 10.32%. J&J Snack Foods’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.73 EPS. As a group, sell-side analysts anticipate that J&J Snack Foods will post 6.05 earnings per share for the current year.

Insider Buying and Selling

In other J&J Snack Foods news, Director Gerald B. Shreiber sold 20,000 shares of the firm’s stock in a transaction dated Saturday, August 31st. The shares were sold at an average price of $167.95, for a total transaction of $3,359,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On J&J Snack Foods

Institutional investors and hedge funds have recently modified their holdings of the company. Arizona State Retirement System raised its holdings in J&J Snack Foods by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 4,341 shares of the company’s stock valued at $705,000 after acquiring an additional 83 shares during the last quarter. Creative Planning increased its stake in J&J Snack Foods by 1.9% in the third quarter. Creative Planning now owns 4,683 shares of the company’s stock valued at $806,000 after purchasing an additional 86 shares during the last quarter. GAMMA Investing LLC lifted its position in J&J Snack Foods by 24.0% during the third quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $78,000 after buying an additional 88 shares during the period. Louisiana State Employees Retirement System boosted its stake in J&J Snack Foods by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the company’s stock worth $1,266,000 after buying an additional 100 shares during the last quarter. Finally, Martingale Asset Management L P grew its holdings in J&J Snack Foods by 0.7% in the 3rd quarter. Martingale Asset Management L P now owns 14,109 shares of the company’s stock valued at $2,428,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 76.04% of the company’s stock.

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.